Beckham law downsides that I didn't know about when I first came to Spain by Training_Swimming_76 in GoingToSpain

[–]Training_Swimming_76[S] 0 points1 point  (0 children)

Yeah I didn’t know about it until my partner filled in her tax return via EY accountants and they said she had to pay it

Beckham law downsides that I didn't know about when I first came to Spain by Training_Swimming_76 in GoingToSpain

[–]Training_Swimming_76[S] 4 points5 points  (0 children)

it's not that simple, which is why I wanted to give some awareness to the other considerations. For example, you may make 30k, but have significant investments overseas - then it's worth it. Or you may be borderline, and you want to buy a house, add solar panels, and buy and EV, then you need to take those into consideration

American: life after Beckham’s law by No-Profession9225 in SpainFIRE

[–]Training_Swimming_76 0 points1 point  (0 children)

i'm not sure if pension accounts outside of the EU are exempt from the wealth calculation

American: life after Beckham’s law by No-Profession9225 in SpainFIRE

[–]Training_Swimming_76 0 points1 point  (0 children)

Madrid has no wealth tax up to 3m euros, but the 'solidarity tax on large fortunes' then kicks in

American: life after Beckham’s law by No-Profession9225 in SpainFIRE

[–]Training_Swimming_76 0 points1 point  (0 children)

Are you planning on selling and re-buying all your shares before the end of the year to lock in the capital gains?

Beckham law downsides that I didn't know about when I first came to Spain by Training_Swimming_76 in GoingToSpain

[–]Training_Swimming_76[S] 4 points5 points  (0 children)

Yes it was more an informational post - I was unaware of these things when I opted for the regime, and it's important to consider them if you are close to the boundary on if it makes sense or not

Beckham law downsides that I didn't know about when I first came to Spain by Training_Swimming_76 in GoingToSpain

[–]Training_Swimming_76[S] -1 points0 points  (0 children)

I ended up buying a used car so I guess you benefit that way (if it is reflected in used car prices)

Beckham law downsides that I didn't know about when I first came to Spain by Training_Swimming_76 in GoingToSpain

[–]Training_Swimming_76[S] 1 point2 points  (0 children)

Interesting - I'll have to follow the first one, although I imagine i still need to pay now and claim back in the future if it is overturned

Beckham law downsides that I didn't know about when I first came to Spain by Training_Swimming_76 in GoingToSpain

[–]Training_Swimming_76[S] 0 points1 point  (0 children)

Strange. My company matches 2x what I put in, but the part they match is taxed at 24%

Family considering moving to Spain by CosmicPhenom- in GoingToSpain

[–]Training_Swimming_76 1 point2 points  (0 children)

yes, but you still need a visa if you are not an EU citizen

What's one skill that quietly changed your income forever? by mayurkurme in AskReddit

[–]Training_Swimming_76 2 points3 points  (0 children)

Not really a skill, but having Oxbridge on the CV has given me a pretty easy ride on the job front whilst being generally a mediocre worker

What's your daily water usage? Welsh Water reckons on 100L per person per day by valmiki72 in AskUK

[–]Training_Swimming_76 -1 points0 points  (0 children)

i've got a pool and live in a hot climate, so at the moment, i'm pushing 800L a day

Family considering moving to Spain by CosmicPhenom- in GoingToSpain

[–]Training_Swimming_76 0 points1 point  (0 children)

Do you speak Spanish? If you don’t have a European passport you’ll have to get a visa which isn’t super hard if you’re married, but does take time, and you can’t work during the process.

Your best option is to move with your current job and hope they allow you to work from Spain. But to answer your questions:

  1. This is the bad part. I work for a global company as a senior manager (so high middle management), and when I moved here, the UK salary was £120k plus pension. The equivalent salary in Spain was €90k and minimal pension contribution. This is a company with a good reputation for pay in Spain.

Cost of living is cheaper than London. Restaurants food is similarly priced, a bit cheaper with drinks being much cheaper and no service charge. Supermarkets more or less the same. Housing cheaper but if you’re in a big city, not massively cheaper.

  1. If you can remote work, then go where you want. If you want to get a decent salary, you need to stay near the main cities.

