Property Swap

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14 Oct 2013 15:18 by teddyshadyblue Star rating. 2 posts Send private message

Does any one know the tax implications for permanently swapping a Spanish property for one in the UK.?


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14 Oct 2013 15:29 by camposol Star rating in Camposol. 1408 posts Send private message

Depends whether you are a resident in Spain;if so, you can get roll over relief if you use the proceeds of your sale to buy another property within 2 years;if you don't use the whole proceeds you will pay CGT on the remainder.If you are fiscally resident, over 65, and lived in the property 3 years you don't pay CGT anyway. Still have to declare on the  tax return though!

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15 Oct 2013 15:22 by camposol Star rating in Camposol. 1408 posts Send private message

Also, try


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15 Oct 2013 16:02 by Kathyslad Star rating. 329 posts Send private message

I must admit I don't know the answer to this, but I would have thought it was the same as if you sold it and received the cash, and then reinvested the proceeds in the UK. The reason being, that the consideration( i.e the property you receive in settlement) has a fiscal value, and therefore its just a financial transaction at the end of the day. So normal transfer tax, notary fees, and capital gains if applicable ( see Campasols posts).
Just checked the HMRC website, and if the transaction was in the UK, then it would be as I posted, so my guess is Spain would be the same
This message was last edited by Kathyslad on 15/10/2013.

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