UK rental income - Taxes in San Pedro del Pinatar: Suma, NIE and general tax advice - San Pedro del Pinatar forum - Costa Cálida forum in the Murcia province of Spain
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UK rental income

Posted: Wed Jul 22, 2020 7:19pm
2 replies85 views4 members subscribed
Adam1988

Posts: 10

Joined: 4 Feb 2020

Hi everyone we plan to move to san pedro area in the next few weeks and proceed getting all are paperwork in order so we have all requirements met by the 31 December. I am going to rent out my UK property while out in Spain. I'm getting confused with all the taxes in Spain. 

So as an example say.... 

£7200 rental UK income a year starting August 2020. When do I declare the money earned upto end if tax year and which country do I declare it in 1st, secondly is it the model0 720 form for the other declaration of overseas assets in wealth tax or will I get taxed another way

Thanks Adam 

KateCB

Posted: Mon Aug 3, 2020 8:53am

Posts: 94

35 helpful points

Joined: 26 Nov 2017

Posted: Mon Aug 3, 2020 8:53am

You need your accountants advice. The  person who is going to be doing your TIE application and future wealth taxes here in Spain is really the only person qualified to answer your tax questions. What is true for one may not be the case for you. Talk to your lawyer/gastoria for advice that wont get you into trouble.

crissywissy

Posted: Mon Aug 3, 2020 9:34am

crissywissy

Super helpful member

Posts: 2442

1615 helpful points

Location: Mar Menor

Joined: 26 Sep 2015

Posted: Mon Aug 3, 2020 9:34am

worldwide assets declared on Mod 720 if over 50k but your rental income on UK property is taxed in UK.....you declare the year after you become fiscal resident...get a good tax advisor to do it for you at least for the first year.

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