Buying property in Spain
When you are buying a property in Spain it is advisable to appoint an independent specialist lawyer – abogado – who speaks your language. The lawyer will obtain a copy of the Land Registry entry or Escritura – conveyance deed – which will show who owns the property, that the seller is are authorised to sell it […]
Holiday rentals in Andalucia
PLEASE NOTE THE NEW LAW HOLIDAY RENTALS LAW WILL COME INTO FORCE ON 12TH MAY – PLEASE READ OUR ARTICLE AT https://decottalaw.redlinecompany-hosting.com/holiday-rentals-new-law/ FOR THE NEW RULES We are pleased to report that we have held another consultation with the Junta de Andalucia, the regional government, and the information they have provided confirms our interpretation of […]
Reasons to review your wills in 2015
How Modelo 720 affects inheritance tax This is a change in working practice and enforcement of existing law rather than a change in the law. Since December 2012, there has been a requirement on Spanish tax residents to declare all overseas assets to the hacienda (the Spanish tax office), if the value of those assets […]
TAX DEMANDS SENT TO NON RESIDENT PROPERTY OWNERS
The Spanish tax authorities – Hacienda – have begun a new campaign to ensure that non-residents who own property in Spain do pay their taxes. For many years we have been advising property owners of the importance of paying this tax annually. Now the tax authorities are actually sending demands giving an estimated or provisional […]
TAX CAMPAIGN FOR UNDECLARED PROPERTY
The Spanish tax authorities have commenced a campaign to identify properties where the owners are not paying the correct local taxes. The properties they are looking for are those where a luxury 4 bedroomed Villa has been built on land only zoned for toolsheds – casa de apéros or where a water deposit has been […]
An important reminder for non resident property owners
Escaping to a property in southern Spain and the Canary Islands during the long winter months is a real joy for many people. Owning a property and having a second home here has many advantages. Now is the time of year when owners also need to think about their obligations. Some non residents who have […]
Latest news on inheritance tax reclaims
In September 2014, the European court has decided that Spain has been discriminating against non residents by charging inheritance tax where a resident would be exempt from tax. The decision in Commission v Spain Case C-127/12 states that this discrimination is unlawful. At present most inheritance tax allowances in Spain are regional and only apply […]
ENGLISH INTESTACY LAW CHANGES
IMPORTANT CHANGES TO ENGLISH INTESTACY LAWS The law of England and Wales on intestacy, dying without a will, has been changed. The Inheritance and Trustees’ Powers Act of 2014 has substantially changed the law. Previously where a husband, wife or civil partner had not left a will and there were no children the surviving spouse […]
Selling your Spanish property
Selling your Spanish property When you are selling property in Spain it is important to get independent legal advice. There are important obligations on the seller and you should be aware of these. The tax authorities are now much more vigilant and you will not want to be looking over your shoulder once you have […]
The Spanish Economy and Tax Cuts
This last year has seen an alarming rise in the number of young people leaving Spain to seek work abroad. The UK has been one of the most popular destinations with a 50% increase in the number of Spanish people registering for a National Insurance number in 2013. Traditionally the northern Europeans have come to […]
Residencia in Spain – fact, fiction and rumour
One very important aspect of living in Spain which seems to cause a great deal of confusion is the subject of residencia. I have lost count of the number of clients who have been under the impression that the requirement to register as a resident has now been abolished. This is completely untrue. The very […]
Joint Ownership – declaring joint ownership or ending joint ownership in Spain
Bringing joint property ownership to an end and declaring joint ownership This may sound confusing but if you are a joint owner with your spouse, civil partner or with a friend it is important to consider the obligations and tax implications if you sell or inherit half of the property. Equally some married couples or […]