The European Commission has referred Spain to the EU’s Court of Justice over its succession tax rules. The Commission argues that the rules are discriminatory because they require non-residents to pay higher taxes than...
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Are you a UK resident who owns property in Spain? HM Revenue & Customs (HMRC) has announced its latest tax evasion crackdown, and this time the focus is on taxpayers who own property abroad. If you are a higher rate UK...
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When selling your Spanish property you should always know what costs you will incur and what your liabilities are. It is advisable to use a solicitor, who should ensure that your legal and tax requirements are met and that there...
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It was only to be expected really. Just three years after the unpopular tax was abolished the government had no choice but to reinstate wealth tax as it searches for measures to increase revenue to reduce the public deficit and...
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Moving to Spain. Many people moving to Spain take one of two views when they leave the UK: they either consider that they can remain paying taxes in the UK and that they won’t be ‘found out’ by the Spanish tax authorities,...
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As a Spanish resident, you will be liable to pay tax in Spain on your worldwide income and gains, including those from offshore financial centres like the Isle of Man and Switzerland. Income and capital gains tax Since 2007...
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If you own, or are thinking of buying, property here in Spain, you need to be aware of all the tax implications and what your tax liabilities are, both in Spain and your home country if you are not resident in Spain. These vary...
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Trusts can be particularly useful for British expatriates who live in Spain for tax mitigation purposes and also for arranging your wealth for the benefit of your family. What is a trust? A trust is a legal relationship which...
view this propertyMany British expatriates arrive in Spain to live without fully understanding the local tax situation or any obligations that may remain to the UK taxman. There are quite a few myths around and unless you are properly informed you...
view this propertyWhen Tax planning in Spain few expatriates used to think twice about opening an offshore account. They provide a means of keeping Sterling outside the UK (useful to help prove your UK-non residency status); you can usually...
view this propertyOn 23rd July the results of the much anticipated stress tests on European banks were published. There were no surprises, with just seven out of the 91 banks tested across the 27 EU Member States failing. But does this mean...
view this propertyWealthy individuals living in Spain need to brace themselves for an unexpected tax shock. Spanish Prime Minister, José Luis Rodríguez Zapatero, has announced an imminent tax increase for “those who actually have more”....
view this propertyBritish expatriates living in Spain want to feel confident that their wealth will last them for the rest of their retirement and keep them in a comfortable lifestyle. Paying less tax is one way to protect your assets and...
view this propertyFrom the 1st July, 2 of the 3 categories of Spanish VAT will rise. 16% to 18% 7% to 8% 4% (is to remain the same). What does this mean for the Spanish Property market which is already struggling to survive the...
view this propertyDoes It Apply On Overseas Properties? The Spanish gains tax regulations can provide relief on the sale of the main home for Spanish tax residents whose property qualifies as their habitual main residence. If you are 65 years or...
view this propertyOn the 15th February 2010, a new UK HM Revenue & Customs (HMRC) statutory instrument came into force, the implications of which create significant opportunities for British expatriates to save local taxes in Spain as well as...
view this propertyHomebuyers still prey to uncertainty: Should I buy now, wait… or what should I do? It now appears that home prices have not fallen as much as everyone thought, or at least according to the most important statistics. And...
view this propertyThe Spanish Inland Revenue ‘penalises’ anyone who buys a bargain-priced home. The tax authorities have minimum prices for residential properties. When you buy a second hand home you have to pay a property transfer...
view this propertyMore wealthy people are expected to leave the UK to reside abroad some become Spanish residents and escape the new 50% tax rate for higher earners. Now the UK tax authority has warned that it will dig deeper to determine...
view this propertyAs with the start of any new year we’ll wonder what it will bring. Unfortunately, one assumption we can make about this year is that we’ll be forking out more in tax. Here in Spain, VAT will increase, as will the tax rate...
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