Can anyone tell me the current rates please as I've found several different ones quoted? This is for the Alicante province of Valencia if that makes a difference.

We are considering buying a house from Spaniards who have owned the property for 20 plus years. We have been given a figure by their Spanish estate agent of the amount they originally paid and the amount they want to walk away with. Whether either figure is accurate we can't tell but with an idea of how much CGT they might have to pay we are better placed as to where to start with an offer.

Up to €6,000 21%
€6,000 to €24,000 25%
Over €24,000 27%

Thanks Fred

Am I correct in thinking that the 11.1% reduction for length of ownership is still the current rate?

No, they scrapped that years ago. It only applies for the years before 1994. So if it's 20 years old they will get 11.1% for only one year. After that not a lot.

Send me a PM with the exact figures and I will work it out for you.

Assuming they are residents if the house is their main residence and they are going to reinvest in another main home they can roll over the proceeds and pay no tax. If they are over 65 they pay no tax.

Thanks Fred, I'll get a more exact purchase date date from the agent tomorrow and will PM you the details.

Unfortunately the owners don't look to be over 65 and the house is their holiday home. They need to sell this property and won't be buying anything else.

OK so it looks like they will take a big hit on CGT. Shame you could end up paying it for them.

I await your PM.