View Full Version : Selling a property purchased in 1998 what tax's to pay

06-12-2012, 08:30 AM
This is my parents property. They have, over the years added a large garage/workshop and a swimming pool. I don't think they had them entered on the Escritora (?). They have had an offer of 95k Euros - I believe the purchase price was about 6mill pasetas.
Will the buildings they added be counted in the sale from a total value point of view?
And what CGT would be likely. They are both residents in Spain.
I would be grateful for any info on this as I am not able to be in Spain to assist them, they are elderly and all this is a hassle for them.

06-28-2012, 05:51 PM
Hello Lou,

I recommend you to proceed with the legalization of the garage and swimming pool via a new building deed ( escritura de obra nueva ) and certificate of Lawfulness ( Certificado de antigüedad ) that need to be formalized and registered. Once these are obtained, the property can be sold as it is in full and the attracted CGT will be the 21% of the profit made between the purchase and selling price once the Notary, Land Registry, taxes, lawyer´s fees and real Estate Agent commission have been deducted.

Please feel free to contact me directly by clicking on my profile if you wish to discuss your particular case.