What is the Tax on the Increase in the Value of Urban Land? It is a local tax, the collection of which corresponds to the Town Councils. Taxable event: the increase in value experienced by the land and which arises as a result of the transfer of ownership of the land by any title transfer Continue reading…
Tax need not be taxing ……………. Non-residents tax – what do I need to know? What is it? A sometimes little-known, annual tax based on your rateable (“catastral”) value which is stated on your SUMA bill and the amount you pay depends on when the property value was last revised. It is a tax paid Continue reading…
Anyone who is resident in Spain and spending more than 183 days a year in this country and receives worldwide income over the amount of the threshold set by the Spanish tax office is legally obliged to make an annual tax declaration. Remember that if you hold a residency certificate you cannot expect to be Continue reading…
We continue to see evidence of the Spanish tax authorities clamping down on tax evasion in all its forms and an ever -increasing use of the UK tax authority (HMRC) as a collections agent of unpaid Spanish taxes. People with a “foot in both camps” need to take note! For people who are genuine non-residents Continue reading…
Anyone spending more than 183 days a year in Spain is considered to be tax resident, however if you only have income from one source of less than 22.000€ you do not need to submit a Spanish tax return. If you receive income from two or more sources and earn more than 12.000€ you are Continue reading…
Dear Clients, As you are probably aware, the Spanish Government introduced a Law (7/2012) to fight and prevent fraud; therefore, all personal or company residents in Spain are under an obligation to submit information regarding assets outside of Spain by means of declaration form 720 which has to be submitted by the 31st of March Continue reading…
We are often asked to advise on how best to cover the welfare of pets after the owner´s death. This can be a real issue where there are either no next-of-kin or none living in Spain. There are a number of registered animal charities in Spain nowadays and it is worth making enquiries as to Continue reading…
We have written previously about Powers of Attorney for use in Spain. However, many people have assets in the UK as well as in Spain. The new rules introduced in England to create the so-called “pension freedom” mean that often a fund is able to be drawn down to provide an annual income and a Continue reading…
Anyone spending more than 183 days a year in Spain and receiving income (worldwide) over the amount of the threshold set by the Spanish tax office is legally obliged to make an annual tax declaration. Once in the Spanish tax system, it is possible to apply for a “certificate of fiscal residence” which is needed Continue reading…
Changes to Spanish Wills There has been quite a bit of publicity recently about the need to change our Spanish Wills. Is there any need to panic? The answer is that there is no need to panic but it is necessary to review your current Will (or lack of one) in the light of your Continue reading…