19 Dec 2006 9:00 PM:

Well, the info was not really correct.

Obviously, the tax liability in Spain would not be personal, and it comes determined by the place where the asset is located (Spain). CGT for selling your property as a non resident will be reduced to 18% next year. Then the personal obligation that ou may have in the UK comes determined by a personal obligation (being a national and/or domiciled)

Residents in Spain (regardless the nationality) who sell their first residency (usual home) will not have to pay CGT on the profit if they reinvest the proceeds in another first residency during the following 2 years.

I hope the info is useful. Regards.

Thread: CAPITAL GAINS TAX

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28 Nov 2006 9:08 AM:

To mikesmith4: Yes, you can.

Regarding rental income tax having to be paid in the UK, mate, you have the most imperialistic system in the world together with the States.

Rental income has to be taxed in the country where the rent is generated because the asset is there. If your tax system attracts tax for that as well, then just use the tax treaty to state you have paid on that already. Obviously, if you have paid a higher tax already, ther is no refund, but it is logic.

Thread: This is a taxing subject

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23 Nov 2006 2:56 PM:

Hello,

 

Let's see. Everything is subject to the agreement of tthe parties. But usually if a property is in such a legal situation (the heirs still have to accept the will and pay IHT, and they also have a different registered area) then,  they usually reduce the price to let the new purchaser sort the situation out (except the inheritance thing, since they have to be the legal owners according to the Land Registry to be able to sell).

Otherwise, the correct thing to do would be to include everything in the price (knowuing the cost that the vendors will incur) and sell the property fully registered and with the inheritance situation sorted (as I said this is a prerequisite that can be done at the same time, but obviously the sellers need to be the ones reflected in the Land Registry). 

If the construction is more than 4 years old and is not against the urban plan, then an architecct will be able to issue a certificate for that construction to be included in a notary deed for new construction, that will have to give a value on the construction, pay the stamp duty on that, and tthen take the deed to the Reggistry so the construction can be added in the Land Registry information of the property. 

Thread: Undeclared land

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23 Nov 2006 12:19 AM:

In case anyone wants to know:

the 6th of Dec is the Constitution day

the 8th of Dec is the day of the Inmaculate conception (religious)

then the following bank holidays this year will be the 25th of Dec., and then the 1st of January 2007. After that, the 6th of January is the "Reyes Magos" but it happens to be a Saturday. In exchange, there is no boxing day here. The 26th of Dec is just a normal day. 

I don't really think there are more holidays here than in other countries. Their distribution is just different.

Thread: Tell me about the Bank Holidays in December

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23 Nov 2006 12:07 AM:

C'mon, it's easy! I already learnt...English :-)

Smiley is right, but what you will probably appreciate more than the  way the spanish people could or will treat you is the fact that you will be able to enjoy more things (local news, conversations and activities in the local area where you are, national TV news, etc.), which I believe will be better than just being able to interact with a more reduced community of people. At least, when I have been living abroad I have enjoyed it much more (or just survived :-)) being able to speak the language.

The accent or the verbs tenses are not a problem...Spanish people wil make an effort to understand you :-)

Good luck! 

Thread: So how many of you are learning to speak Spanish?

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