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Rental property

Posted: Mon Jan 23, 2023 11:21am
4 replies115 views4 members subscribed
Macey21

Posts: 22

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I am resident here in Spain do my Spanish tax return every year, at present have a flat i rent out in England am thinking of stopping the rental on it so I can use it to go back to when I want. What would be the implications. 

tebo53

Posted: Mon Jan 23, 2023 11:27am

tebo53

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Posted: Mon Jan 23, 2023 11:27am

Macey21 wrote on Mon Jan 23, 2023 11:21am:

I am resident here in Spain do my Spanish tax return every year, at present have a flat i rent out in England am thinking of stopping the rental on it so I can use it to go back to when I want. What would be the implications. 

You will probably still have to pay tax on "assumed" income from your property in the UK. I understand that the Spanish tax man will assume that you will be getting an income from your UK property even if you are not.

Steve 

Kimmy11

Posted: Tue Jan 24, 2023 12:39pm

Kimmy11

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Posted: Tue Jan 24, 2023 12:39pm

Hi Macey21,

Your tax advisor in Spain should be able to answer this question for you.  I also have a property in the UK that I rent out - I'll ask my tax advisers, Abaco, and see what they say.

Kind regards, 

Kim

Macey21

Posted: Tue Jan 24, 2023 12:51pm

Macey21

Original Poster

Posts: 22

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Location: Benijofar

Joined: 1 Apr 2018

Posted: Tue Jan 24, 2023 12:51pm

Kimmy11 wrote on Tue Jan 24, 2023 12:39pm:

Hi Macey21,

Your tax advisor in Spain should be able to answer this question for you.  I also have a property in the UK that I rent out - I'll ask my tax advisers, Abaco, and see what they say.

Kind regards, 

Kim

Thanks Kim 

John123456

Posted: Tue Jan 24, 2023 4:50pm

John123456

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Posted: Tue Jan 24, 2023 4:50pm

Macey21 wrote on Tue Jan 24, 2023 12:51pm:

Thanks Kim 

if you are a tax resident in Spain with a UK property, and you do not rent it out, you still have to pay tax on the imputed rent. The contents of the following link will provide an explanation:

https://spectrum-ifa.com/spanish-tax-on-uk-property/

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