Spanish Resident with UK Property
Dec 22nd 2019, 1:41 pm
#1
Just Joined
Thread Starter
Joined: Dec 2019
Posts: 1
Spanish Resident with UK Property
Hi All
Next year 2020 I will be presenting my first tax return in Spain as a resident.
I own my own home in Spain and I am here full time. I have a UK property which I rent out.
My question is how does this work in terms of where that income is declared.
I know that I complete a self assessment with HMRC and I am a registered non resident landlord. I will NOT use up my tax free allowance as the rental income will be much less than the UK tax free allowance. So therefore there will be no tax to pay in the UK does that mean none to pay in Spain also? I work in Spain so will be completing a return anyways.
Just wondered if anyone here is similar or has any experience with this?
I will get a financial professional when the time comes just want a little heads up or some advice.
Thanks guys.
Next year 2020 I will be presenting my first tax return in Spain as a resident.
I own my own home in Spain and I am here full time. I have a UK property which I rent out.
My question is how does this work in terms of where that income is declared.
I know that I complete a self assessment with HMRC and I am a registered non resident landlord. I will NOT use up my tax free allowance as the rental income will be much less than the UK tax free allowance. So therefore there will be no tax to pay in the UK does that mean none to pay in Spain also? I work in Spain so will be completing a return anyways.
Just wondered if anyone here is similar or has any experience with this?
I will get a financial professional when the time comes just want a little heads up or some advice.
Thanks guys.
Dec 22nd 2019, 3:13 pm
#2
Joined: Jun 2006
Location: Granada Costa
Posts: 10,899
Re: Spanish Resident with UK Property
You will have to add the UK rental income to your other income and it will be taxed in Spain. If you are letting it long term as opposed to a holiday let, the allowances are very generous as you only pay tax on 40% of the income and you can claim all the normal allowances including mortgage interest if appropriate.
Dec 27th 2019, 11:06 am
#3
Forum Regular
Joined: Oct 2019
Location: Aussie nomad with no fixed abode
Posts: 236
Re: Spanish Resident with UK Property
You will have to add the UK rental income to your other income and it will be taxed in Spain. If you are letting it long term as opposed to a holiday let, the allowances are very generous as you only pay tax on 40% of the income and you can claim all the normal allowances including mortgage interest if appropriate.
Last edited by m2m2012; Dec 27th 2019 at 11:33 am.
