Capital Gains Tax Free For Disabled?
#1
Capital Gains Tax Free For Disabled?
Hi
I understand that in the UK if you are regitered disabled you can avoid paying some/all capital gains tax on property sales when below retirememt age, is there a similar scheme here in Spain?
I understand that in the UK if you are regitered disabled you can avoid paying some/all capital gains tax on property sales when below retirememt age, is there a similar scheme here in Spain?
#2
Re: Capital Gains Tax Free For Disabled?
Where did you get that information?
AFIK, disabled people are entitled to the same tax free CGT as any other individual, i.e. £10,100.
A.n.other trustees get a reduced allowance £5,050
Normally there is zero CGT liability when selling your main residence in the UK.
AFIK, disabled people are entitled to the same tax free CGT as any other individual, i.e. £10,100.
Trustees for disabled people
If you're acting as a trustee for a disabled person you use the higher Annual Exempt Amount above - and not the rate for 'other trustees'.
A disabled person in this context is a person who has mental health problems or receives the middle or higher rate of Attendance Allowance or Disability Living Allowance.
If you're acting as a trustee for a disabled person you use the higher Annual Exempt Amount above - and not the rate for 'other trustees'.
A disabled person in this context is a person who has mental health problems or receives the middle or higher rate of Attendance Allowance or Disability Living Allowance.
Normally there is zero CGT liability when selling your main residence in the UK.
Last edited by missile; Jul 7th 2010 at 7:07 pm.
#3
Re: Capital Gains Tax Free For Disabled?
If you are resident in Spain then CGT is not normally an issue as people who sell a property usually reinvest the proceeds in another property and then avoid CGT.
In the UK they do not have the same "roll over" relief as in Spain so it is possible that disabled people may well have a special deal.
#4
Re: Capital Gains Tax Free For Disabled?
I am not aware of a specific allowance against CGT for disabled people - why should there be?
If you are resident in Spain then CGT is not normally an issue as people who sell a property usually reinvest the proceeds in another property and then avoid CGT.
In the UK they do not have the same "roll over" relief as in Spain so it is possible that disabled people may well have a special deal.
If you are resident in Spain then CGT is not normally an issue as people who sell a property usually reinvest the proceeds in another property and then avoid CGT.
In the UK they do not have the same "roll over" relief as in Spain so it is possible that disabled people may well have a special deal.