Capital gains tax and local tax return

Luckjockey wrote:Hi. As with many of you on here, I am expected to submit a tax return in Spain every year. At the moment I have a private pension which is exempt from taxation in Spain as the tax is paid in the UK. However, has anyone experienced how the interest made on savings in the UK is potentially affected when submitting a Spanish tax return? Obviously capital gains tax is expected to be paid on any interest made on UK investments in the UK. But is it exempt in Spain once the tax has been deducted in Britain?

marcliff wrote:

Angela17 wrote:Really interesting thread. Can I just ask a related question please? We have premium bonds, is there an amount of winnings that you need to declare anything over ie even if we win £25?

Tax on winnings in Spain is 20% but only applies on winnings of over 40,000 euro. I think your 25 quid is safe.

marcliff wrote:

Mart 63 wrote:

I'm a Spanish tax resident. If you pay tax in Spain you don't get interest on your UK savings.

marcliff wrote:[quote="Mart