PurplePanama

Hello all, i'd appreciate any insight members can give to a forum newbie and UK resident with an apartment in Spain on property taxation rules concerning Furnished Holiday Lets (FHL)

In the UK, the HMRC accept the principal of Capital Allowances . Does such a concept exist in Spain either as part of quarterly returns or at the time of property sale? I am thinking specifically of fixtures resident at the time of property purchase which are effectively deductible against earnings in the UK.

Many thanks in advance

spainrico

Maybe this helps:

https://www.pellicerheredia.com/en/h...d-its-taxation

PurplePanama

Loafing Along

I believe you are entitled to claim 3% capital depreciation on the value of the property , not the contents ,but only during the time the property is rented . Allowances very similar to normal long term letting - Community Fees, mortgage interest, local taxes ( IBI & Basura ) , property insurance . Also agency fees.
When not rented out allowances change as the property is classified as a second home.

All this assuming the property is correctly registered as a holiday let.