Spanish tax

Cheryl wrote on Sun Mar 6, 2022 4:14pm:

https://www.facebook.com/AngarTaxationService/ 

This company get a lot of recommendations on here and it will be well worth speaking to an expert before you finalise anything.

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My understanding is that it depends when you become a tax resident in Spain. The Spanish tax year runs from 1st Jan to 31st Dec and you are tax resident if you spend more than 183 days here in the tax year. Again, only from my understanding, if you get your TIE in the second half of the year then you will remain a UK taxpayer until 1st January the following year, therefore not liable to Spanish CGT. I may well be wrong though so check it out with the experts.

Cheryl wrote on Sun Mar 6, 2022 4:14pm:

https://www.facebook.com/AngarTaxationService/ 

This company get a lot of recommendations on here and it will be well worth speaking to an expert before you finalise anything.

Read more...

My understanding is that it depends when you become a tax resident in Spain. The Spanish tax year runs from 1st Jan to 31st Dec and you are tax resident if you spend more than 183 days here in the tax year. Again, only from my understanding, if you get your TIE in the second half of the year then you will remain a UK taxpayer until 1st January the following year, therefore not liable to Spanish CGT. I may well be wrong though so check it out with the experts.

Mags03169 wrote on Sun Mar 6, 2022 3:38pm:

We are doing our taxes & Modelo 720 with Jose at Expat Services La Zenia , very helpful with lots of experience of working in the UK as well as Spain .

Paulsayer wrote on Sun Mar 6, 2022 5:00pm:

Thanks very much Cheryl,I hope your right,because that would be good for us,but I will contact them and see what i can find out.

Paulsayer wrote on Sun Mar 6, 2022 5:00pm:

Thanks very much Cheryl,I hope your right,because that would be good for us,but I will contact them and see what i can find out.

paulsav wrote on Mon Mar 7, 2022 11:06am:

Hi Paul

Cheryl is correct in her info, timing is crucial in this situation to avoid CGT. If you obtain residency in first half off year( you mention going over in April) you will be deemed a tax resident from Jan 1st 2022 and whether you leave money in Uk or send over to Spain is immaterial you will pay ...

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...CGT because you will have stayed in Spain over 183 days in this year. If you can avoid completing your NLV until June then not enter Spain until after July to apply for your residency you will avoid tax because your residency would start after 183 days and not a fiscal resident until following year. 

BTW Angar only do non resident taxes, I,ve already checked this, they don't do resident based tax processes. You will need a gestor who does but not until next year, also this year you will have to pay non resident tax for last year (if you had your Spanish property then) and next year too but only for first part of year before residency. Before Brexit it was easier to get timings right with selling UK property and then becoming resident even if it meant staying with relatives or renting short term before going to Spain, now with NLV process starting in Uk and only having 3mnth window to obtain residency it's a little more difficult but not impossible. If you do not obtain residency before July onwards you will be safe and avoid CGT. Pray your Nlv takes a while to process if you have already applied. Good luck. 

Regards 

Pauline 

Paulsayer wrote on Mon Mar 7, 2022 1:36pm:

Hello Pauline,very good information from you,and I agree,it was a hell of a lot easier before brexit.

Unfortunately we didn’t realise the tax implications before we started the visa process and we received them last week. As you can imagine,we’re really excited when they arrived,but now feel totally deflated and it’s took the whole shine out of it for us.I can’t understand how difficult S...

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...pain is making this process when tourism and expat communities make up a massive part of the Spanish income.

We are awaiting a response from a tax consultant  in Spain,who I really hope comes back with better news for us.

Your help is really appreciated and I will post any info for people on here.

Regards,Paul.