Donate SIGN UP

capital gains tax

Avatar Image
vinnyk | 17:03 Thu 23rd Mar 2006 | Business & Finance
11 Answers

does anybody know the capital gains tax paid on a property sold in Costa Blanca Spain ? I have been told that it is 40% !!! seems a lot to me


Gravatar

Answers

1 to 11 of 11rss feed

Best Answer

No best answer has yet been selected by vinnyk. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
Are we talking Spanish tax or UK tax?
Question Author
Spanish tax !
For non-residents the capital gains tax would be 40%.

Question Author
Thank you Ethel thats good of you , just out of interest do you also know what it is for residents.........vinny
If you live in UK do you have our Tax to pay as well ?
Question Author
thanks hard@it but I want to live in Spain and would like to know the tax I woild have to pay if I sold my house
You would have to pay 40% but you don't really need to. Why not make a appointment with financial planning manager at your local bank and ask to setup a trust. one that you still control and can withdraw from when you are living. This does not need to be declared not even when you die. It does need to be declared with probate. And can be transferred straight to the beneficiary. This way you avoid even paying inheritance tax as well
Question Author

Hey that's a great idea , thank you very much Dbeat01


from vinny

Where are you moving to vinny?


Just that Costa Blanca has bad rep at the moment.

Question Author
Hi Frankief am looking ar south Costa Blanca , south of Torrevieja in fact , we have been there on a visit and it is very nice not cheap but affordable . Heard about the crime there but speaking to people there it is not as bad as here in UK or anywhere else........cheers vinny

1 to 11 of 11rss feed

Do you know the answer?

capital gains tax

Answer Question >>