Taxes
Posted: Mon Feb 22, 2021 9:14pm
Hi, I am now a resident. I have a property in the UK. if I were to sell it where would I stand with taxes in Spain?
If at the time of selling your UK property you are also tax resident in Spain it is possible the funds you raise will be subject to capital gains tax in Spain but my understanding is that it would depend on how much profit you have made. The difference between your original purchase price and the selling price.
My suggestion would be to seek a view from a tax advisor in Spain competent in this area of taxation.
Posted: Tue Feb 23, 2021 9:08am
Super helpful member
My wife and I gained Spanish Residency in 2018.
We sold a UK property in September 2020.
We paid CGT in the UK. As an overseas Resident, you have to declare and pay in the UK within 30 days, to avoid a (small) fine.
We notified the Spanish tax authorities of this.