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Hi, I wonder if anyone can help me? I heard (can't remember where) that if you sell a property in Spain you are liable for a tax liability as a non-resident in the region of 19-20% is this correct if you sell up and move back to the UK? or you sell and buy another property in Spain? Many Thanks in advance.
Are you a resident or non resident? They are treated differently.
This help thread will point you in the right direction if you have any questions on capital gains tax.
Posted: Mon Apr 1, 2024 9:38pm
marcliff wrote on Mon Apr 1, 2024 9:33pm:
Are you a resident or non resident? They are treated differently.
This help thread will point you in the right direction if you have any questions on capital gains tax.
Read more...
Hi I am a non-resident.
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Bosscat wrote on Mon Apr 1, 2024 9:38pm:
Hi I am a non-resident.
Then as in the help post I linked you will have 3% retention from your selling price and be liable to 24% CGT on gains as a UK citizen.
Posted: Mon Apr 1, 2024 9:55pm
marcliff wrote on Mon Apr 1, 2024 9:44pm:
Then as in the help post I linked you will have 3% retention from your selling price and be liable to 24% CGT on gains as a UK citizen.
Is that the case if I buy another property in Spain with the proceeds of the sale of my apartment?
Bosscat wrote on Mon Apr 1, 2024 9:55pm:
Is that the case if I buy another property in Spain with the proceeds of the sale of my apartment?
No, not as a non resident. The exemptions are main home exemptions and only apply if it is your main place of residence which you can't claim as a non resident. You will have 3% retained from selling your property and if that exceeds the tax on the gains it will be returned. If your gain exceeds the 3% you will get a further tax bill.
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