If you lived in the UK in the 80’s and 90’s the Hacienda night club may have brought some happiness and bright lights to the cold dark nights.
Now, pension holders in Spain may be able to rave the night away again and enjoy Happy Mondays. There is a New Order in Spain that relates to the Ministerio de Hacienda…
The article below has been provided by *UHY Fay & Co. They specialise in international tax advice and have produced this document which outlines how new laws in Spain that commenced on 30th June 2022 will affect pensions and holders of pensions in Spain.
For all British Expats living in Spain, it is very important that you seek financial advice on your existing pensions. We are here to help and can assist with:
- Assessing the suitability of your current pensions
- Reviewing how they are affected by the change in Spanish Law
- Identifying the most tax efficient pension planning for your circumstances
- Help manage your retirement wealth and allow you to take advantage of the new Spanish tax laws
If you can reduce the tax on your pensions the benefits include:
- Potentially higher levels of income to enjoy retirement
- Possibility of retirement funds not ‘running out’ in your lifetime
- The ability to pass on your wealth to beneficiaries in a tax efficient way
*UHY Fay & Co is a leading professional firm based in Spain offering multidisciplinary and comprehensive professional services of the highest quality tailored to the needs of our clients. UHY Fay & Co is the only member in Spain of UHY International. Established in 1986 and based in London, UK, UHY International is a network of independent consulting firms with offices in over 300 major business centers in over 100 countries. Its services and teams are tailored to suit the culture of each client including HNWI, large and medium-sized companies and privately owned businesses. We are specialized in providing domestic and international tax advice to Spanish residents and nonresidents. Our international network and multidisciplinary range of services enable us to provide advise globally. For more information visit our website https://www.uhy-fay.com/en/.