20% CGT refund on properties sold between 2004-2008

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13 Apr 2008 12:00 AM by promedia Star rating in Cheshire/Riviera del.... 131 posts Send private message

I read in the sunday express today under the headline 1000's of euros to be refinded to spanish property sellers, that all properties sold in spain between 2004 and 2008 where 35% capital gains tax was taken from the profit, mainly from expats, has now been declaired illegal by the european parliment as the spanish only had to pay 15%.- the 20% surchsrge must now be refunded if they are asked for it.

They only have to go back 4 years due to statute of limitations laws, but if you have sold a spanish property in that period, it may be worth checking with your solicitor what you paid and if they can get you a refund.

Has anyone else picked up on this, is it being discussed in Spain and in the Sur in english???

I'm calling my solicitor on Monday for sure.

Can you give us some more advice locally???



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14 Apr 2008 7:04 AM by EOS Team Star rating in In Spain of course!. 4015 posts Send private message

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Well, I don't think this is quite right.  It's to do with a Spanish law firm that's saying that the 35% CGT charged to foreigners was illegal and they are taking the matter to the European court. 

They are saying that if you were affected by this then you can do the same.

In my view, you would need a lot of money to do this but I assume they have publicised it so that you get them to do it for you.

You can see more at www.spanishtaxreclaim.co.uk

Justin

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14 Apr 2008 12:26 PM by sandra Star rating in . 812 posts Send private message

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Here's the link to another article about it:-

Click herel=0

Although I read on another forum that it's possible the people who made huge profits in the boom years were quite happy to walk away from the 5%(?) retention, because reclaiming it may have lead to further tax labilities on the profits.

 



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16 Apr 2008 12:22 AM by morerosado Star rating in Guardamar del Segura.... 6927 posts Send private message

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http://www.spanishtaxreclaim.co.uk

Spanish Tax Reclaim Helpline 0845 680 3849 or email
info@spanishtaxreclaim.co.uk


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