| The Comments |
Well we haven't quite moved yet but hopefully in the next couple of months. We are keeping a house in the Uk as security and for the children to have a base and somewhere they can call home. We will have our Uk tv (for how long who knows!) and we are happy to eat Spanish food and not spend our life in Iceland! We both have minor health issues which will be helped by a definite lack of stress (less than owning and running our business anyway!) and we have lots of friends already and lots planned to do. Apart from that we'll no doubt have continual maintenance on our house and garden but I will miss my children and grandchildren greatly. But it has been our choice to leave them and will help them out with flights if necessary so they can visit and we'll visit the uk to see family too. If I had to return to the uk I would have a house but would look for a job. We have done much research to make sure this works for us but you can never say never......
3
Like
|
Very wise to keep the house in the UK, but remember to declare it on the new assets reporting form, and if you sell it you will have to pay CGT on it in Spain!
0
Like
|
Very wise to keep the house in the UK, but remember to declare it on the new assets reporting form, and if you sell it you will have to pay CGT on it in Spain!
And remember if you live in Spain (tax resident) to declare and pay the second home tax in Spain, on any property you own in any other country, including UK.
0
Like
|
Camposol, its actually going to be in my daughters name with a deed of trust, naturally, preventing any sale without my permission! That irradicates any complications in Spain for the time being anyhow. We'll be trying to do everything as we should once we've made the move as I think the benefits far outway any cons!
johnz see my comment!
This message was last edited by fazeress on 23/11/2013.
2
Like
|
Fazeress:- Its actually going to be in my daughters name
I beleive that if you gift a property (put it in your daugher's name) there is a tax obligation, maybe both in UK and in Spain.
(Info from a Spanish lawyers' advice page:-- Gift tax is levied on the increase of wealth, caused by reason of gift while the transferor is still living)
Just a thought.
0
Like
|
I keep in touch with some who have gone back and not one has had any problem resuming their life in the UK, especially in the most important aspect-health.
Did any of your friends need any kind of the help like the three in the article needed? thats the comparison, and i cannot see why or how these three would have lied about this or made up the storys.
The article does say that the three were basically well down on their luck and needed support, and or help, for a short while until they got going again. As well it's wise to remember the fact these were still our English people and not immigrants to our country.
I also know some who have come back and had the funds to buy a house, had some money in the bank, so any government money help or assistance wasn't needed, they also carried on here with no problems.
I wouldn't think health care would be a question to be honest, not in the UK anyway, as bad as the NHS is i find it hard to believe they would turn anyone away with a complaint.
Believe the Daily Mail or not, but it's worth checking these things out beforehand if your a touch on the borderline and do decide to come back hoping to be where you left of.
1
Like
|
I beleive that if you gift a property (put it in your daugher's name) there is a tax obligation, maybe both in UK and in Spain.
Dont know about Spain, but in the UK you can give your house to your kids no tax if you live for another 7 years.
Best you do what thousands of others do...Dont tell them.
2
Like
|
I'm not gifting it to her so that shouldn't be a problem!
0
Like
|
Sorry Faz, thought that is what you meant when you said, "its actually going to be in my daughters name."
1
Like
|
Woodbug-everyone will have a different view on pros and cons, and on some people's list the UK would win hands down!
Then let them stay in the UK with the crazy tax, high cost of living and property prices - a govenment hell-bent on wrecking the welfare state and opening doors to all gangsters from every nation under the sun. Don't forget the muggings - child offenders - violence towards old people ad the lack of care and respect and help for all those who served the country in the past and in recent years The loss of the british identity and culture ........... I could go on all day but it's boring!
I think most of us who have got some in would prefer the warm and relatively safe environment of Spain.
3
Like
|
No worries johnzx!
0
Like
|
Woodbug-everyone will have a different view on pros and cons, and on some people's list the UK would win hands down!
Then let them stay in the UK with the crazy tax, high cost of living and property prices - a govenment hell-bent on wrecking the welfare state and opening doors to all gangsters from every nation under the sun. Don't forget the muggings - child offenders - violence towards old people ad the lack of care and respect and help for all those who served the country in the past and in recent years The loss of the british identity and culture ........... I could go on all day but it's boring!
I think most of us who have got some in would prefer the warm and relatively safe environment of Spain.
Good for you Woodbug, Thumbs up. I guess thats the right hand side of your list nearly completed then, er maybe another A4 sheet or two will do perhaps.
3
Like
|
fazeress-surely the fact that you have put your house in your daughter's name means you have given it to her? What else can it mean?
Woodbug-as for crazy tax, burglaries, muggings,injustice, cold winters,corruption, high priced utilitie etc-Welcome to Spain! The sunny bit doesn't compensate!
1
Like
|
No camposol it doesn't and we're not! Its maybe a little complicated and I'm not going into it on here as its our affairs. But to put it simply she'll be paying us some money and yes we will be declaring the income!
0
Like
|
Well Faz you have totally confused me too. You seem to be having your cake and eating it, but as you quite rightly say, it's your business, but as you have put at least some of it into the public forum, it's not surprising that you are being asked by some to explain the confusion you seem to have created !
0
Like
|
You seemed to have a very jaundiced view of life in the UK, Woodbug. It gave me a laugh, particularly the bit about gangsters. We choose to live in the UK but usually enjoy our visits to our apartment in Spain. The expats that we meet are often bored (strange as that may seem to some!) and many have returned after a few years, citing their reason as having nothing much to do. Perhaps the ones that stay find a busy and fulfilling life and the others go home...if they can!
2
Like
|
Sounds like the expats who return through boredom are the ones , as seen on property programs ,who choose a property in locations with lots of bars so they can sit all day overlooking the sea or golf course, sipping g & t's. Very boring.
4
Like
|
Surely there is going to be a transition period? Most British expats are retired but they would have had the same transition period in UK as they would in Spain. We've all had the same thought "What will I do when I give up work?". People always ask what do you find to do now you're retired no matter if you are in Spain or UK. I've seen people stagnate and just sit around or go to the pub(if you can find one that's still open) in UK as well as those who seem to make it a lifestyle choice here. We don't go line dancing, play golf, go to the pub for karaoke/bingo or whatever but we do lead a full life. The garden, whilst not a full time job, gets more attention than the one in UK ever did. We go for walks along the beach or the local nature reserve a few times a week (yes, even in winter), have a chat with the neighbours whilst sitting out in the garden (20C here today and the TV says we are having a cold snap). We are lucky in having some marvellous shopping complexes near us. We go up into the mountains a little bit and explore some delightful little villages. Yes, we socialise with friends and eat out a couple of evenings a week but it is not a hard and fast rule. We sometimes ask ourselves what we would be doing in UK. The answer is, generally, probably not a lot. We certainly couldn't do as much due to a combination of the weather, the prices and that, after living in a village (small town, really) for over 25 years, we could count the people we knew by name on one hand. Giving up work is traumatic but I truly believe we are making more of our retirement in Spain than we would have back in UK. And after just spending an enforced 2 months in UK, it was so wonderful to get back home to Spain again. It would be a boring old world if we were all the same.
8
Like
|
|
Had to smile bobaol when you said your sitting outside and it's 20c and it's a cold snap, i have been outside in 5.5c all day here, my TV said it's getting warmer by next week...To 10c.
0
Like
|