View Full Version : Complicated CGT calculation

10-16-2010, 01:48 PM
Hi - my husband and I purchased a Cigarral in Toledo in 2000 in both our names. Purchase price was €320,000

At the time, we were non resident but later I took out residence. We both had NIE's at the time of purchase because we had been residing in Barcelona a few years earlier. I am empadronada in Toledo and we pay mortgage through a non resident account. this has not been changed because my husband is still effectively afiscal non resident.

We now are in process of selling the house and need to clarify best way forward in terms of tax exemprions and other ancialliary costs. We will need conveyancing assistance. Asking price for the house is €900,000 although I don´t believe we´ll receive offers better than 7-800,000. We will be purchasing a new property as cash buyers as we are downsizing.

My husband turned 65 this year and although he is still working on contracts abroad we need to know if he should become fiscally resident in Spain. At present he is fiscally resident in Holland. We are both british nationals although I have Spanish parents and could take out Spanish nationality. Again, I need to know if this would be benefitial or not.

Under these circumstances, would we be liable or exempt from CGT? Would it be advantageous to trasnfer the property to my name? What other recommendations would you give us?

I have written to you separately with a view to you representing us in the conveyancing work involved.

Many thanks