Paying Tax from Property Rental
Hello
Seeking advice about paying Tax from property rental. Does anyone have any experience with this?
TIA
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.