How much

[@irenethemarine]

Hello, I plan on moving to Spain on a NLV. I collect VA disability at 100% and will be receiving this for the rest of my life. I am also in the middle of applying for SSDI. My questions are: 1. Is VA disability considered private pension? 2. Do I file taxes on the VA disability even though it’s not taxed in the US 3. Will I have to file taxes on SSDI? That is taxed in the US so I’m thinking I know the answer, I’m just trying to make sure. Thank you kindly ❤

[@youtoospain]

Contact Lucia for the full answer to those questions [e-mail]

[@-jez888-]

Great video, as ever! Thanks 👍

[@youtoospain]

You’re welcome

[@AandKfr]

Ta mucho 4 last answer enjoy Lara birthday...as cilla wud say to her happy birthday & lara lara luck xx

[@youtoospain]

Yes indeed.

[@toddl.3454]

I crunched the #s and based on the income and wealth tax, I would have to pay 60 percent of my income in taxes if I lived in spain. I pay 28 percent in the US. Not worth moving there!

[@youtoospain]

I didn’t know there was a 60% tax rate in Spain.

[@toddl.3454]

@@youtoospain if you include the wealth tax, which is a tax on assests, that's what it comes out for my situation.

[@youtoospain]

@@toddl.3454 ah i see. I bet there’s a way of using that wealth to invest in something and make you more to offset the tax. Also, you can’t take it with you when you die, so why not spend it in lovely Spain and relax?

[@toddl.3454]

I'd like to spend it, not give it away to the Spanish government 😅

[@youtoospain]

@@toddl.3454 you could always buy some expensive properties and let them out to rich tourists. There would still be tax but at least there would be more income.

[@robjurgens1973]

hi, was interesting but i need information over tax paying abouth crypto and gians in crypto, do you know a specialist? i live in Murcia. great

[@youtoospain]

Sorry mate but I have no interest in crypto and don’t know any specialists who would touch it.

[@johnmaraz9768]

Hi there, I’m enjoying all your videos and will join live next time. We have Hungarian EU passports. We are all Australian and now living in Spain for less than six months. My 15 yr old daughter is going to an international school. Do we need to register as residents. We have no assets here, just our savings Cheers John

[@youtoospain]

Yes if you're living there you should register as living there. I've made a few videos about the process if you're not familiar with it. Let me know and I'll give you the links in case you can't find them on the channel

[@johnmaraz9768]

It seems such a struggle to go down the resident path and expensive with health cover ect. Maybe a link would be good cheers Juan

[@pilot_paul42]

Do you know when the IPREM figures are released for 2024 ?

[@youtoospain]

It’s usually around now, but we won’t know until it happens I suppose

[@paulabramble5304]

Hi Skatz. Any chance of getting a wills expert on one week?

[@youtoospain]

Good idea. I’m sorting out my will on Monday so it’s good timing. The lawyer is Spanish though and doesn’t speak much English so I’ll have to find someone else for the show.

[@yogiparashara4016]

Good video buddy very informative 😊

[@youtoospain]

Thanks dude

[@ghackland]

I am 65 years old. Does the age exemption apply to property sold in the UK. I will be making £70,000 profit on the sale of my property. Will I be liable to pay CGT in Spain?

[@youtoospain]

The age exemption applies to selling property that’s been your main residence for the past 3 years. So if you’re selling it before you move then yes.

[@ghackland]

Just to be sure, that's yes I'm exempt, not yes I am liable. Sorry, my original question was a bit confusing. Thanks. @@youtoospain

[@stephenccox]

Hi, Can I ask whether capital gains tax applies from the date /year you became a resident or from when you first started the investment (which would have been in another country)?

[@youtoospain]

Not quite sure what you mean. CGT applies on the date you sell a property and the tax is on the amount it’s gained in value from when you bought it to when you sell it. And the country you pay the tax to is the one in which you’re a fiscal resident in the financial year you sold the property.

[@stephenccox]

@@youtoospain I also thought CGT also applied to investments and any profit (CG) made (this is what I have been told). I just wondered whether this would be the profit made since resident or since conception which could make a big difference.

[@youtoospain]

@@stephenccox I’m no expert but as I understand it, CGT only applies if you sell the investment. If you still own it as an asset but make income from it, that’s subject to income tax.

[@MEDITATION990]

any crypto advice? I am coming on the NLV in April and have a few hundred thousand invested in crypto. Are there any crypto friendly banks to "off ramp" crypto profits into? I assume this will be taxed in Spain although I purchased them when resident in the UK.

[@youtoospain]

Not a clue. I’m staying well away from crypto.

[@-jez888-]

Good question, doubtful

[@youtoospain]

I’m not sure what off ramping means, but if you’re talking about converting crypto currency into real money, then putting it into a Spanish bank, then I expect all of them are fine with that.

[@MEDITATION990]

@@youtoospain yes, that is what it means, you convert your crypto to pounds/euros on a crypto exchange then send your money (fiat) to the bank. It would be interesting to know what the accountants/banks think about this as it is a serious problem for the future which everyone is trying to brush under the carpet. In the UK, they don’t want you putting it in the bank however HMRC wants tax paid on the profits. How can you take profits if you can’t bank them first 🤔. I suppose it will all come out in the wash!

[@cryptopod9388]

I would open a Kucin coin account where you can exchange into anything you want. They have a card which supports euro and usdt. Stay away from the Spanish banks they will rinse you.