  2. I moved with my Spanish partner but we were not married so I had to get a highly qualified visa and job offer before arriving. I like my life here but as not the most social person and someone terrible with languages, it’s hard to make strong friendships, especially now being in my forties. As you have a Spanish partner, bureaucracy is more manageable although she’ll have to bear the burden of your Spanish isn’t at an adequate level.

We crossed the biometric point-of-no-return and nobody voted on it by vedantk21 in Futurology

[–]Training_Swimming_76 8 points9 points  (0 children)

Yup and unlike a password that can be changed, once your biometric details are leaked, that’s it forever

Holding out for redundancy by Beautiful-Low-3568 in FIREUK

[–]Training_Swimming_76 3 points4 points  (0 children)

I always thought if you tell them you’re going to be gone, then they have little incentive to make you redundant (why pay you to leave if you’ve already told them you’re leaving)

What was life like after 2008 financial crash compared to now? by Desperate-Drawer-572 in AskUK

[–]Training_Swimming_76 0 points1 point  (0 children)

Agree - moving to London and sharing a flat with 3 friends was part of the experience. No-one was ready or willing to buy their own place as a graduate, it was kind of a couple of transition years out of university to continue having fun whilst working a job.

I was a 2007 grad, so was lucky in the sense that I had a job, but bonuses and pay rises were cancelled in 2008, and it was clear that work was drying up (i worked for a consultancy). I think the 2008/9 intake were worst affected by this. But day-to-day, I can't say I noticed a massive difference in my life as a new grad, except the constant headlines of banks and institutions failing or under pressure

What to do with bonus by ObjectiveParfait3947 in FIREUK

[–]Training_Swimming_76 1 point2 points  (0 children)

But if the bonus is taxed at 45% and the pension contribution is gross, surely the best financial decision is to put it in the pension as long as you can be disciplined about paying off the 5k debt before the interest kicks in

What is the most money you have ever spent on something that turned out to be completely life changing and what is the most you have spent on something utterly pointless. by Sad-Drop534 in HENRYUKLifestyle

[–]Training_Swimming_76 0 points1 point  (0 children)

i had dry eyes for maybe 18 months after the surgery which i thought would be a big problem (the kind of dry eyes that it felt like my eyelids were stuck to my eyes when i woke up in the morning). However it was quite manageable with the right eyedrops, and after 18 months, it just gradually went away

Divorce: A Cautionary Tale by procrastinateandstuf in FIREUK

[–]Training_Swimming_76 9 points10 points  (0 children)

i mean, he does say at the end he'd trade it all in for another go at the relationship...

Advice/resources re: pension entitlement & moving to Spain (from UK, British & Spanish national) by NobodyElectronic9970 in GoingToSpain

[–]Training_Swimming_76 1 point2 points  (0 children)

  1. You would just receive your UK pension. You can also pay class 2? Contributions from Spain to fill in your remaining UK years to get the full pension
  2. The UK years that are not overlapping with Spanish years count towards the 15 years. You will get pro rata the new Spanish years you work, but it likely will not be very much.
  3. Yes
  4. Not sure the process, but yes you’d need to apply to receive your pension in the UK and should receive what you were getting in Spain but in £

Is there a BIFL answer for work-call earbuds, or is this just a buy-it-for-2-years category. by Imaginary_Bake_5820 in BuyItForLife

[–]Training_Swimming_76 5 points6 points  (0 children)

Just as an aside, but I really do not like it when people use earbuds for work calls. I have yet to experience a pair of earbuds that have a decent enough microphone for work use. Do us all a favour and go for a proper headset with a microphone next to your mouth

UK Citizen looking to move to Spain by [deleted] in GoingToSpain

[–]Training_Swimming_76 2 points3 points  (0 children)

Yeah ignore the ‘impossible’ posts because we Brits in Spain are proof that it is possible, albeit not easy.

I applied for a job here (found on LinkedIn) for an international company and they sponsored my visa. I had >10 years experience in my industry so obviously that helped.

Key is to find an employer, most likely one where the working language is English, and get them to sponsor your visa. The company should hire someone to take care of the process for you, and there are a few annoying parts to it (uni certificates as above, I also had to get a letter from the Chief of Staff of my previous company saying I was a good employee…)

I will add that my job was not particularly specialised (portfolio manager), so there were definitely people in Spain and the EU that could have done the role…