Paying Spanish tax on UK investment properties

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    Paying Spanish tax on UK investment properties

    I have a number of tenanted properties in the UK. I'm looking at leaving the UK due to the general buffoonery and climate at present and am looking at Spanish residency. Anybody have experience of self assessment in Spain and expenses one can claim to offset?

    #2
    Maybe Spain has no less buffoonery and indeed outright fascist inclinations. Catalonia anyone? Certainly rank very highly on racism surveys too.

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      #3
      The Spanish Tax system has dual tax agreement with UK. You only pay tax once on the rental income .

      However Spain has a more complex system than self assessment , its called wealth tax on world wide assets starting from 700,000 Euros paying between 0.2% and 2.5%

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        #4
        Originally posted by AndrewDod View Post
        Maybe Spain has no less buffoonery and indeed outright fascist inclinations. Catalonia anyone? Certainly rank very highly on racism surveys too.
        Any chance of disclosing these racism surveys?You seem to have alot to say about fascim-are you for or against?

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          #5
          The Guardian ( on 21 Sept 2020) has reported that UK banks may not offer banking services for customers living in the EU.

          https://www.theguardian.com/money/20...arclays-brexit

          " Thousands of Britons living in the EU will have their UK bank accounts closed by the end of the year because of the UK’s failure to agree a post-Brexit trade deal.

          Lloyds, Barclays and Coutts have informed retail and business customers that they will lose their accounts before or when the Brexit transition period ends on 31 December and more banks are expected to follow suit.

          Lloyds Banking Group, which includes Halifax and Bank of Scotland, has contacted its 13,000 customers in the Netherlands, Slovakia, Germany, Ireland and Portugal, warning them they must make alternative arrangements as the bank is no longer allowed to offer services. "

          "One Lloyds customer said she feared she would be cut off from her UK pension payments after the bank had informed her she would not be able to use her current and savings accounts after 2 November. Her balance will be returned to her as a cheque and all payments after that date will be returned to sender.

          “I don’t know what will happen about tax rebates from HMRC or council tax and bills on the property we own in the UK,” she said."

          Comment


            #6
            Financial services in the UK can currently trade across the European Economic Area (EEA) because member countries are bound by the same regulatory framework.

            The arrangement, known as “passporting”, expires at the end of the year and, while the UK has legislated so that EU banks can continue to provide services for customers in Britain, the EU has not done the same.

            Unless a trade deal is agreed with the EU, UK financial institutions will have to abide by often arcane rules which vary from country to country and depend on what services are being offered by what kind of bank.

            Last week, the Dutch National Bank confirmed that UK banks will no longer be able to provide current or savings accounts to retail customers in the Netherlands.

            Customers who bank with firms that own EU-based subsidiaries are having their accounts transferred, but banks that do not have an EU arm would have to apply for a licence to trade in each EEA country. Some banks have too small a customer base in the EU to justify the cost.

            ( copied from same Guardian report )

            Comment


              #7
              Originally posted by Jon66 View Post
              I have a number of tenanted properties in the UK. I'm looking at leaving the UK
              If you intend to leave permanently, you might want to get some UK legal/financial advice on domicile, particulalry if you plan to leave any of those properties to anyone in a will. While you're at it, you should think about making a separate Spanish will for your assets there and both wills should be clear on what impact they have on each other. Again, specialised advice is recommended so that your executors don't end up spending nearly 6 years trying to get probate because you didn't do your homework!

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