720 and Income Tax

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18 Feb 2020 19:51 by mariedav Star rating in Ciudad Quesada. 1101 posts Send private message

That time of year again which I dread. The 720 Declaration of Assets closely followed by the Income Tax returns.
Don't know why it upsets me so much but I always have a dread of doing the sums wrong and ending up with a massive fine. That and the dire threats that fines could be 52% of the amount undeclared plus a €10,000 fine on top.

However, been informed by our solicitors that the exchange rate to use for 2019 is 1.1754 to the pound which actually seems a bit high to me but I'm sure they know better.

Remember that an amount in any category that has risen by €20,000 (Just over £17,000) must be re-declared.



This message was last edited by mariedav on 18/02/2020.

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19 Feb 2020 17:03 by Roberto Star rating in Torremolinos. 4534 posts Send private message

Roberto´s avatar

I know that feeling. I watched the BBC documentary about how much Amazon knows about you last night, which I admit is a little unsettling, but somehow I find the 720 far more intrusive and worrying than the fact that Amazon knows that my cat got a new bed recently, and is now (sublimally?) trying to persuade me that moggie also needs a new toy.




"Get your facts first, then you can distort them as you please"

Mark Twain




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