Although there are accountants, lawyers and gestors in Spain, and a number of overseas specialist tax consultancies in London, there is no other UK based company providing a specialist tax service for non-residents with properties in Spain.
The Spanish tax system is based on self assessment, which means that you are required to:
* Obtain the right tax form
* Calculate the tax due
* Complete the form
* Submit to the Spanish tax office
* Pay the tax!
Many non-resident property owners remain completely ignorant of their tax obligations – until they come to dispose of the property. This then prompts the authorities into action, which can lead to some nasty surprises!
Tax is payable on the death of an individual
Taxable amount: the value of the beneficiary’s inheritance
Tax rate: varies between 7.65% and potentially 81%
Tax allowances: approximately €16k or €8k allowance for certain family members
If you would like a Free Spanish Tax Guide and to receive details of how Numerological can help you meet your Spanish Tax obligations, just click on the link below:
The Numerlogical service is designed for those non-residents that have bought a Spanish property, and focuses on those taxes that become applicable after you have been through the buying process.