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Help With Mums Money Please.

DAVE1003 · 2007-10-08 09:22:51

Hi, My Mum Has Just Sold Her House In England & Has A Surplus Of £130,000 Of Which She Says She Is Taking £25,000 To Spain Where She Has A House. She Is Renting A Small Cottage Over Here For When She Comes Back & Forth From Spain. Where Would Be The Best Place For Her To Put Her Money (£100,000) Which She Would Like Pay…

Comments

missile Posts: 11,886 Forumite

13 October 2007 at 10:52AM

It's very important to establish the residency for tax purposes for your mother. Many people move to Spain and they 'should' become resident there for tax purposes - but don't.

It is not that simple and not everyone would benefit from changing their tax domicile. There are many who regret adopting spanish residencia, particularly when they want to access UK NHS and this may be a concern for OPs mother?

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