Advice needed on paying VAT and paying an accountant

Hi,

we were wondering if anyone else has signed up with Roda rentals to manage their property. They have told us we have to pay quarterly VAT returns on our income via an invoice and that an accountant should submit these returns for us to the VAT office. Which will cost 100 euros a quarter plus a charge for a yearly tax return. Roda deduct tax at source from your income.

Anyone doing this themselves, is it easy and could we avoid using an accountant to do it. Where would you get forms from etc

When is the tax return due and is it straight forward. I understand there is also a deemed rental tax but do we have to pay this as well as the tax on our rental income?

By the time we have paid for all the expenses of this there will be no income left! although I know you can claim this against you uk tax payable.

Advice would be welcome and I do understand that there have been many threads about this.

Sorry Erinjake I know nothing about the VAT situation (which obviously bears no correlation with UK VAT) but just for your information you can only claim the tax back on your UK income if you make a profit on your rentals....if you make a loss you can only claim UK tax relief on the spanish tax paid, as if the tax was a deductible expense.

I am guessing that there are only a few owners out there making profit from their Roda rentals!?

 Sent you a private message

This message was last edited by Mike B on 06/03/2010.