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current taxes for selling a property in Spain

current taxes for selling a property in Spain

Old Sep 20th 2008, 5:23 pm
  #31  
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Default Re: current taxes for selling a property in Spain

Originally Posted by Jules Europe
Don`t get too hopeful look at the land grab situation. The EU has been putting Spain under pressure for years on this injustice and it still goes on.
has anyone experience os houswaps...
if we bought a spanish property for 1euro and they bought ours for £1..
then they wouldnt have any gains??would they...
the lady is in her 70's???any ideas of taxation

carole
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Old Sep 20th 2008, 5:30 pm
  #32  
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Default Re: current taxes for selling a property in Spain

Originally Posted by madcarole
has anyone experience os houswaps...
if we bought a spanish property for 1euro and they bought ours for £1..
then they wouldnt have any gains??would they...
the lady is in her 70's???any ideas of taxation

carole
A lot of people are talking about house swaps in Spain/Uk etc. I think you need the advice of a solicitor for the legalities not just the tax issue.

Big problem I would have thought, was that no two houses are going to be worth the same (size,location,price variations between countries etc) Are going to affect this. So a good chance that some monies need to be exchanged somewhere.

Maybe you may find somebody on this forum that has done this.
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Old Sep 20th 2008, 6:30 pm
  #33  
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Default Re: current taxes for selling a property in Spain

Originally Posted by Jules Europe
A lot of people are talking about house swaps in Spain/Uk etc. I think you need the advice of a solicitor for the legalities not just the tax issue.

Big problem I would have thought, was that no two houses are going to be worth the same (size,location,price variations between countries etc) Are going to affect this. So a good chance that some monies need to be exchanged somewhere.

Maybe you may find somebody on this forum that has done this.
thats what i was hoping for..

our houses are the sAme prices..obviously mine here and hers in spain. her daughter cam eto see my house today and her mum is coming next week.

pleasers crossed for us..This is the 3rd time we have sold our house and
3times the sale has fallen through at exchange..

carole
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Old Sep 20th 2008, 6:35 pm
  #34  
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Default Re: current taxes for selling a property in Spain

Originally Posted by madcarole
thats what i was hoping for..

our houses are the sAme prices..obviously mine here and hers in spain. her daughter cam eto see my house today and her mum is coming next week.

pleasers crossed for us..This is the 3rd time we have sold our house and
3times the sale has fallen through at exchange..

carole
If I was in your position I would be more concerned that the property that you are getting in Spain being fully legal, free of debts etc... I imagine you have a solicitor in Spain for this?
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Old Sep 20th 2008, 6:50 pm
  #35  
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Default Re: current taxes for selling a property in Spain

Originally Posted by Jules Europe
If I was in your position I would be more concerned that the property that you are getting in Spain being fully legal, free of debts etc... I imagine you have a solicitor in Spain for this?
hi there we have been on the boards here for a year now..with a lapse for 6 months lately while we have tried to pack and then unpach due to sales falling through..

we have done research and then more research and then a bit more..

this house is legal..the escurita is being seen by a solicitor acting for us on monday in spain.. I just wondered if anyone had any experience..

carole
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Old Sep 20th 2008, 8:24 pm
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Default Re: current taxes for selling a property in Spain

Originally Posted by madcarole
has anyone experience os houswaps...
if we bought a spanish property for 1euro and they bought ours for £1..
then they wouldnt have any gains??would they...
the lady is in her 70's???any ideas of taxation

carole
yes because they would not have it I suppose,they may but I dont know.just put there value on it for tax purposes like the IVA (VAT)and things.any idias any one
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Old Sep 20th 2008, 8:26 pm
  #37  
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Default Re: current taxes for selling a property in Spain

Originally Posted by betris
yes because they would not have it I suppose,they may but I dont know.just put there value on it for tax purposes like the IVA (VAT)and things.any idias any one
Its something your accountant or solicitor can tell you.
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Old Sep 20th 2008, 8:38 pm
  #38  
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Default Re: current taxes for selling a property in Spain

Originally Posted by betris
yes because they would not have it I suppose,they may but I dont know.just put there value on it for tax purposes like the IVA (VAT)and things.any idias any one
thanks betris..its always the way these questions come up when the solicitor is closed and i cant talk to anyone until monday..the lady is 70 so is very worried about capital gains tax...
when they bought the property it was a shell and her husband and her built it up to what it is now, a 5 bedroom detached property..
so she will have made a chunk of money..
her husband died 3 years ago and she now wants to return to family here in the uk..
i just wondered if the property was worse less then she could save money..
carole
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Old Sep 20th 2008, 8:54 pm
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Default Re: current taxes for selling a property in Spain

Originally Posted by madcarole
thanks betris..its always the way these questions come up when the solicitor is closed and i cant talk to anyone until monday..the lady is 70 so is very worried about capital gains tax...
when they bought the property it was a shell and her husband and her built it up to what it is now, a 5 bedroom detached property..
so she will have made a chunk of money..
her husband died 3 years ago and she now wants to return to family here in the uk..
i just wondered if the property was worse less then she could save money..
carole
some close friend in the uk died and his wife gave me a shell and log book from a siera when they had just came out.it was a insurance loss stolen recovered.and had been stripped to the bone,anyway I got it back on the road and sold it.and then the tax man wanted some money because they said it was a gift even though it was worthless when I got it.they valued it at current market prices,so what im saying be care full and get some sound advise.there must be a way even if its just jugling figuers and paying a bit just to keep every one off the case.
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Old Sep 20th 2008, 9:08 pm
  #40  
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Default Re: current taxes for selling a property in Spain

Originally Posted by madcarole
thanks betris..its always the way these questions come up when the solicitor is closed and i cant talk to anyone until monday..the lady is 70 so is very worried about capital gains tax...
when they bought the property it was a shell and her husband and her built it up to what it is now, a 5 bedroom detached property..
so she will have made a chunk of money..
her husband died 3 years ago and she now wants to return to family here in the uk..
i just wondered if the property was worse less then she could save money..
carole
In theory she may have made a chunk of money but if she is exchanging it for your property she hasn`t but I suppose the tax man will calculate this. Also I have readher their is no CGT after 65 and you say she is 70? also it depends on how much she had paid to get it converted and what its worth in today`s market.

Also has she had this conversion done legally and which part of Spain is it?
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Old Sep 20th 2008, 9:57 pm
  #41  
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Default Re: current taxes for selling a property in Spain

Originally Posted by Jules Europe
In theory she may have made a chunk of money but if she is exchanging it for your property she hasn`t but I suppose the tax man will calculate this. Also I have readher their is no CGT after 65 and you say she is 70? also it depends on how much she had paid to get it converted and what its worth in today`s market.

Also has she had this conversion done legally and which part of Spain is it?
from the paperwork that the agent saw last week and had confirmed by their solicitor it appparently is all legal but i am not stupid..so my own solicitor will be looking next week..the lady is making an appointment with my friend who lives locally to take the details down to my solicitors for checking,..
and before you all shout NO!!! it is in the albox area...but up by the club de tenis..

carole
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Old Sep 21st 2008, 7:36 am
  #42  
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Default Re: current taxes for selling a property in Spain

From my experience, the town hall will not allow a house to be sold for less than a particular amount (that they specify)!

My case; I was buying an old property for reform and the sellers wanted to pay a lot of 'black money'. For example, if it was costing 100k then they wanted 50 in black. At the notary, I was informed that because they bought it for 40k some years ago, by the time they recalculate it's value now (they have special multipliers they use), they said that the minimum price would be 75k and hence only 25K black.

I was surprised by this in a market that is in decline but the notaire and my solicitor were adament
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