Chica

We sold a property in the Costa de la luz area in June 2006 and as non-residents paid 35% CGT as opposed to the residents 15%. We now understand, due to a court ruling, we can claim the difference. We have been quoted a fee on a "no win, no fee" basis of 35% of monies claimed back. We think this is expensive; is anyone else going through or been through this process that knows of anyone else offering a better deal.
Thanks.

Mitzyboy

Why dont you just get a Gestor to do it for you ... a lot less I would think.
There was a time limit on these claims iirc, and I heard about this quite some time ago, so are you sure its still open?

SueG

As Mitzy said a Gestor can do the necessary - one of our clients has just applied for their refund - at a cost I think of about €400 but reclaimed thousands

Hillybilly

Don't forget to take into account that any refund you do get will then be subject to any difference in the CGT rates that existed between the Uk and Spain back then so you may just end up handing it over to the IR

Fred James

I seem to remember it was 40% in the UK at that time.

Isn't it strange that the "no win no fee" lawyers forget to point that out

jdr

I remember the thread on that. ;-))

The Olive Farmer

surely if you have paid the tax in one eu country then you are not liable to pay it in another ......one market & all that

jdr

You get it refunded by the Spanish, but fall into the UK tax system at a higher rate. ;-))

Mitzyboy

Well yes. If you are for instance a resident in Spain and choose to ignore the authorities here and pay your tax in the UK .... then the Spanish can ask you for the difference between what you paid in the UK and what the rate is here, if they catch you.

Fred James

Since the whole of the tax should have been paid in Spain in the first place, they can fine you a percentage of the full amount for not declaring it and also add late payment charges.