06 Mar 2010 11:06 PM:
Creating an S.L. (or Ltd company in the UK) company to shelter spanish tax in all it's various forms sounded fine until I was quoted GPB 7000.00 for setting up such a company.
I only have one spanish property (which I am unable to sell) and currently rent out for a paltry sum (which hopefully will be just enough to cover my overheads)
I hav'nt done the sums, but this does sound excessive, and smacks of rippng off british investors with a second home in Spain which they are unable to sell and who are stuck with paying all sorts of taxes (or paying someone to sort out the tax Spanish tax jungle for you) just to keep the bailiffs and the hacienda from the door.
Owning a second home in Spain (for me anyway) has turned into a financial nightmare - paying a huge amount for the deeds through a 'Notary' (what exactly is his function?) was bad enough and now to be quoted such an enormous sum to 'legally' scam/shelter spanish taxes is appalling - and all this on top of the weak pound, Ryanair treating you like a non-person, car hire rates on the increase and a never ending list of taxes to pay (never mind the systemic town hall corruption) - Arrrrrgh........
This message was last edited by heffin on 06/03/2010.
Forum thread:
Spanish Income Tax on rental income for non residents
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