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Thread: Will I be liable for CGT on the sale of my Spanish apartment?

  1. #1
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    Mar 2013
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    Default Will I be liable for CGT on the sale of my Spanish apartment?

    I am selling my holiday apartment in Spain and will make a small profit of around 30,000 euros before taxes. I understand my spanish tax position and all relevant taxes will be paid in Spain by my spanish solicitors. However, my question is, as a UK resident and UK homeowner will I have to pay capital gains tax on the money transferred from this sale to my UK bank account? I understand the UK banks have to advise the taxman when amounts of over 10,000 euros are deposited - is this correct?

  2. #2

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    Hello Riomar41,

    The CGT is certainly paid in Spain. If you are asked by the Tax authorities in the UK which is the source of those funds, you will have to let them know you sold a house in Spain and if they require you to prove the CGT paid, you can show them the payment receipt of the CGT in Spain.

    Regards,
    Patricia Martin
    Immigration Consultant at Lawbird | Contact Me
    Check My Profile

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