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Where Taxpayers and Advisers Meet

Tax residency

Joined:Thu May 16, 2024 4:18 pm
Tax residency

Postby MarkBarber » Thu May 16, 2024 4:36 pm

I currently live, work and pay taxes in Switzerland. My plan is to retire later this year and return to the UK for a short period of time before permanently relocating to Spain, where I have property & hold a residency permit.

The UK has a favourable tax situation when it comes to pension lump sums transferred from Switzerland, compared to if I just directly moved from Switzerland to Spain and transferred the lump sum there.

My questions are:

1. Is it right that during the period I will be tax resident in the UK, any funds transferred during this time to Spain will be classified as wealth and therefore not subject to Spanish tax?
2. How long would I need to be resident in the UK before I transfer the pension lump sum to Spain (where I will eventually become tax resident)?
3. During this time of residency in the UK, I would like to visit Spain for short periods of time, but in order to avoid potential misunderstandings about where I am tax resident, are there restrictions in terms of the number of trips and days I could spend there?

Thanks, Mark

Joined:Fri May 16, 2014 3:47 pm

Re: Tax residency

Postby AGoodman » Mon May 20, 2024 10:45 am

They're all Spanish tax questions - and possibly ones requiring detailed answers as well. I don't think you will get an answer here (albeit i could be wrong)

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