Join the San Fulgencio forum
My name's Alex and this is my website all about San Fulgencio in Spain. Register now for free to talk about Taxes in San Fulgencio: Suma, NIE and general tax advice and much more!
We have just sold our uk property to buy a house in Spain. The money is in our Spanish bank waiting for the completion of the new house. Do we pay capital gains on our Uk house to Spain. It’s all very confusing. Thank you. Camilla.
Camilla9 wrote on Fri Jun 17, 2022 8:22am:
We have just sold our uk property to buy a house in Spain. The money is in our Spanish bank waiting for the completion of the new house. Do we pay capital gains on our Uk house to Spain. It’s all very confusing. Thank you. Camilla.
You don't say whether you are already resident or not. If you are, then if you spend 183+ days in Spain this year then you will pay CGT on the UK profit. If you are not resident yet then ensure you don't spend the 183+ days in Spain so you don't become fiscal resident until next year.
Regards
Pauline
Posted: Sat Jun 18, 2022 8:12am
Helpful member
Camilla9 wrote on Fri Jun 17, 2022 8:22am:
We have just sold our uk property to buy a house in Spain. The money is in our Spanish bank waiting for the completion of the new house. Do we pay capital gains on our Uk house to Spain. It’s all very confusing. Thank you. Camilla.
You must pay UK CGT to HMRC within 60 days of the sale. May be zero if it was your main home. If you are tax resident in Spain at the time of the sale you will have to pay CGT under Spanish rules, but you can deduct any CGT paid in the UK.
Posted: Sat Jun 18, 2022 9:41am
GordonH605 wrote on Sat Jun 18, 2022 8:12am:
You must pay UK CGT to HMRC within 60 days of the sale. May be zero if it was your main home. If you are tax resident in Spain at the time of the sale you will have to pay CGT under Spanish rules, but you can deduct any CGT paid in the UK.
Thank you. Oops!
