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Paying Tax from Property Rental
Posted: Tue Jan 8, 2019 9:42am
Hello
Seeking advice about paying Tax from property rental. Does anyone have any experience with this?
TIA
Posted: Tue Jan 8, 2019 4:43pm
Legendary helpful member
If you're resident, you include it in your annual tax return.
If you're non-resident, you declare it using form Modelo 210, within twenty days of the end of any quarter in which you've received rental income.
Posted: Wed Jan 9, 2019 10:20am
Helpful member
If you speak to Isobel and Sylvia in FAB in MASA Square they will be able to assist you if you need.
Posted: Wed Jan 9, 2019 7:39pm
Legendary helpful member
As Jim says, if non-resident then you must declare it at the end of every quarter, within the first 20 days, and the tax is payable immediately. So Oct-Dec is 2018 must be declared now. There are a few deductions allowed for EU residents against the income and the tax rate is 19% of the net income. If you are a UK resident then after Brexit, when the UK becomes a third country, then there will be no allowable deductions and the rate goes up to 24% of the gross income. The number of days the property is let out reduces your non-resident's tax accordingly.
Spanish residents declare their rental incomes on their annual return with everything else.
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