Hypothetical scenario

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03 Oct 2008 00:00 by Lauryc Star rating in Was South Devon .. n.... 568 posts Send private message

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If we move to Spain and close down the company.. then my husband goes sub contract and works in London during the week... then pays autonamo, we would be on the Spanish system, I presume.

Then ...after a year or so, we sold our UK house... 

Would the money from the sale be liable to capital gains tax in Spain?

Laury

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Laury




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03 Oct 2008 08:49 by mariadecastro Star rating in Algeciras (Cadiz). 8057 posts Send private message

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Laury:

Full explanation needed... specially on a Friday and... out of batteries

Maria

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03 Oct 2008 09:45 by Lauryc Star rating in Was South Devon .. n.... 568 posts Send private message

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Hi Marie
Thanks for coming back to me.

Well at the moment we are in the UK and have a Ltd company.

When we move to Spain in a month, my husband will have to carry on earning to pay our commitments. So he will be commuting to London from Spain on a Monday to Friday basis. If we continue with our company, we fall under the British tax systems.

If, when we move, we close down the company and my husband elects to sub contract to the British companies and commute, we would presumably fall into the Spanish system and pay our taxes etc there.

As our UK house hasn't sold and is being rented for now, we will be looking at the market next year and perhaps getting a sale then.

Under the British system there would be no capital gains as it's our main residence in Britain. In Spain, however, wouldn't it be classed as a second home?  I wondered if we would have to pay gains on any profits.

I don't suppose that makes any more sense.

Laury



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03 Oct 2008 10:37 by Lauryc Star rating in Was South Devon .. n.... 568 posts Send private message

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Another option.

Set up a LTD company in Spain which owns the shares in the UK?
Freedom of money movement between countries?

Now i'm really getting confused. 

Laury



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