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Thread: Capital gains tax roll over/ uk?

  1. #1
    Junior Member
    Join Date
    Apr 2012

    Default Capital gains tax roll over/ uk?

    May i ask a question about "roll over"
    When an English resident in Spain sells his home in Spain can he roll over the profits to a home in the UK within a few weeks therefore not pay CGT in Spain ?. He will be living and working as a resident in the UK for 4 TO 5 years then will sell in the UK and move back to Spain to work and buy a home in Spain again , so the money will come back to Spain . ( there is no cgt on a sole property in England so no problem going back to Spain afterward)
    Is there any specific paperwork that needs to be done before leaving Spain apart from the IRPF so that he can return to Spain without issue
    Thank you

  2. #2


    Dear Spanielkiss,

    When you submit your Income Tax Return (IRPF) you will have to declare that you sold a property and that your capital gains was X, but that you wish to reinvest the proceeds of the sale on another property within two years. There is an option on the income tax form (Modelo 100) for this purpose. Within two years, as soon as you buy a property in the UK, you will have to notify the Spanish Taxman in writing, with details of the transaction confirming that you are eligible for this exemption.

    Please note that this option will automatically put you on the Tax Office’s radar, so make sure you comply with this requirement if you want to be on the safe side and avoid future problems with the Spanish Taxman. If you are unsure whether you will be buying a property within two years, I recommend that you talk to your Spanish tax advisor for further advice on how to mitigate your Capital Gains Tax.

    I would like to take the opportunity to offer you our Conveyancing for Property Sale service, which includes the proper fiscal representation which will ensure you are fully represented before the tax office and your CGT liability is minimized.

    If you wish to contact me personally, you can find my contact details below (in my signature).

    Last edited by Patricia; 04-20-2012 at 02:43 PM.
    Patricia Martin
    Legal Assistant at Lawbird
    Check My Profile

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