Registering a van

Capital gains tax has reduced in spain last week from 35% to 18%.

This will introduce loads of investors to the market who stayed away because of  the high tax. They can now buy off plans , turn a nice sum in a year or two,sell the property on again and pay only 18% tax on the profit.

This will mean the property prices in spain will seriously increase.

More Happy news for purchasers at Roda.

Ace........

The flip side of that of course is that it might have the result of people who already bought now flooding the market and further depressing the market  ??

I hope you're right for Roda purchasers but who knows what the future will bring  ??

Hi All,

Is there any experts out there on capital gains tax ?

When 1st buying our apartment we remember being advised that if you were to pay a one off fee on completion to the spanish government (some percentage of the price of property, cannot remember the % though) that you would not have to pay any capital gains tax thereafter on your rental income. Does any body know if this is the case and what is the % ?

Also do you only pay capital gains back in the UK if youre rental income is paid into a UK bank ? I.E if the income is paid into a spanish bank account and not transfered to the UK do you still pay capital gains in the UK.

Hope someone can advise cheers.

Rory and Mandy .     

CAN YOU E-MAIL ON TO ME YOUR E-MAIL ADDRESS AND I WILL THEN FORWARD ON TO YOU SOME INFO.

REGARDS

PATRICK