Talk Quesada forum

https://drive.google.com/file/d/1JpxaFP ... sp=sharing

Having just completed my Spanish tax return online I thought I would share some of the current tax allowances and tax bands along with a worked example. Spanish taxation is worked out slightly differently than a UK one. For example most of the allowances are worked out at 19%, the lowest tax rate, so that people on larger incomes do not get a greater benefit than those on smaller incomes.

Click on the link and it will take you to a small spreadsheet. Feel free to ask questions.

Hi there Espanabums

Thanks for sharing,

Terry

Thanks for sharing this ,how about putting a one up for UK pensions only receiving the basic pensions please

jpeg wrote:Thanks for sharing this ,how about putting a one up for UK pensions only receiving the basic pensions please

This one is quite easy, let us say the basic pension is 8,000.00€

By applying the 2,000.00€ general allowance this is reduced to 6,000.00€

The calculated tax @19% is 1,140.00€

The single person allowance, for under 65´s, is 5,550.00€ and the earned income allowance is 3,700.00€ making a total of 9,250.00€.

The tax reduction on 9,250.00€ @ 19% is 1,757.50€.

As this reduction is greater than the calculated tax there is no tax to pay.

thanks, very helpful.

I was talking about retired UK pensioners so they would be over 65 thanks

jpeg wrote:I was talking about retired UK pensions so they would be over 65 thanks

OK,

Under 65 personal allowance 5,550.00€ @ 19% 1,054.50€
65 but under 75 personal allowance 6,700.00€ @ 19% 1,273.00€
Over 75 Personal allowance 8,100.00€ @ 19% 1,539.00€

That is even more allowance to offset against the calculated income tax so no tax to pay.