UK and Spain tax treaties and issues
November 30, 2021
British may move or invest in Spain. Spanish may move or invest in the United Kingdom (UK). There are tax treaties between Spain and the UK to prevent double taxation. British and Spanish need to understand how these tax treaties work.
It is possible for both British and Spanish to pay tax in both countries. This means they have overpaid tax. Understanding the tax treaties allows British and Spanish taxpayers to pay the least tax.
Where you live dictates where the majority of tax will be paid, there is a clear distinction between being a resident and tax resident. British and Spanish people moving countries living abroad need to be mindful of this distinction to avoid tax penalties and tax overpayments.
You usually pay tax in the UK and Spain that generates income. A tax credit will be [provided to you to reduce the tax paid in the other country.
Optimize Accountants provides tax support to landlords/property investors to help grow their wealth and minimize tax: income tax, capita; gains tax (CGT), inheritance tax (IHT), corporation tax and Stamp Duty Land Tax (SDLT). Optimize also helps expats understand taxes in the United States, United Kingdom, Spain and Hong Kong
www.optimiseaccountants.co.uk
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