View Full Version : CGT non resident confused

10-09-2010, 01:29 AM
Have spent days trying work out what CG liability i may have ,i m a non resident and bought property in 2002 (it was my only property)lived there until 2005, i am in the process of selling the property... for 55,000E having purchased it for 35,000E,i realise 3% will be retained at the signing ,do i pay a gestor to complete my final tax report in Spain? do i need an accountant in the uk also, any advice would be greatly appreciated

10-10-2010, 03:47 PM
Hello Jodicam

I've done a quick approximate calculation of what your CGT liability would be with the information you have provided, and have made assumptions on the information you don't provide. These are the results:

Date of Purchase 01/01/2002
Date of Sale 01/01/2005
Purchase Price 35,000.00 €
Purchase Costs 2,950.00 €
Selling Price 55,000.00 €

Updated Purchase Price 45,251.58 €
Coefficient. 1.1601
Capital Gains 9,748.42 €
Days Between Sale and Purchase 1097
Days Between Sale and 19/01/2006 384
Capital Gains Subject to Reduction 3,412.39 €
Number of years for the calculation of the reduction 0
Reduction resulting of applying the inflation coefficients 0.00 €
Reduced Capital Gains 9,748.42 €
Capital Gains Tax Rate 18%
Capital Gains Tax 1,754.72 €

This is for €500 purchase and sale costs (notary, registry, lawyer), and for the completion dates 01/01/2002 and 01/01/2005 (purchase and sale).

Assuming these values are correct, after deducting the 3% withheld (€1,650) you will still owe the taxman €104.72. This is paid and filed through form 212 (http://www.agenciatributaria.es/AEAT/Contenidos_Comunes/La_Agencia_Tributaria/Modelos_y_formularios/Declaraciones/Modelos_200_al_299/212/Instrucciones/instr_mod212.pdf). If you are using a lawyer for the conveyance, he/she should do this for you. If not, you can do it yourself or hire someone to do it. Failure to submit this form can earn you fines and surcharges.


02-08-2011, 12:59 AM
Hi I am very intersted in this as we are a couple aged 62 & 63, we bought our apartment in 2005 for 75,000 and we are looking at selling it now for 135,000 , the exchange rate on purchase was 1.00 = 1.46 and the rate is now arounf 1.18. We are not tax resident in Spain although we are on the Padron and pay all taxes due. WE also paid the purchase tax and solicitors bills of 1100.

Our questions are

Can we add inflation to the property price?
Will the difference in exchange rates make a difference
Will we still have to pay full CGT at our age
What would be the amount due
Would it be best to live in the apartment and become tax residents until are 65

Thank you for any advise you can give us