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Hi all. We are looking to move to Spain on a non lucrative visa. We already have a property in Spain. We will be renting out our home in the UK. We understand that this will be taxed from Spanish government, however we still have a mortgage on our property in the UK. Does this get taken into account? Any help or links would be greatly appreciated. Many thanks
The property is in UK so you have to declare the income from it in UK. You will be taxed and given all allowances in UK. As you will be resident in Spain, you must also declare the income in Spain but, due to the dual tax agreement, the tax you pay in UK will be taken into account.
You can claim relief on the mortgage interest payments but I don't know if that would be acceptable if you've already claimed it against tax in UK as that would be claiming twice.
