Tourist licence question - tax

Posted: Thu Feb 21, 2019 4:30pm

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Gilli99

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Location: Villamartin

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Another question to help me decide about going down the rental route it not.....!

Assuming I get my licence and get some rentals, am I required to submit a tax return even if I don’t rent out in a three month tax period? I don’t like the idea of paying for a tax return if I haven’t rented the property - my idea at present is to have it available for say, April - October and keep it to ourselves for the remainder.

Right now, I’m going off the idea of the whole thing, just seems to be an awful lot of hassle! Any positive stories out there to keep me motivated?!

Thanks

Gill

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Posted: Thu Feb 21, 2019 4:43pm

jimtaylor

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Location: Mudamiento

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Posted: Thu Feb 21, 2019 4:43pm

You only submit a quarterly tax return if the property has been rented out in that quarter.

For the period it's not rented, you pay tax during the following year - at a much lower rate than when it's rented.

Posted: Thu Feb 21, 2019 6:15pm

Gilli99

Original Poster

Posts: 83

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Location: Villamartin

Joined: 24 Sep 2018

Posted: Thu Feb 21, 2019 6:15pm

Thanks Jim!

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Posted: Thu Feb 21, 2019 7:29pm

Davebev1

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Location: Playa Flamenca

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Posted: Thu Feb 21, 2019 7:29pm

If there are no rentals in a tax quarter then no. you don't submit a return. Remember that your non-residents tax is reduced at the end of the year according to how many days the property was actually rented out, so the quarterly tax returns and the non-residents return will need to match up.