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Hola Forum,
I’ve read a number of threads re CGT but stupidly still can’t get my head around it. If I sold my UK house in July/August, bought my Spanish apartment in October and I’m looking to get my NLV accepted and move across in December, Will I be stung for CGT on the sale of my UK home? Thank you
No, You become a tax paying resident in Spain once you have lived here for more than 6 months in any one calendar year (same as the tax year in Spain which is Jan to Dec). If you sell your property in UK in July or Aug (the second half of the year) 2024 then you will not be a tax resident in that year if you take out residency after July. You will not be a fiscal resident until 2025 and do not have to complete a tax return for 2024. Anything you do in 2024 is disregarded by the tax office.
Your first tax return will be done at the beginning of 2026 and will apply for 2025 only.
Posted: Thu Nov 2, 2023 10:37am
marcliff wrote on Thu Nov 2, 2023 10:30am:
No, You become a tax paying resident in Spain once you have lived here for more than 6 months in any one calendar year (same as the tax year in Spain which is Jan to Dec). If you sell your property in UK in July or Aug (the second half of the year) 2024 then you will not be a tax resident in that...
Read more...
... year if you take out residency after July. You will not be a fiscal resident until 2025 and do not have to complete a tax return for 2024. Anything you do in 2024 is disregarded by the tax office.
Your first tax return will be done at the beginning of 2026 and will apply for 2025 only.
Thank you so much, that’s such a weight of our minds. Really appreciate it 👍
Just remember not to take out residency in the first 6 months of they year that you sell the property.
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Posted: Thu Nov 9, 2023 5:50am
Hello
Advice please...
I need to buy a tv for my house.
Do I just plug in it or do I need Internet?
Also, where's a good place to purchase one?
Patricia 🤗
Casa Patricia wrote on Thu Nov 9, 2023 5:50am:
Hello
Advice please...
Read more...
I need to buy a tv for my house.
Do I just plug in it or do I need Internet?
Also, where's a good place to purchase one?
Patricia 🤗
Bit of an odd question on the capital gains tax thread. Maybe go to a more appropriate one if you want answers.
Posted: Thu Nov 9, 2023 9:11am
Casa Patricia wrote on Thu Nov 9, 2023 5:50am:
Hello
Advice please...
Read more...
I need to buy a tv for my house.
Do I just plug in it or do I need Internet?
Also, where's a good place to purchase one?
Patricia 🤗
Ooops!...... sorry
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