UK Tax Return

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25 May 2009 00:00 by swanny Star rating. 14 posts Send private message


I hope someone could offer some advice.  I live in the UK and I am renting my apartment out in Spain.  I have a mortgage on the apartment and I am currently not making a profit.  I use a solicitor in Spain who deals with the Spanish Tax but should I also be filing a self assesment in the UK?

My husband is self employed in the UK but the property in Spain has no links to his business, will the Spaninsh property have an impact on his business accounts?


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25 May 2009 11:37 by myra cecilia Star rating in Manilva Malaga. 213 posts Send private message

Dear Swanny.

Why are you mentioning to anyone about the rental of your property in Spain. If you wish more details send me a private msg.




Myra Cecilia.

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25 May 2009 12:20 by Marksfish Star rating in Sandy, Bedfordshire/.... 2413 posts Send private message

Marksfish´s avatar

We bought our apartment in December 2007 and by July 2008 I had a self assessment form courtesy of the nice Mr HMRC to fill in. The form is useless for those of us that are PAYE, I was even told my company had underpaid my tax and I owed 61p !!  So I paid with my debit card which probably cost them almost as much in fees as they received . There is also another form that should be sent for overseas property owners where you have to declare your overseas income and how much tax you paid on it in Spain. You can list your losses (at the moment) but it doesn't get set aside against your tax. With your tax paid in Spain, there should be nothing to pay in the UK due to the double taxation treaty.



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25 May 2009 18:25 by swanny Star rating. 14 posts Send private message

Thanks for the response Marksfish.


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19 Jul 2009 16:33 by cooberpedy Star rating. 91 posts Send private message

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Hi    reading posts in various forums has led me to understand that we have to declare income from letting our apartment for holiday rentals to the HMRC  (we pay all the taxes etc we need to by Spanish Law)   but that there is a deadline of 31st July this year by which we can actually possibly maybe hopefully!!   reclaim some of the money    - don't understand it at all and am desperately trying to find someone to explain it simply ( a contradiction in terms I know  with the UK tax authorities)

We currently have a mortgage on the property the interest on which is far greater than rental income   but can't understand what exactly we can claim as reasonable expenses and how to prove same.

I have read some links :- Do you own an investment property in Europe      published in World Property Showcase on 13th July   and following that I logged onto the Directgov site    Tax on overseas property lettings.

I am currently trying to find a local accountant who may have some knowledge of the paperwork   but would sincerely appreciate any insight from anyone already into this subject


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19 Jul 2009 22:00 by Marksfish Star rating in Sandy, Bedfordshire/.... 2413 posts Send private message

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Unless you are running it a a registered business, you won't be able to reclaim anything against your personal tax. On the UK tax return, you state how much tax you have paid abroad and if it is less than that due in the UK, you are liable for the balance. If the amount paid is more than in the UK, you may be able to reclaim the difference.

In Spain, as a non resident, there is no allowance against rental income to off set mortgage interest, depreciation, insurances, etc. In the UK you can set against these allowances, so you will pay your Spanish taxes. As a consequence, you shouldn't be liable for anything in the UK, we haven't been yrt!!



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29 Jul 2009 11:29 by smiffyinspain Star rating. 61 posts Send private message

Not sure if this is the right forum to post my query on but hope someone can help me.

I pay spanish tax here I have paid for the year 2008-2009 because it is cheaper to pay tax here than in the uk. I have a private pension which I am told by HMRC that I can transfer to spain and pay tax here. I have submitted form FD9 via my solicitor to claim the tax back,

I have just received a self assessment tax form to fill in which I find very complex it goes on about domicile and split tax et etc,tocut a long story short, I find it very complex and although they give you notes on the subject I still find it a mindfield to fill out.

I was wondering if anyone knows of any accountant in spain who is averse with uk self assesment filing. Ihave tried one company in spain but they dont do uk tax returns and my solicitors accountant does not know anything about uk self assessment. Any advice would be gratefully received.


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