Wealth Tax
Sep 4th 2007, 12:35 pm
#1
Guest
Posts: n/a
Wealth Tax
Anyone know how easy this is to sort out yourself??? Probably already been covered a few times but can't find any threads at this moment in time. Thanks for any help!
Sep 7th 2007, 9:14 am
#2
Senior Moment
Joined: Jan 2006
Location: On the edge
Posts: 20,460
Re: Wealth Tax
what do you mean, sort out by yourself?
I believe its declared at the same time as your tax return if you are a resident, but unless you are fairly well off it shouldn't effect you too much
I believe its declared at the same time as your tax return if you are a resident, but unless you are fairly well off it shouldn't effect you too much
Sep 7th 2007, 4:31 pm
#5
Fed up in England!!
Joined: Apr 2007
Location: kent
Posts: 1,041
Re: Wealth Tax
oooh luxury!!
Sep 7th 2007, 8:09 pm
#6
BE Enthusiast
Joined: Aug 2007
Location: Los Martinez
Posts: 858
Re: Wealth Tax
Well I'm still trying to get my head around this whole wealth/income tax thing, just when you think you have it figured it all goes pear shaped!
Our solicitor said they would handle it, over to you boys! anyway what was explained is blah blah blah, offset mortgage blah blah blah. Money you owe will come out of your bank account in August. So here we are in September and money is still sat in bank account!
If someone could explain in laymans terms what happens with these taxes and when they are paid, we are non-resident and this is our first time paying these, then you would be a Godsend
Our solicitor said they would handle it, over to you boys! anyway what was explained is blah blah blah, offset mortgage blah blah blah. Money you owe will come out of your bank account in August. So here we are in September and money is still sat in bank account!
If someone could explain in laymans terms what happens with these taxes and when they are paid, we are non-resident and this is our first time paying these, then you would be a Godsend
Sep 7th 2007, 8:14 pm
#7
Senior Moment
Joined: Jan 2006
Location: On the edge
Posts: 20,460
Re: Wealth Tax
Well I'm still trying to get my head around this whole wealth/income tax thing, just when you think you have it figured it all goes pear shaped!
Our solicitor said they would handle it, over to you boys! anyway what was explained is blah blah blah, offset mortgage blah blah blah. Money you owe will come out of your bank account in August. So here we are in September and money is still sat in bank account!
If someone could explain in laymans terms what happens with these taxes and when they are paid, we are non-resident and this is our first time paying these, then you would be a Godsend
Our solicitor said they would handle it, over to you boys! anyway what was explained is blah blah blah, offset mortgage blah blah blah. Money you owe will come out of your bank account in August. So here we are in September and money is still sat in bank account!
If someone could explain in laymans terms what happens with these taxes and when they are paid, we are non-resident and this is our first time paying these, then you would be a Godsend
Sep 7th 2007, 8:27 pm
#8
BE Forum Addict
Joined: Jan 2006
Location: midlands/denia
Posts: 4,340
Re: Wealth Tax
Well I'm still trying to get my head around this whole wealth/income tax thing, just when you think you have it figured it all goes pear shaped!
Our solicitor said they would handle it, over to you boys! anyway what was explained is blah blah blah, offset mortgage blah blah blah. Money you owe will come out of your bank account in August. So here we are in September and money is still sat in bank account!
If someone could explain in laymans terms what happens with these taxes and when they are paid, we are non-resident and this is our first time paying these, then you would be a Godsend
Our solicitor said they would handle it, over to you boys! anyway what was explained is blah blah blah, offset mortgage blah blah blah. Money you owe will come out of your bank account in August. So here we are in September and money is still sat in bank account!
If someone could explain in laymans terms what happens with these taxes and when they are paid, we are non-resident and this is our first time paying these, then you would be a Godsend
If you are a non resident, then you have til the end of December to get it paid before you acrrue interest. The wealth tax is calculated on the value of your property (your property is your wealth - having a Spanish mortgage may affect the calculation although I'm not sure on that). The income tax is calculated on your rental income - there is a standard calculation and percentage charged even if you do not rent out and earn an income on your property.
If still confused, try a PM to Beachcomber as he is the expert on this.
Sep 8th 2007, 8:40 am
#9
Just Joined
Joined: Jul 2007
Location: Carcaixent Valencia Near Alzira
Posts: 28
Re: Wealth Tax
Hi I have been in Spain for 3 years now and it took me 2 years to sort out wealth Tax, this year is the first year that we have paid wealth Tax. From now on it will be DD from my bank which you can set up once you have paid once. I went to the local Ajuntament and we now pay rustic land charge in or about december and wealth Tax in April/May they tend to allocate times when your area pays. Some Ajuntament use SUMA to collect. Hope this helps
Sep 8th 2007, 7:59 pm
#10
Democracy advocate
Joined: Mar 2006
Posts: 12,460
Re: Wealth Tax
Hi I have been in Spain for 3 years now and it took me 2 years to sort out wealth Tax, this year is the first year that we have paid wealth Tax. From now on it will be DD from my bank which you can set up once you have paid once. I went to the local Ajuntament and we now pay rustic land charge in or about december and wealth Tax in April/May they tend to allocate times when your area pays. Some Ajuntament use SUMA to collect. Hope this helps
Sep 8th 2007, 10:56 pm
#11
Just Joined
Joined: Jul 2007
Location: Carcaixent Valencia Near Alzira
Posts: 28
Re: Wealth Tax
Sep 9th 2007, 5:40 pm
#12
Senior Moment
Joined: Jan 2006
Location: On the edge
Posts: 20,460
Re: Wealth Tax
Of course, you have to make a return. Imho the best thing to do is employ a gestoria who will do it all for you. Hes submitting my tax return / wealth tax for 60 euros. Well worth it for not having the hassle
Sep 9th 2007, 11:51 pm
#13
Democracy advocate
Joined: Mar 2006
Posts: 12,460
Re: Wealth Tax
It is a tax but not as we know it after all if you ask spanish what is council tax they would say what. Try this kink http://www.spainbusiness.com/icex/cd...4412_0,00.html You can also go to threads on the first page and click on "Read me FreeBeer there is a lot of information links there
