Property owned by Spanish SL

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Sunday, November 19, 2006 rob33ert Parcela I've made 5 posts Send private message to rob33ert	Does anybody know what (if any) expenses e.g mortge interest, utilities etc can be offset against rental income if the property is owned by a Spanish SL with non-resident shareholders. I know that for direct ownership by a non-resident no expenses can be offset. Spam post? If so please click here to report it
19 Nov 2006 10:35 PM Smiley EOS Superstar I'm in San Pedro de Alcantara I've made 2137 posts Send private message to Smiley	I need to check tomorrow but I think that Hacienda have almost made it pointless buying in a company structure. RGds _______________________ *Smiley* - patrick@marbellamortgages.com www.marbellamortgages.com *Sarcasm is the lowest form of wit .....but any form of wit is an achievement* NO MATTER HOW MUCH MONEY YOU HAVE GOT, IF YOU HAVE NOBODY TO SHARE IT WITH, THEN ITS JUST NUMBERS IN THE BANK. TO ESCAPE CRITICISM DO NOTHING, SAY NOTHING, BE NOTHING! Spam post? If so please click here to report it
20 Nov 2006 10:56 PM DonH Studio I'm in Almerimar, Almeria and Playa Blanca, Lanzarote I've made 43 posts Send private message to DonH	Saw an advertisment today in Living Spain magazine for the "Quill Group" selling the concept of a "Patrimonio Familiar" tax shelter. According to their copy it is effective for dramatically reducing Spanish annual Wealth Tax as well as Inheritance Tax and Capital Gains Tax liability in both Spain and UK. The setup costs appear to be between 5,000 and 10,000 euro with moderate annual charges. Does anyone have specific information or a view on the effectiveness of this? _______________________ Check out the best prices on all kinds of stuff ... www.pricedude.co.uk Spam post? If so please click here to report it
21 Nov 2006 12:32 AM Spanish Inquisition Parcela I'm in Puerto Banus I've made 16 posts Send private message to Spanish Inquisition	For rob33ert: If the company is registered for the activity of renting, then it will be able to offsett the costs generated by the activity (staff, general business expenses, etc.). If the company is not registered for activity, then the only cost to be offset is the interest of the mortgage; or if the rental income is through short term rent (where the utility costs are not contracted by the tenants) those costs could then be deducted by your accountant. For DonH: I am not sure on how the want to make it work, but it seems that the assets are transferred into a company structure where the shareholders and company directors are other legal entities. In any case, the direct owner will be a Spanish Ltd company, which is, at the end liable for an annual company tax, and in that return the rental income has to be reflected if received directly by the company. For both, CGT for non residents is likely to be reduced to 18% effective next tax year. _______________________ Rafa rm@iclawyers.com www.iclawyers.com Spam post? If so please click here to report it
23 Nov 2006 10:38 AM DonH Studio I'm in Almerimar, Almeria and Playa Blanca, Lanzarote I've made 43 posts Send private message to DonH	Thanks for the info. _______________________ Check out the best prices on all kinds of stuff ... www.pricedude.co.uk Spam post? If so please click here to report it

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