Go Back  British Expats > Living & Moving Abroad > Europe > Spain
Reload this Page >

Modelo 720 bank account closure query...

Modelo 720 bank account closure query...

Old Jan 17th 2018, 9:54 am
  #1  
BE Enthusiast
Thread Starter
 
rafikiphoto's Avatar
 
Joined: Jan 2007
Location: Seville
Posts: 575
rafikiphoto is just really nicerafikiphoto is just really nicerafikiphoto is just really nicerafikiphoto is just really nicerafikiphoto is just really nicerafikiphoto is just really nicerafikiphoto is just really nicerafikiphoto is just really nicerafikiphoto is just really nice
Default Modelo 720 bank account closure query...

I reduced a bank account balance to zero in June 2017 transferring the money to another of my accounts. The account remained at zero until I asked the bank to close it in December. For 720 purposes do they consider 'balance at closure' to be the amount I transferred out in June or should I just declare the zero balance at the actual closure date?
rafikiphoto is offline  
Old Jan 17th 2018, 12:43 pm
  #2  
Retired and loving it!
 
snikpoh's Avatar
 
Joined: Sep 2007
Location: Ontinyent - Valencia region (campo)
Posts: 5,165
snikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond reputesnikpoh has a reputation beyond repute
Default Re: Modelo 720 bank account closure query...

I don't know the correct answer, but I would just do a new declaration.

When doing an 'update' is there anywhere on the form to say what happened to old accounts?
snikpoh is offline  
Old Jan 18th 2018, 8:13 am
  #3  
BE Enthusiast
Thread Starter
 
rafikiphoto's Avatar
 
Joined: Jan 2007
Location: Seville
Posts: 575
rafikiphoto is just really nicerafikiphoto is just really nicerafikiphoto is just really nicerafikiphoto is just really nicerafikiphoto is just really nicerafikiphoto is just really nicerafikiphoto is just really nicerafikiphoto is just really nicerafikiphoto is just really nice
Default Re: Modelo 720 bank account closure query...

Has anyone any experience of this?
rafikiphoto is offline  
Old Jan 19th 2018, 4:14 pm
  #4  
 
Fred James's Avatar
 
Joined: Jun 2006
Location: Granada Costa
Posts: 10,920
Fred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond reputeFred James has a reputation beyond repute
Default Re: Modelo 720 bank account closure query...

You declare the value of the assets that you are holding on December 31st. My interpretation of that is that if you had it previously and disposed of it before 31st then you don’t declare it.
Fred James is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.