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Expat Financial Planning
Spain is home to one of Europe's largest British expat communities - but post-Brexit residency changes, the Beckham Law, and Spain's wealth and overseas asset reporting rules mean your finances need specialist attention.
Why it matters
Spain operates one of the most complex personal tax environments in Europe for foreign nationals. The Beckham Law (officially known as the Special Tax Regime for Inbound Workers) allows qualifying new arrivals to be taxed on Spanish-sourced income only - at a flat 24% rate - for up to six years. Eligibility is contingent on not having been a Spanish tax resident in the previous five years and moving to Spain for employment or business reasons, but understanding whether you qualify and how to apply in time is critical.
Post-Brexit, British nationals no longer benefit from EU freedom of movement and must obtain residency under Spanish immigration rules. The UK-Spain double tax treaty continues to operate but its provisions on pension income, rental income, and capital gains require active management.
Spain imposes a modelo 720 reporting obligation on tax residents who hold overseas assets above certain thresholds - failure to comply has historically carried severe penalties. The impuesto sobre el patrimonio (wealth tax) applies in many regions to worldwide assets above specific thresholds, though regional exemptions vary significantly.
For those purchasing property, understanding mortgage availability for non-residents and the conveyancing process as a foreign national all affect your overall financial position.
Getting specialist guidance from day one can help you avoid costly mistakes.
The process
Spain's Beckham Law eligibility window, the modelo 720 deadline, and wealth tax regional variations all have time-sensitive implications. We introduce you to specialists who work regularly with British expats navigating the Spanish tax system.
We match you with the right specialist
Every submission is reviewed by a human. We identify a specialist with the right expertise for your specific country and circumstances.
Your introduction, your timeline
You are connected directly. No auto-forwarding, no pressure, and no obligation. The specialist conversation happens on your terms.
“I moved to Barcelona for work and had no idea about the Beckham Law until two months after arriving. Fortunately I was still within the application window. The specialist knew exactly what to do and the process was much simpler than I expected.”
Questions
Common Questions About Financial Planning in Spain
What is the Beckham Law and do I qualify?
The Beckham Law (Special Tax Regime for Inbound Workers) allows qualifying individuals who become Spanish tax residents for employment or business reasons to pay Spanish tax at a flat 24% rate on Spanish-sourced income for up to six years, rather than being taxed on worldwide income at progressive rates. Eligibility requires that you have not been a Spanish tax resident in the previous five years and that you move to Spain for qualifying work or business activity. Applications must be made within six months of registering with Spanish social security.
Do I need to declare overseas assets in Spain?
Spanish tax residents are required to file a modelo 720 declaration if the total value of their overseas assets - bank accounts, securities, real estate - exceeds €50,000 in any category. The declaration must be filed in the first quarter of the year following acquisition or significant value change. Non-compliance has historically attracted significant penalties, though the penalty regime has been modified following EU legal challenges. A specialist can help you understand your specific obligations.
How is UK pension income taxed in Spain?
The treatment of UK pension income in Spain depends on the type of pension. Government service pensions (including some teachers' and NHS pensions) are generally only taxable in the UK under the UK-Spain double tax treaty. Private pensions are typically taxable in Spain as the country of residence, with credit for any UK tax withheld. State Pension income is also generally taxable in the country of residence. A specialist can review your specific pension arrangements and their treaty treatment.
This page is for general informational purposes only and does not constitute financial, tax, or legal advice. Tax laws and regulations change frequently. Always seek advice from a qualified specialist who understands your personal circumstances.
From Beckham Law applications to ongoing tax compliance, we can introduce you to a specialist who understands what British expats in Spain actually need.