cgt and income tax in spain and uk

[susanright]

sorry, forgot to add, I have been trying to sell the property without luck due to recession, also, what rate of income tax would i be liable to pay if i purchased the house for 550.000euros, ? thanks

[Lawbird Lawyer]

Dear Madam,

I refer you to this thread on the taxes to be paid on owning property in Spain:

My mother is becoming a Spanish resident. What taxes is she liable for?
Kelly

Income tax is not related to the price of the property you are buying. Perhaps you are confusing it with imputed income tax which is something different and it's just a legal fiction on which the Spanish taxman presumes you are making money out of your Spanish property.

This imputed income tax must be filled in and paid each year, yes.

Yours faithfully,