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Brits living in Spain go up by 9.5% in 2 years, but should you become tax resident in Spain?

Brits living in Spain go up by 9.5% in 2 years. In 2021, British nationals opting for Spanish residency increased by 4.4%, bringing the total number to less than 1% shy of its record in 2013. Despite the challenges of Brexit, the number of British becoming residents in Spain has increased by 9.5% since 2019. You may well be thinking of joining them or if you’re among them, interested in the implications of being tax resident in Spain or responding to an inquiry from the Spanish tax authorities, which seems to be on the rise.

“Deciding whether to become tax resident in Spain depends on your circumstances, your own and those of your family,” explains León Fernando del Canto, Head of Chambers at Del Canto Chambers. “You also need to bear in mind your financial situation and the type of residence permit or tax rule applying to you in Spain.”

He underlines that, as with all tax matters, fiscal residency is a complex matter and you should consult the professionals regarding your particular situation. However, when considering the pros and cons of Spanish tax residency, Del Canto answers the following questions: 

Brits living in Spain go up by 9.5% in 2 years…,

Read the full article, written by León Fernando del Canto and originally published in Spanish Property Insight, by clicking here

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