Parents thinking of moving back from Spain 23 November 2013 at 11:29PM in Over 50s MoneySaving 18 replies 3.5K views

Alibuster01

My dad is 86, my mum a little younger. They have lived away since they retired almost 30 years ago. They are thinking of selling up in Spain to move back to be near me (or we both sell up and buy a place together). Currently their apartment isn't worth as much as he had hoped.
What things do they need to bear in mind, money-wise. My dad thinks the taxes over here will be prohibitive. I think he gets around 2k a month pension plus state pension. I think my mum gets the state pension, but she doesn't have an occupational pension.

dzug1

Not sure what he means by prohibitive?

He will pay 20% tax on his income (total both pensions) over the personal allowance. What's he been paying in Spain? Looks to be higher than here on a quick look

If your Mum's only income is the state pension then there's unlikely to be any tax.

monkeyspanner

You might find more information on this forum.
http://britishexpats.com/forum/forumdisplay.php?f=61

greyteam1959

Are they sure they can actually sell their place in Spain ???
It might be worth a hell of a lot less than they think !!
And that is if they can sell it.

chesky

I don't think there will be any unusual problems about money. They won't be eligible for any benefits as your father's income would be too high and the flat in Spain would be counted as an asset. But I don't think they would be expecting to claim any by the sound of it anyway.

The tax thing is probaby be not too different from Spain - it will be the day to day cost of living which might be a shock.

zygurat789

chesky wrote: »

I don't think there will be any unusual problems about money. They won't be eligible for any benefits as your father's income would be too high and the flat in Spain would be counted as an asset. But I don't think they would be expecting to claim any by the sound of it anyway.

The tax thing is probaby be not too different from Spain - it will be the day to day cost of living which might be a shock.

Or even the heating bills

zaax

There is of course the stress of moving itself. I'd stay in spain where they should have got used to things by now.

As job are scarce over there why don’t they hire a maid to help out with things.

zygurat789

zaax wrote: »

There is of course the stress of moving itself. I'd stay in spain where they should have got used to things by now.

As job are scarce over there why don’t they hire a maid to help out with things.

Nothing beats the British NHS. In Spain the relatives are expected to do all the non-medical care of patients.

teajug

I bet to differ GP's are paid bonus to put people on LPW

Also there are numerous thread about how older people are neglected in hospitals in UK

http://www.dailymail.co.uk/news/article-2468112/Revealed-How-GPs-paid-50-bonus-elderly-death-lists.html

zygurat789

teajug wrote: »

I bet to differ GP's are paid bonus to put people on LPW

Also there are numerous thread about how older people are neglected in hospitals in UK

http://www.dailymail.co.uk/news/article-2468112/Revealed-How-GPs-paid-50-bonus-elderly-death-lists.html

I think the website you have linked to says it all.

McKneff

Dad will pay tax the same as the rest of us. No more, no less.


I wonder how many pensioners who live here would be quite happy paying tax if they were getting over 3K a month between them.


Probably all of them....