Taxation on two properties

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22 May 2007 00:00 by Dream Hills Star rating. 3 posts Send private message

Hi,  I have been residing in Spain now for 18 months, had a few teething problems but things seem to be running smoothly at the moment.

Can anybody give me advise on what the tax issues are with owning two properties in Spain. I am thinking of buying a new house, the house is off plan not ready for at least 4 years. I cant sell my house till the new one is ready, so there may be an overlap,It could take a year to sell my house, so in the eyes of the law i will own two properties in Spain.

Can anybody advise what the law states.?

Thanks.





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22 May 2007 13:48 by semijubilada Star rating in London/Torrevieja. 1052 posts Send private message

A friend of mine has two properties in Spain and she is a non resident.  She pays the same taxes of each one, wealth and patrimonia, plus tax on income on one as she now rents that out.

Do resendents pay wealth tax on second properties?  Possibly only when you sell but technicaly you are selling your main residence so I would have thought the amount would be neglidgable.

Ouch spelling

Zena





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23 May 2007 11:21 by FibbyUK Star rating in UK, Surrey & Playa F.... 2349 posts Send private message

FibbyUK´s avatar

Welcome to EOS Dream Hills

I can't answer your question, sorry, but just dropped in to say welcome!

Regards



_______________________

FibbyUK

One off fee to pay your own La Renta tax (210 Form)
Check out my website:

http://www.payingtaxesinspain210form.pwp.blueyonder.co.uk/

 




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23 May 2007 14:28 by EOS Team Star rating in In Spain of course!. 4017 posts Send private message

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Hi Dream Hills

Welcome to the site.

Maybe try posting your question in the "Spanish taxes" area of the forum as it wil get the proper exposure there.

Regards

Justin


_______________________

Schools in Spain Guide | The Expat Files | Learn Spanish | Earn a living in Spain




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23 May 2007 15:14 by Dream Hills Star rating. 3 posts Send private message

Thank you for the warm welcome. Have taken your advise and posted on the other forum.

Thank you once again.

Amanda

 





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24 May 2007 08:53 by suemac Star rating in Jumilla, Murcia. 1001 posts Send private message

Hi Dream Hills

Justin, hope this post is OK as it's not really an ad!  I had an email from Moneycorp, having been to the recent A Place in the Sun Live exhibition, and they are offering a free financial guide, which has been written with Blevins Franks.  Having bought the Blevins Franks book "Living in Spain" at the Viva Espana exhibition, I can say it was very comprehensive, even if reading it sends me to sleep!  The link for the free guide is: http://www.moneycorp.com/personal/financialguide/.

Regards.

Sue



_______________________

 Sue Walker

Author of "Retiring the Ole Way", now available on Amazon

See my blog about our life in Spain: www.spainuncovered.com




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