Neptuno

I read on another forum that a poster was asked to go to the tax office with her returns for 2011, plus the 720 submitted for 2012!
Meanwhile all those expats who didn't bother to submit a 720, or even any tax returns at all, smugly reflect on how glad they were not to do what their silly, expat friends did, trying to be legal in Spain.
Anyone one else had a letter from the taxman?

lutonlad

Over the last year or so, I've noticed a trend in your posts.
Seems to be a bitterness that won't go away.

If you really get a kick out of these things - I'd say, GET A LIFE.

Neptuno

What is wrong with asking a perfectly reasonable question?
Have you had a bad day?

lutonlad

Lots of them. Thanks for your concern.

Lospacoshombre

Hi all,
I was hoping to read some answers on this topic, I like Neptuno, am very concerned with the asset declaration form 720.

I was sad to see it has gone another way.

This declaration, has altered my plans quite considerably, and I am very interested to see the "fall out" from declaration/non declaration.

I have consulted several tax experts on the issue and. Everyone has said I would be mad to become tax resident in Spain, mainly because of this new form. So therefore it is a serious and valid question.

I have spoken to many expats with uk assets, who either have not declared them or are prepared to move back to uk to sell them,the come to Spain 6 months later etc.

But as yet I have not heard of any prosecutions/letters/ issues


Regards
Al

lutonlad

Absolutely correct. It is an important issue and people need to get the best help and advice.

What isn't needed is scaremongering and judgmental comments.

Hope it works out for you.

chopera

I heard of a case where someone in Spain declared that they had sold a UK property on the 720 and Hacienda had used that to charge them CGT on the sale.

Of course the tax itself should have been paid anyway, but it's interesting Hacienda used the 720 declaration as a basis for going after them.

However the point to remember is the 720 is not a tax, it is a way of forcing people to declare assets. And some people would simply prefer to not to do that - possibly because they want to evade tax, but also possibly because they fear they'll become easy targets for future taxes, or get dragged into a tax system that appears overly complex and contradictory, and which they don't fully understand, so they are unable to be tax efficient.

guirijohn

Not sure how they they could take the 720 declaration to the tax office, it had to be submitted online.

chopera

The online system generates a PDF file with all the information you entered

Fred James

Of course, it could be that they have lost it!

Last year I had a letter from AEAT asking me to send them a copy of my tax return as they had lost it! They had managed to take the money though!

Joking aside, it is possible that they have started to do random checks or possibly there is something in the declaration that doesn't stand up to scrutiny.

I am sure we will hear what the outcome was.

lutonlad

A sensible and balanced view from Fred as usual.
Tax matters can be difficult to grasp, and very worrying for many people.

Neptuno

Or as is more likely, they wanted to see if what was mentioned on the 720 matched what was declared on 2011 return!
Yes tax matters are worrying, that 's why we put our trust in accountants!

Fred James

Why would they want to see you to do that? They have all the information available to them without the need for you to visit them.

As for trusting accountants, I suggest you read the relevant thread on the other forum that you mentioned where it seems many of them cannot even agree on the exchange rate they should use to convert your UK income into Euros!

Personally I would either do it myself (which I have been doing for 14 years) or visit the tax office and get them to do it correctly and for no charge.

Neptuno

Fred- I don't know why their physical presence is required either! Perhaps they have to sit in a Mastermind type chair and be grilled under a bright light! If as you say they may have lost it, won't there be a copy on the tax office computer? Or send it by Correos?
Most will not have your know -how or confidence to do it themselves, and may find going to the tax office intimidating, or their Spanish might not be adequate.
Even the tax office can get things wrong!