Taxes when Selling Spanish Property
thanks for your prompt reply. the only thing is-when we bought the property-the whole amount was not declared.In other words, so much was black money as was the practice back then so i dont think we will be exempt from capital gains tax??
Taxes when Selling Spanish Property
hi we have just sold one of our 3 properties in spain .we are resident and over 65 will we have to pay any capital gains tax if we dont reinvest within two years?or would we be ok and not have to pay taxs as we have two more properties in spain and all the money to buy them came from the uk with us when we moved here 8 yrs ago when we sold up there
thank you regards nen
Taxes when Selling Spanish Property
Dear Lawbird Lawyer,
My sister died in January 2011. She had been a resident of Spain for at least 25 years and owned and lived in a mortgage free apartment in Fuengirola. My UK sister & I (USA) & over 65 years have inherited the property. What are the tax etc implications if we sell? I would prefer to sell as the property is small, not too near the beach, & may not be condusive to renting in this market.
We are very ignorant of Spanish law. Would you suggest selling or trying to rent? Your opinion and knowledge will be greatly appreciated.
Thank you.
Elizabeth Murphy
edmleo@aol.com
Taxes when Selling Spanish Property
I forgot to mention - my deceased sister made her will in Spain. This has been found and verified by a lawyer in spain.
thank you.
Elizabeth Murphy
Taxes when Selling Spanish Property
Hi,
My Spanish solicitor says he cannot set the costs of the air conditioning, new French doors and the re-tiling of the gardens against the profit I will make when I sell my Spanish property. We have owned the property since 2003.
Is this true, as I read on lots of websites that this is perfectly acceptable?
Thank you,
Taxes when Selling Spanish Property
Hello
I bought villa in Lanzarote in 2000 for 39million pesetas(41 mill but 2 mill black).I want to sell for hopefully 500000 euros.What sort of CGT would I have to pay?I am uk resident
Many thanks