property tax
#1
Forum Regular
Thread Starter
Joined: Jan 2009
Posts: 41
property tax
does anyone know what tax there is to pay on a property I sell?,before I can take the money to the uk,
#3
Forum Regular
Thread Starter
Joined: Jan 2009
Posts: 41
Re: property tax
owned the property 3 years,not used it much, was looking to sell it,in Benalmadena,currently rented out,bit unsure whether to sit on it,(bought it for my old age etc,)or get rid and retire in Eastbourne....would there be any sales tax?,
#4
Re: property tax
When you go to the notary they will withhold, iirc 3% of the property value. I think CGT is 18% of the gain .... if the 18% is less than the three percent then you get refunded eventually. Fred usually knows all the details, I'm sure he will comment accurately.
Of course you will also have to pay agentsb fees, notary etc
You picked a tough time to sell.
Forgot to ask, are you over retirement age?
#6
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Thread Starter
Joined: Jan 2009
Posts: 41
Re: property tax
Plus valia?,dare I ask what percentage is that?....cgt ?is that 18% on the profit?as in if I paid 250 and sold for 350 I would pay 18% of 100k?
#7
Re: property tax
Plus valia is a municipal tax that varies from town to town so the only way to find out is to ask at the town hall.