Information wanted about becoming fiscally resident in Tenerife

[Callaoanne]

Has anyone experience of becoming fiscally resident in Tenerife?What are the advantages or disadvantages?How does one go about it?If one lives here permanently I believe the law says you should pay your taxes to Spain not to the UK.I have hadmuch conflicting advice but would welcome suggestionsMuchas Gracias from anyone who has actually DONE it and is it advisable and worth it.All opinions would be useful.Gracias.

[Moderator]

I am FISCALLY resident here because I LIVE HERE i.e. I spend more than 183 days a year here and therefore BY LAW I must be fiscally resident. It is not a question of "is it advisable or worth it". But then, you don't have to listen to me or any other"bloke in the pub", much better if you buy this book "You and the Law in Spain - 2015 edition: The complete and readable guide to Spanish Law for foreigners by David Searl, it's available via Amazon in a print edition or via Kindle. Spain like many other EU countries is after all it can get by way of taxes and , if you are living here illegally,they WILL find you eventually and fines for not paying tax are punitive.

[Mia]

I am FISCALLY resident here because I LIVE HERE i.e. I spend more than 183 days a year here and therefore BY LAW I must be fiscally resident. It is not a question of "is it advisable or worth it". But then, you don't have to listen to me or any other"bloke in the pub", much better if you buy this book "You and the Law in Spain - 2015 edition: The complete and readable guide to Spanish Law for foreigners by David Searl, it's available via Amazon in a print edition or via Kindle. Spain like many other EU countries is after all it can get by way of taxes and , if you are living here illegally,they WILL find you eventually and fines for not paying tax are punitive.

I am fiscally resident here because I live here full time too. I agree with the advice to read the book.

We contacted an accountant "asesoría" who put us into the system and does our tax returns as we could not possibly understand the tax forms with our limited Spanish. We have just completed our fourth fiscal year without any problems.

[Ricman]

Callaoanne sending you PM.

[karen1234]

I am fiscally resident here because I live here full time too. I agree with the advice to read the book.

We contacted an accountant "asesoría" who put us into the system and does our tax returns as we could not possibly understand the tax forms with our limited Spanish. We have just completed our fourth fiscal year without any problems.

I did the same and have had no problem for 20 years. But be aware that you have to declare your worldwide wealth to the Spanish taxman. If you have a house or savings in the UK (other things as well) over 50.000 euros you have to fill out a 720 form to advise the Spanish taxman. Also bear in mind interest from any savings etc and pensions in the UK must be declared on your annual income tax form.

[doreen]

Check out - http://www.diana-mcglone.com - lots of info. and Diana is a qualified assessora.

And as stated above, yes, if you are here full time, get into the system !