jdr

If your lucky and sell it at the price they assume, it will just about pay the tax.

EsuriJohn

Hi jdr,

As I said yesterday the value of anything is the amount someone else is prepared to give to take it from you. Then you have to factor in all the costs of buying, selling and holding to determine if you have a profit or not These costs under the current Spanish CGT regime are high. If changes happen as a result of the European Court action it will be lower but you then have to factor additional holding costs against lower CGT.

Regards,

John.

keithwalters

Thanks Loco. The PDF is particularly useful.

PaulandDawnH

Whether the Spanish CGT relief is available or not, CGT is still payable in the UK on the sale of a foreign property by a UK resident. Under the double taxation relief rules, any Spanish tax paid will be taken into account when your UK liability is calculated.

Paul

Carol&John

Thanks, Tricia. I'm always interested! Have a look at eye on isla canela site. http://eyeonislacanela.com/eoc/eoicf...fid=1&tid=4027 I think the webcam overlooking the Guadiana is operational. Not tried the "webcam test page" instructions as yet ('fraid my computer might go 'kaboom!) Technophobe or what?
Regards,
Carol

shirley and anthony hide

My original comment that seems to have raised your blood pressure
was and I quote " to keep the riff raff out or MAYBE IN not to sure"
a small attempt at self deprecation which u obviously missed.So hardly arrogance on my part.

Tricia

Hi Carol

Yes, it went live yesterday afternoon (it stops at 5pm our time though each day). Go to the home page of www.eyeonislacanela.com click on the webcam link at the bottom of the page (not the video one) and hey presto, the Guadiana. I did not have to load anything on my comp it went straight through but there are instructions on the forum, I think that's maybe if your comp isn't up to it.

Tricia

Carol&John

Thanks again Tricia. Much easier this way!

shirley and anthony, I understood your post, and do not think you sounded arrogant.
sirrom, I think your post was out of order (Oh yes, chastise the behaviour and not the person...here we go!)
Tranquila!
Carol

ristemar

Hello, I am new to all this, but have bought a town house at Esuri, and have been looking around at various furniture shops, found a new showroom in Ayamonte called Casarama really nice furniture and lighting. 2000euros for a one bed package. Thought that was excellent value, well worth having a look . A very satisfied customer. All I need now is the house to be ready!Regards, Restemar

Carol&John

Hi Mike and Carol,
Enjoyed reading your post about settling in, and the plans for shops in the area. Thanks.
Re: The Oracle. Has there been a recent online issue? Still see the one with the monument on the front page.
Regards,
Carol

GerryW

Cool. However the re-sale plots are costa esuri. I'll check out the website...ta...G

EsuriJohn

Hi Carol&John,

If you scroll right down to the bottom of the Oracle page you will see that it is described as a test page. I picked up a hard copy of that original edition when we were out in February and I must say I was disappointed, it was definitely not up to the standard of the Guardiana in hard news content so I am not breaking my neck to get the next issue.

I heard a rumour that the Guardiana Editor Jon Stevens who wrote most of the Editorial content was assaulted in Seville to warn him off publishing more of the same and was badly beaten!

Regards, :scared:

John.

EsuriJohn

Hi GerryW,

I had a really good trawl through the plots and found on who's description most nearly matched mine. R 14-1 1077.12 sq m mine is 1066.98 sq m Southwest facing views over several fairways and greens with the best views to the border bridge on the whole site. R 14-1 is for sale at €190.000 I will have paid €121.000 for mine but if you factor in all my buying and selling costs, not including my Architects fees and taxes on both transactions I would loose money. Not a lot but a loss non the less and that presupposes that I quickly find someone with the same taste as me for big bridges and a bulging pocket book.

Am I worried NO NO! I bought the plot not as a speculation but as a home in the sun. I would hope to be carried from there in a box 25+ years from now leaving an endowment to my three kids for their lifetimes probably worth more than I can imagine if CE develops as we all hope it will over the next ten years.

I can't repeat often enough that the value of something is only what you can get somebody to pay to take it off your hands. I am sure that if I put it on the market with three agents they would all be talking around €200.000 but that would give them a big fat €20.000 fee and how long would I wait to get my money back, your guess is as good as mine.

Regards,

Carol&John

[QUOTE=John & Kath]...If you scroll right down to the bottom of the Oracle page you will see that it is described as a test page...[QUOTE]
Hi,
Just seen it! Thanks!
Re: rumour. Wouldn't want to mess with the press, in anybody's country.
Buenas noches,
Carol

A & M

[QUOTE=John & Kath]Hi jdr,

As I said yesterday the value of anything is the amount someone else is prepared to give to take it from you. Then you have to factor in all the costs of buying, selling and holding to determine if you have a profit or not These costs under the current Spanish CGT regime are high. If changes happen as a result of the European Court action it will be lower but you then have to factor additional holding costs against lower CGT.

Regards,

John.[/QUOTE

It's difficult to think of many forms of investment that don't potentially attract CGT or the equivalent, whether in the UK or abroad, unless you are a Rothschild or someone similar and are able to shelter vast sums of money in tax havens. I suppose you could invest all your money in a series of ISAs, but it would take over 8 years of maximum contributions from a couple to save up as much as the cost of a Rago apartment. Also, I have yet to hear of an ISA that you can sit on and enjoy the sun while admiring the view and enjoying a glass or three, let alone one you can walk to the golf course from.

From what I've read about Spanish CGT, the same sort of allowances are available as with UK CGT - i.e. you deduct all initial acquisiton costs (including taxes) plus improvement costs before calculating the tax. And of course the tax is on the gain, not the whole of the resale price. If you bought a second home in the UK, it would be just the same - you can only claim CGT exemption for one home. If Costa Esuri becomes your only home, then presumably you are entitled to Spanish residents' CGT exemption.

The non-residents' CGT rule in Spain sounds to me to be pretty much the same as it is in the UK- but I'm sure someone better-informed than me will tell us if I'm wrong.

A favourite saying of stockbrokers is "don't let the tax tail wag the investment dog". While I suppose you might say that "they would say that, wouldn't they?", it's ultimately a question of priorities.