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23 Jan 2020 14:04:

In which case it is a fixed 19%  on the gain (if you are a EU citizen, 24% if you are not) but you can't claim the expenses.

So if your property sees a profit of 40k then you will pay a CGT of €7600. 

The 3% is retained from the selling price of the property (if 190k then €5700). If you pay the CGT owing then this is claimed back but, beware, the tax people will only try and contact you once. If your address or bank account details or anything else on the 210H is different then they will attempt to pay it once and, if refused because of bank account or address unknown etc then they won't try again and it will disappear into the ether. 

When we sold a flat (as non residents) some time back, the  bank changed our account number from a non-resident to a resident one as we became residents but was not recognised for tax purposes until the following year. The 3% was never returned and a gestor and solicitor all gave the impression that the 1800 euro wasn't worth it. Some 7 years later, we finally got to the hacienda in Alicante and finally received the money back (with about 300 euro interest or something like that).


Thread: CGT

23 Jan 2020 10:22:

Depends on a lot of things. Resident or non-resident, main home or second home, purchasing another property in the  EU, age and lenght of ownership for example. Buying a new home in the EU and no CGT if you use the profit to buy another home. Main home and over 65 living there for more than 3 years then no CGT and so on.

However, assuming you're resident and simply selling up, the CGT rates are:

  • Up to 6.000 Euros, the tax rate is 19%.
  • From 6.000 to 50.000 Euros, the tax rate is 21%.
  • From 50.000 Euros an up, the tax rate is 23%.

The price written in the title deeds (not the IVA) is the basic charge and you can deduct expenses like IVA, land registry fees, Notary fees, transmission tax and lega fees from the profit. 

If you've  made  improvements, like the pool, and done it properly then the deeds will be altered to reflect the increase in value. If the full 20k you mentioned is added to the value then the difference in value and selling price would be 40k. Deduct expenses of (say) 10% and the CGT would be based on 36.6 k. 

First €6,000 -=1140

Next €30,600 = 6426 

Total CGT 7566. Of course, I doubt if you'd pay anywhere near that if you get a decent solicitor.

And selling a property in Spain with those difference nowadays would mean that you either bought the property a long time ago (in which cas historic allowances come into play) or you've found a mug who is willing to pay well over the value. 

Thread: CGT

22 Jan 2020 20:36:

Not just Sabadell. When we went to pay some of the mortgage sum off the fee with Bancaja (now Bankia) was 1% of the payment, same as if paying the whole mortgage off. 

Some UK mortgage lenders will also charge  a fee from 1 to 5 percent if you pay off some of your mortgage but most allow you to pay off 10% in a year with no charges. Go over that and some will charge the percentage on the full sum you have paid off while others will only charge on the amount over that 10%.

Whichever country, read the small print.

(We had a mortgage in the 80s when the  interest rates were 13% plus. When the rates came down, we continued to pay the same amount thereby reducing the balance. In the third year of doing this, Halifax charged us 1% of the overpayment as we had exceeded the 10% allowed. We did pay off the mortgage early by nearly 10 years doing it that way, though).





Thread: CAM bank mortgage now Sabadell help please.

17 Jan 2020 17:10:

We are with Bankia and, if you have a pension, they require 200 euro a month to be paid in. If not then the fees are €6 per month.


Thread: bank charges

16 Jan 2020 14:38:

According to the Manilva town hall website, you can ring  619992389. to arrange a rubbish collection or for futher information.

It says you can put rubbish next to the communal bins from 7pm to midnight and it will be collected the following day if you've arranged collection.

Now, I don't know what  the procedure is there but we have the same and can't leave garden waste out, it's just for things like furniture and mattresses etc. We have a recycling plant nearby where we take the garden waste to. Try ringing that number and see what they say.


Thread: Garden Rubbish


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