cgt and income tax in spain and uk

[susanright]

hello, I own a property in spain and have a couple of questions.
This was my main resident whilst living in spain I returned to uk in 2008 and now own a uk property, my questions are:

I did not realise I was liable to pay taxes in spain for owning a property there, what should I do, my last tax return in spain was for 2007.
secondly, should I be filling in these tax returns every year in spain or is it ok to just do this in the uk?

and finally, if i sell the spanish property which I lived in for a year before moving back to uk. where do i pay CGT, if i pay in spain, do I lose my right to the "private letting relief in uk? I am really confused, any help is very welcome, kind regards, susan

[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,