I understand that I have to pay a Non residents rental tax.
Even though I am nowhere near to paying the wealth tax do I still have to
Submit a wealth tax form as an owner.
Many thanks in advance.
As far as I understand it the Wealth Tax was abolished and now it is the Non Renta Tax only.
Wealth tax reintroduced sept 2011
Tax free allowance €700, 000.
That's sneaky of them. So, looks like you'll be paying both taxes then!! :D
I'm about €600,000 short for the wealth tax.
They should introduce a poor tax.. I might qualify.
I don't think that wealth tax was actually abolished but set at zero percent. It has since had a positive rate set for the 700,000 + level.
Any idea of an up to date site ,regarding tax in spain,as I understand I will have to pay tax in spain on my UK accounts interest,not in the UK
This may help
http://www.hmrc.gov.uk/international/dta-intro.htm (http://www.hmrc.gov.uk/international/dta-intro.htm)
Surely doesn't wealth tax only apply to people tax resident (live here 183 days per year)? So not to non-residents? This is a question, not an answer.
I recently saw that a tax return of assets held outside Spain has to be filed. Again I assume by tax residents only.
Most countries have ageements with most other countries to follow a standardised approach to international tax.
The normal convention is that a country will charge its tax residents (people resident for 183 days a year) on income and assets worldwide (subject to an allowance for taxes paid outside their country) but will only charge non-residents tax on income arising (or deemed to arise!) in that country.
It would fly in the face of standardisation if a UK tax-resident Brit with a property in Spain had to pay Spanish tax on assets held (and taxable) in the UK or elsewhere other than Spain.