Hi everybody, quite new to trading 212. I will be investing long term on a monthly basis into various stocks mainly Vanguard S&P VUAG as here in Spain not many options available. As I cant invest directly with Vanguard from Spain, is T212 a safe bet to deposit a significant amount monthly for next 20/25 years?
Few questions, I dont plan on making withdrawals for many years. Do I need to inform Agencia Tributaria of my monthly deposits in my Declaracion de la Renta or is it only when I withdraw that I need to let them know and pay some wonderful tax on Capital gains?
With us in Spain not having a tax free ISA/Roth IRA to max out each year. Does anybody know of anything similar in Spain?
Apologies if the questions seems obvious, I am just unsure where I stand especially with the tax man!
Welcome to the community. First of all I am not an expert and I am only reporting my experience.
I can say how it is in Italy, then you have to check the rules in your country.
In mine, as long as you invest in accumulating ETFs, you only pay tax at the end, when you cash them in. So if you hold them for years, you only pay tax on the last year. If you sell the accumulating ETFs, you have to pay tax that same year (26%), even if you immediately buy more accumulating ETFs.
Furthermore, you have to declare that you own a portfolio even if you do not trade. Finally, you have to declare your financial situation every year and can declare any losses within four years.
Again, check the rules applicable to your country, preferably with your tax advisor.