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Hi all we have just put a deposit on a villa on C1, so excited and can’t wait to get our selves out there hopefully in the very near future, we should have been over in April but flights got cancelled We have sold our house and are looking now for a not sure!! would it be an accountant or tax person regarding finances. I have searched the internet looking for some advice but all I keep reading is it’s a minefield get an expert. I will speak to the solicitor on Monday but was just curious if anyone has any advise please for me to read upon over the weekend. Thanks in advance
Look at Jim's Guides on this forum.
Jim's guides - your complete guide to Spain
All you need to know ( well most of it ) is there.
Roland wrote on Sat May 23, 2020 9:24am:
Look at Jim's Guides on this forum.
Jim's guides - your complete guide to Spain
Read more...
All you need to know ( well most of it ) is there.
Thank you
Hi
We bought a place on C2 two years ago and have not regretted it. We became Fiscal Residents in Spain shortly after moving here.
Engaging a local accountant is a good idea. Borneo Sur in Puerto De Mazarron handle our Spanish tax. They speak English and they do the job.
Depending on your personal circumstances, you may need to seek advice on your UK tax obligations too.
Tony1948 wrote on Sat May 23, 2020 1:47pm:
Hi
We bought a place on C2 two years ago and have not regretted it. We became Fiscal Residents in Spain shortly after moving here.
Read more...
Engaging a local accountant is a good idea. Borneo Sur in Puerto De Mazarron handle our Spanish tax. They speak English and they do the job.
Depending on your personal circumstances, you may need to seek advice on your UK tax obligations too.
Thank you
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Posted: Sun May 24, 2020 9:52am
Helpful member
BevT wrote on Sat May 23, 2020 7:42am:
Hi all we have just put a deposit on a villa on C1, so excited and can’t wait to get our selves out there hopefully in the very near future, we should have been over in April but flights got cancelled We have sold our house and are looking now for a not sure!! would it be an accountant or...
Read more...
... tax person regarding finances. I have searched the internet looking for some advice but all I keep reading is it’s a minefield get an expert. I will speak to the solicitor on Monday but was just curious if anyone has any advise please for me to read upon over the weekend. Thanks in advance
Yes budget on 12% and you may get a little change!
We are in the market to upgrade at this moment and we are finding massive price reductions being offered. Another tip, sellers are advertising to sell privately, thus avoiding agents fees (up to 10%, but most about 6%). One property we are interested in is with an agent for 265k€ and the seller is advertising privately for 200k€ !!. Be patient, there are oodles of properties for sale on Camposol, many for over a year and the opportunity for bargains this summer will be great!
Posted: Sun May 24, 2020 4:38pm
Helpful member
Hi, - you will definitely need a tax accountant if you want to be fiscally resident here in Spain.Even if you do not have sufficient income to pay tax you need to make a declaration to Hacienda 6 pages long, all in Spanish. If you are a taxpayer in UK, try to exit the tax system before you come, or end up paying in both countries with no refunds afterwards. You will pay more tax percentagewise here, but could be worth it for the tax/property/inheritance scenario later on.
Christine 75 wrote on Sun May 24, 2020 4:38pm:
Hi, - you will definitely need a tax accountant if you want to be fiscally resident here in Spain.Even if you do not have sufficient income to pay tax you need to make a declaration to Hacienda 6 pages long, all in Spanish. If you are a taxpayer in UK, try to exit the tax system before you ...
Read more...
...come, or end up paying in both countries with no refunds afterwards. You will pay more tax percentagewise here, but could be worth it for the tax/property/inheritance scenario later on.
I was paying dual tax for a while.
I challenged HMRC & got a healthy refund 2 months ago.
You just have to be persistent & don't let them give the runaround. The Dual Taxation Agreement has been law for some time now.
As you have sold in uk ,beware of cgt .
Ideally your best arriving after july 4th
Then apply for residency . You may get hit with cgt on your uk home if you arrive before that.
You have to spend less than 183 days in spain in your 1st year . To avoid taxes
Any pension tax free lump sums maybe subject to tax in spain . So take them asap
Reduce assets to under 50k so you dont have to declare it ,split anything over this between partner
See jims guides .he.ll keep you right on this .
Bill17520 wrote on Sun May 24, 2020 9:52am:
Yes budget on 12% and you may get a little change!
We are in the market to upgrade at this moment and we are finding massive price reductions being offered. Another tip, sellers are advertising to sell privately, thus avoiding agents fees (up to 10%, but most about 6%). One property we are interested in is with an agent for 265k€ and the seller...
Read more...
... is advertising privately for 200k€ !!. Be patient, there are oodles of properties for sale on Camposol, many for over a year and the opportunity for bargains this summer will be great!
10% agent fee..!!! thats a 1st ..usually 3%
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