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capital gains tax on sale of u.k property when moving to Spain

Posted: Sun Aug 12, 2018 12:29pm
4 replies159 views5 members subscribed
caroline60

Posts: 15

3 helpful points

Location: La Marina

Joined: 25 Feb 2018

  1. Hello, does any one know, if I sell my house in UK before end of  2018 and move to Spain in 2019 and become resident, will I pay Capital Gains Tax in Spain.

     I believe if I sell in the same tax year in Spain for example 2019 and become resident in 2019 I would need to pay it.

Thanks.

jimtaylor

Posted: Sun Aug 12, 2018 3:37pm

jimtaylor

Legendary helpful member

Posts: 5612

8738 helpful points

Location: Mudamiento

Joined: 2 Feb 2017

Posted: Sun Aug 12, 2018 3:37pm

It shouldn't matter what you do. The Dual Taxation Treaty effectively states that any capital gain on immovable property is taxed in the country in which the property is situated.

caroline60

Posted: Sun Aug 12, 2018 3:43pm

caroline60

Original Poster

Posts: 15

3 helpful points

Location: La Marina

Joined: 25 Feb 2018

Posted: Sun Aug 12, 2018 3:43pm

Thank you. That's good to know.

UKHandyMan4Hire

Posted: Wed Aug 15, 2018 9:01am

UKHandyMan4Hire

Very helpful member

Posts: 800

916 helpful points

Location: Aspe

Joined: 22 May 2018

Posted: Wed Aug 15, 2018 9:01am

My understanding is that you do not pay capital gains tax on the sale of your main residence in the UK (I do not know if the same applies in Spain, Jim is better placed for advice on that matter I would suggest)

So, if you are selling your UK home, NOT a second house, it doesnt matter about the timing etc, plus Jim has also stated about the dual taxation treaty. The bottom line is you should also NOT be paying Capital Gains Tax in the UK either.

Hope that helps

caroline60

Posted: Wed Aug 15, 2018 6:11pm

caroline60

Original Poster

Posts: 15

3 helpful points

Location: La Marina

Joined: 25 Feb 2018

Posted: Wed Aug 15, 2018 6:11pm

Thank you for your reply. I would definately be exempt from CGT in UK but it was Spain I was worried about. I have just come across a document on the  Citizens Advice Bureau Spain, dated August 5th 2018,  titled

" Selling Property before moving to Spain - things to consider" its  under their section on taxation. New to posting on this forum and Im not computer savy enough to add the link to the right page sorry.I need to read it thoroughly as there is alot of information there too.


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