Non Resident - Tax Paid on Sterling Savings - Help Required to Recover Money

Post reply   Start new thread
:: New - Old :: Old - New

Pages: 1 |

Forum home :: Latest threads :: Search forums
The Comments
15 Sep 2009 00:00 by Buckshe Star rating. 9 posts Send private message

Hi

My wife and I took ownership of a new property on 23/7/08 on the Costa Blanca South and whilst we are finding our way through the Spanish tax haze, I was unaware that you have to register your non resident status with the bank every 2 years otherwise you become liable for tax on bank savings amongst other things. Such bi-annual declaration expired in February of this year and my bank failed to advise me that we needed to sign another declaration of non residence. As a result, £137.36 was taken each month from my Spanish bank sterling account between 11/3 and 11/6 under the debit details of ‘I. TAX W. INT.’ until the bank corrected the oversight after several requests from me. Whilst the bank refunded me one payment, I am still £412.08 out of pocket to the Spanish taxman.

I have £150K invested in a Spanish bank which enables me to have a 162K € overdraft, until the poor exchange rate reverses and enables me to buy the Euros at a better rate than is currently available. With this facility, I pay (more) interest on the overdraft and the bank pays me (less) interest on the savings. So effectively the savings capital simply cancels out the overdraft debt. My bank has handed the problem to me so I am looking to recover the outstanding amount of £412.08 overpaid to the taxman. Can anyone please advise how best this can be done and what charges will be levied for services to achieve recovery? I have already had one quote of 50 € just to look at my bank statements and to advise a further cost on recovery by the same 3rd party. Doesn't seem too hotter deal having to pay someone to give me a price for them to provide me with a service!

Additionally, can anyone please advise whether I am liable for other taxes than those below?:

  1. Local taxes, refuse etc. – which is already collected by Aquagest on behalf of the town hall through a percentage tax on water consumption
  2. Land tax – which is already set-up with Suma to be automatically paid annually by direct debit
  3. Form 210-A tax for non-resident, non-rental property.

  1.  

Any help would be appreciated.

Many thanks.

Neil





Like 0      

Pages: 1 |

Post reply    Start new thread


Previous Threads

Which form ... ? - 1 posts
Spain's Struggles Illustrate Pitfalls of Europe's Common Currency - 0 posts
La Herrada [Los Montesinos] - 0 posts
Asda in Mijas-Costa - 8 posts
When the Judge finds in your favour, what date is used to decide the amount of interest? - 5 posts
Renting out - 2 posts
Reply button - 11 posts
Carrying cash through the airports - 3 posts
Got a buyer but what to do with the cash? - 19 posts
Power Of Attorney - 1 posts
Advice From Justin Re. Sicily - 1 posts
costa advice bureau - 1 posts
How best to market Costa del Sol property to buyers in Madrid? - 2 posts
Spain: the property street market for europeans - 0 posts
Charity Event For Cancer Relief in Torreguadiaro 26/09 - 0 posts
Property in the Estepa area - 0 posts
The restore action - 4 posts
patrick swayze has died today - 5 posts
Costa Blanca TV - 12 posts
derek - 0 posts
Two ordered to prison for refusing to demolish their illegally-built home .. - 0 posts
Agency fees - 3 posts
Tercero Mundo en Espana! - 6 posts
Free Luggage Allowence - 6 posts
fishing - 0 posts

Number of posts in this thread: 1

DISCLAIMER:  All opinions posted on these message boards are the opinion solely of the poster and do not necessarily reflect the opinion of Eye on Spain, its servants or agents.


1 |
Our Weekly Email Digest
Name:  
Email:
   


This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x