Thinking about moving to Spain - impact on SIPP

Johnnyboy11

Have you considered Portugal, as there appears to be excellent tax breaks for expats under the non-habitual resident scheme?
https://www.blevinsfranks.com/news/article/non-habitual-resident-regime-NHR-Portugal-tax-advantages

pip895

Johnnyboy11 wrote: »

Have you considered Portugal, as there appears to be excellent tax breaks for expats under the non-habitual resident scheme?
https://www.blevinsfranks.com/news/article/non-habitual-resident-regime-NHR-Portugal-tax-advantages

Was thinking just that - no tax for 10 years I was told - climate is great too.

Johnnyboy11

pip895 wrote: »

Was thinking just that - no tax for 10 years I was told - climate is great too.

Someone else on this forum also suggested Cyprus, which apparently has low tax across the board.

Sunnylifeover50plan

pip895 wrote: »

Was thinking just that - no tax for 10 years I was told - climate is great too.

Property can be quite expensive, compared to other EU countries, in Portugal - probably due to their tax policy which encourages money into the country.

[Deleted User]

Johnnyboy11 wrote: »

Someone else on this forum also suggested Cyprus, which apparently has low tax across the board.

Probably me at some point..
Spain - high Tax, very low property in places (inland Almeria etc), lots of English help for settling in (which I can't seem to find at this level for all of these below)
Portugal - zero tax for 10 years on Pensions then medium tax, medium property
Cyprus - ability to do 5% tax on Pensions, medium property
France - @nigelbb can comment

and a new one
Croatia - zero tax on Pensions indefinitely, low to medium property

And on the edges being investigated
Greece - bureaucratic nightmare which I can't quite get my head around at the moment
Italy - see above

nigelbb

Deleted_User wrote: »

Probably me at some point..
Spain - high Tax, very low property in places (inland Almeria etc), lots of English help for settling in (which I can't seem to find at this level for all of these below)
Portugal - zero tax for 10 years on Pensions then medium tax, medium property
Cyprus - ability to do 5% tax on Pensions, medium property
France - @nigelbb can comment

and a new one
Croatia - zero tax on Pensions indefinitely, low to medium property

And on the edges being investigated
Greece - bureaucratic nightmare which I can't quite get my head around at the moment
Italy - see above

Can you quantify low/medium/high tax & low/medium/high property?

France has a misplaced reputation for high tax but compared to the UK couples in particular get a much better deal as they are taxed as a unit & thus income is divided over two personal allowances. Couples where one member has a much larger income than the other will particularly benefit with the income spread over two personal allowances. Pensioners get 10% higher personal allowances. Most couples on modest incomes will be much better off while even those on not so modest incomes will still benefit.

House prices everywhere in France are in general a lot cheaper than the UK & can be incredibly cheap in rural areas. You can find tired old properties for renovation but habitable from €20K upwards. We have just bought a fully renovated 2-bed cottage in a small village in central Brittany for under €50K. Nice 3 bedroom houses on the coast with sea views &/or walking distance to the beach start from about €200K. For the same house without the sea views & a short drive from the coast prices start at €100-150K.

[Deleted User]

nigelbb wrote: »

Can you quantify low/medium/high tax & low/medium/high property?

France has a misplaced reputation for high tax but compared to the UK couples in particular get a much better deal as they are taxed as a unit & thus income is divided over two personal allowances. Couples where one member has a much larger income than the other will particularly benefit with the income spread over two personal allowances. Pensioners get 10% higher personal allowances. Most couples on modest incomes will be much better off while even those on not so modest incomes will still benefit.

House prices everywhere in France are in general a lot cheaper than the UK & can be incredibly cheap in rural areas. You can find tired old properties for renovation but habitable from €20K upwards. We have just bought a fully renovated 2-bed cottage in a small village in central Brittany for under €50K. Nice 3 bedroom houses on the coast with sea views &/or walking distance to the beach start from about €200K. For the same house without the sea views & a short drive from the coast prices start at €100-150K.

Yes a very relative term, unfortunately I was referring to the bands where I currently live
Medium, approx 200-250k for a small villa and pool
France also has a reputation for high council tax, ie 1-1 with the U.K., Spain tends to be much cheaper.
Again on that villa/house example , per year UK.. £1,400.. Spain EUR 200-350

[Deleted User]

nigelbb wrote: »

Can you quantify low/medium/high tax & low/medium/high property?

France has a misplaced reputation for high tax but compared to the UK couples in particular get a much better deal as they are taxed as a unit & thus income is divided over two personal allowances. Couples where one member has a much larger income than the other will particularly benefit with the income spread over two personal allowances. Pensioners get 10% higher personal allowances. Most couples on modest incomes will be much better off while even those on not so modest incomes will still benefit.

House prices everywhere in France are in general a lot cheaper than the UK & can be incredibly cheap in rural areas. You can find tired old properties for renovation but habitable from €20K upwards. We have just bought a fully renovated 2-bed cottage in a small village in central Brittany for under €50K. Nice 3 bedroom houses on the coast with sea views &/or walking distance to the beach start from about €200K. For the same house without the sea views & a short drive from the coast prices start at €100-150K.

Low, high tax
Well low would be 0-5%
Spain tax is 19% and rising quickly through the income bands, the main allowance which is very low is also only calculated on the lower tax band.. ie they don’t move you down the bands like we do, it’s calculated at say 19% and then reduces the tax bill

Sunnylifeover50plan

Deleted_User wrote: »

Yes a very relative term, unfortunately I was referring to the bands where I currently live
Medium, approx 200-250k for a small villa and pool
France also has a reputation for high council tax, ie 1-1 with the U.K., Spain tends to be much cheaper.
Again on that villa/house example , per year UK.. £1,400.. Spain EUR 200-350

It's also true that the cost of food/ drink is cheaper in Spain generally - when we were in Normandy last year looking at houses we saw a cauliflower on the market for EUR 4!! I also bought some dental floss in a pharmacy for EUR 7. You can get a cracking deal on French rural property but for some the relative isolation isn't something they crave.

The Spanish "costa" package of lowish housing costs/ highish tax/ lowish cost of living/ diverse population/ blue flag med beaches/ affordable healthcare - keeps it in contention for us.

Just need a better exchange rate which is looking decidedly flaky at this time, lol.