# Tax on Premium Bonds



## Hollibobs (Oct 31, 2011)

Hi,

Can anyone tell me how much tax is paid roughly on Premium Bonds in Spain? 

Many thanks


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## xabiaxica (Jun 23, 2009)

Hollibobs said:


> Hi,
> 
> Can anyone tell me how much tax is paid roughly on Premium Bonds in Spain?
> 
> Many thanks


do you mean UK Premium Bonds??


like ERNIE as we used to call it :confused2:


aren't they tax-free?


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## Hollibobs (Oct 31, 2011)

Hi xabiachica,

Thanks for your reply. I know PB's are tax free in the UK but wondered if we move them to Spain if they would be taxed there.


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## rifleman (Jun 24, 2011)

How can you move a premium bond? It is a product sold by the British government which doesn't pay interest but instead gets entered into a prize draw. How can you move that anywhere?


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## gus-lopez (Jan 4, 2010)

The premium bonds wouldn't interest the spanish authorities unless you won. Then you are liable to pay tax of 25% on the winnings. 
The same applies to lotteries. If you happen to be in the UK & do the euromillions & win you are liable to tax in spain of 5% whereas if you did it in spain & won the tax liability is zero.


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