Home | Contact | Lanzarote Forum | Lanzarote Events Guide | Photo Gallery | Advertise your Business
It is currently Thu Feb 22, 2018 2:54 am

All times are UTC


Post new topic Reply to topic  [ 4 posts ] 
Author Message
 Post subject: my husband and I are planning to move to Lanzarote this year
PostPosted: Mon Jan 19, 2015 3:19 pm 
Offline

Joined: Mon Jan 19, 2015 2:34 pm
Posts: 3
We hope to start the process in March on our hols. Can you advise on the rate of tax in Lanzarote on 2 small state pensions. In U.K. we do not pay any tax, as the "ALLOWANCES" before tax cover our pensions. Are there similar allowances before tax there, and if not, would we be paying on the full amount, and at what percentage?.


Top
 Profile  
Reply with quote  
 Post subject: Re: my husband and I are planning to move to Lanzarote this
PostPosted: Mon Jan 19, 2015 6:28 pm 
Offline

Joined: Thu Jan 12, 2012 6:40 pm
Posts: 477
From a quick Google search, I unearthed the following personal allowances for 2015

Under 65 years old 5,550 Euros
65+ 6,700 Euros
75+ 8,100 Euros

The Spanish income tax rate is 20% this year. Bear in mind that residents must have their UK state pensions taxed in Spain, not UK, but any other government pension such as armed forces or teacher must be taxed in UK. If you have both, then you are entitled to the personal allowance in both countries.


Top
 Profile  
Reply with quote  
 Post subject: Re: my husband and I are planning to move to Lanzarote this
PostPosted: Mon Jan 19, 2015 7:03 pm 
Offline

Joined: Mon Jan 19, 2015 2:34 pm
Posts: 3
Thank-you so much John b, very helpful


Top
 Profile  
Reply with quote  
 Post subject: Re: my husband and I are planning to move to Lanzarote this
PostPosted: Fri Feb 20, 2015 12:59 pm 
Offline

Joined: Mon Mar 31, 2008 2:10 pm
Posts: 1024
Am assuming your pension is paid in £?

Have you worked out how you will live if the £ takes a turn for the worse?

Remember when the £ got you 1.6 or more euros in the early 2000s? Many expats on fixed £ income have had to give up the life in the sun as the euro has strengthened against the £ and return to the UK

You should have a look at various scenarios of how you will survive if the £ drops to 1.10 and even parity. It was at 1.05 only 4 or 5 years ago and the last 4 years has wavered around the 1.15-1.20 mark.
Being over 1.30 is very novel at the moment.


Top
 Profile  
Reply with quote  
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 4 posts ] 

All times are UTC


Who is online

Users browsing this forum: No registered users and 0 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
Powered by phpBB