model 720 what paperwork is required?.
Posted: Sat Oct 16, 2021 4:12pm
Dear sirs,I am going to complete model 720,what relevant paperwork and documents do I need?many thanks.
Posted: Sat Oct 16, 2021 5:48pm
Super helpful member
Are you sure you mean Modelo 720, i.e. declaration of assets held outside Spain on Dec. 31st of any year?
This return can only be done online via the Tax Authority website, and has to be submitted between Jan. 1st and March 31st of the year after the year in question. So either you are very late for 2020, or preparing very early for 2021.
To answer your specific question, all you need is an electronic certificate to identify yourself online to the tax authorities. And of course, you will need to declare what amount of overseas assets you hold (converted into euros) on 31st December of the year in question, in each of the three classes of asset declarable. They are bank accounts and similar, shares and similar investments, and property. You do not have to declare assets in any class where the total is less than 50,000 euros.
Posted: Sun Oct 17, 2021 10:41am
Super helpful member
Hi
Just to add to what Herefordjack says, you simply need to declare your assets - you will not be asked for evidence.
Cheers
Steve
Stevec2x wrote on Sun Oct 17, 2021 10:41am:
Hi
Just to add to what Herefordjack says, you simply need to declare your assets - you will not be asked for evidence.
Read more...
Cheers
Steve
Yes declare your assets but you also have to supply start/entry/ plan dates and reference numbers all of which could be checked and cross referenced with known information.
Steve
Posted: Sun Oct 17, 2021 9:36pm
Super helpful member
Once you have submitted a Modelo 720, you will need to resubmit is anything significant changes .... e.g. selling a UK property (which will be subject to Capital Gains Tax in Spain).
So evidence of purchase/sale prices needs to be available.
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