Should I gift my Spanish property to my children during my lifetime?
If you gift Spanish property to your children, there are various things that one needs to think about. As non tax resident of Spain , regardless of whether you sell or gift your property, you will need to account for 19% Spanish Capital Gains tax (known in Spain as IIP). A capital gain is calculated by […]
Spanish Property Market
International experts agree that the Property market continues to attract buyers from many countries. Many buyers in Andalucia are continuing to take advantage of the reductions in taxes that took place some years ago and have continued into 2025. In Andalucia the principal property tax transmission tax – ITP – on resales is currently 7%. […]
Canary Islands Inheritance and Gift tax update
Last week the Canary Islands Government has modified the inheritance and gift tax allowances that are applicable in the Canary Islands: a 99.9% inheritance tax allowance is now generally applicable to Group II (children and adopted children of 21 years or more, spouses, parents) and Group III (brothers/sisters, uncles/aunts, nephews/nieces, etc.), and a 99.9% gift […]
Spanish tax notifications
The actions of Spain´s Tax Authority (the “Agencia Tributaria” in Spanish, and referred to as “AT” from this point) in recent years suggests an increased focus on fighting tax havens, searching for hidden assets and controlling international taxation. One of the common measures the AT has adopted is that of sending warning letters to individuals […]
I am a British resident and I own Spanish property. Should I gift it to my children during my lifetime?
If you gift Spanish property to your children then there are various things that one needs to think about. What tax you will pay tends to be at the top of one´s list. As a Spanish non tax resident, regardless of whether you sell or gift your property, you will need to account for 19% Spanish […]
Spanish taxation
Whether you live in Spain full time or part time you may be liable to pay tax in Spain. The primary test for Spanish tax residency is spending 183 days or more living in Spain per calendar year. Even if you don´t spend 183 days in Spain but you own property you need to make […]
Major changes to Spanish Town Hall taxes on sales and inheritance – plus valia
Making the property market even more interesting in Spain is a major change to the local taxes normally payable by vendors or inheritors of property – the plus valia – or local capital gains improvement tax. The varying rates charged by different municipalities, particularly when there could be a very large variation between two neighbouring […]
Taxation in Spain for Residents and Non resident property owners
Whether you are tax resident in Spain or own a holiday home here and live in another country the different tax system in Spain can seem very daunting. Every country has particular rules and obligations and by ensuring your affairs are dealt with by professional advisers you can ensure that tax bills you receive are […]
Residency for British Citizens – The Foreign Identity card – TIE
A new residence document was introduced last year for British Citizens in accordance with the terms of the Withdrawal Agreement between Britain and Spain. An application can now be made for those who were residing in Spain prior to 31st December 2020. Your citizen’s rights under EU law will be maintained, this includes the right […]
Take advantage of the transition – becoming tax resident in Spain
We are often asked by British citizens coming to Spain to buy property – Where do I pay my tax? The double taxation relief treaty between Spain and the UK is not an EU agreement and at least initially, will not be affected by Brexit. Certainly if you make the change prior to the end […]
Inheritance, Wills and Taxes – Post Brexit Deal
This is an area that will remain unchanged post Brexit. The law that will govern succession and who will receive your assets on death will not change. The application of your law of nationality has been recognized and formalized in the EC regulation signed by Spain in 2015. The UK never signed this regulation but […]
Becoming a Spanish resident – where do I pay my tax
The Double taxation relief treaty between Spain and the UK is not an EU agreement and at least initially, will not be affected by Brexit. It may be revisited in future years once the dust has settled on any deal or no-deal. Under its terms a British national who spends more than 183 days resident […]