[diatonicbreks]

hi everyone,

me and my partner are buying a property in barcelona but we will be living in the uk for approx another 2 years . we will not be renting the property out and i was wondering which taxes we would be elligable to pay, i have read that the wealth tax is now abolished . any advice would be much apreciated .

 

[decgraham]

hi everyone,



me and my partner are buying a property in barcelona but we will be living in the uk for approx another 2 years . we will not be renting the property out and i was wondering which taxes we would be elligable to pay, i have read that the wealth tax is now abolished . any advice would be much apreciated .

My partner and I have had a property for the last 2 years and we too do not intend to live in it permanently for another couple of years.

To buy I'm sure you know you will need to get NIE's. The tax comes in the following year and ours for 2008, paid August 2009 was built up as follows:

1. Wealth Tax Abolished as you say

2. Notional Income tax (personal use)
(24% of 2%/1.1% of Fiscal Value*)

3. If you use an account their fees + IVA on those fees at 16% (we pay Euros 110 plus Euros 17.60 in IVA. Total Euros 127.60 per year for both of us, property is in joint names)

*Fiscal Value: This means the purchase price of your property, rateable value - or where applicable an estimated rateable value

4. You will also be required to pay Local Tax (IBI) and Rates (Basura) not sure what these will be. We live on a community and this is included in our annual charge but this is usually not very high.

The firm we used to finalise the purchase of our property had a financial section and as we were very happy the way they handled the purchase we were happy to have them handle our tax affairs. I would recommend using a professional, makes life a lot easier. Good luck

 

[Stravinsky]

Are your finances quite complicated then? We only pay €50 a year for full tax returns in Gandia

The firm we used to finalise the purchase of our property had a financial section and as we were very happy the way they handled the purchase we were happy to have them handle our tax affairs. I would recommend using a professional, makes life a lot easier. Good luck

 

[decgraham]

Are your finances quite complicated then? We only pay €50 a year for full tax returns in Gandia

I think I have a case of ignorance is bliss, we thought the cost was reasonable, and in fact we got it reduced for the last tax period. Our taxes are not complicated at all, we just have the apartment nothing else, and as we still live in Kuwait we enjoy a tax free status. Perhaps you could PM me the details of your guy and I’ll have a chat with him next time we’re in Spain, every bit of saving is worth it. Thanks for the enlightenment.

 

[diatonicbreks]

My partner and I have had a property for the last 2 years and we too do not intend to live in it permanently for another couple of years.

To buy I'm sure you know you will need to get NIE's. The tax comes in the following year and ours for 2008, paid August 2009 was built up as follows:

1. Wealth Tax Abolished as you say

2. Notional Income tax (personal use)
(24% of 2%/1.1% of Fiscal Value*)

3. If you use an account their fees + IVA on those fees at 16% (we pay Euros 110 plus Euros 17.60 in IVA. Total Euros 127.60 per year for both of us, property is in joint names)

*Fiscal Value: This means the purchase price of your property, rateable value - or where applicable an estimated rateable value

4. You will also be required to pay Local Tax (IBI) and Rates (Basura) not sure what these will be. We live on a community and this is included in our annual charge but this is usually not very high.

The firm we used to finalise the purchase of our property had a financial section and as we were very happy the way they handled the purchase we were happy to have them handle our tax affairs. I would recommend using a professional, makes life a lot easier. Good luck

Hi guys and thanks so much for youre replys. one thing i did not point out is that my partner is from barcelona but has just been working over here for a few years but does that mean i will still need to get this nie ?

 

[diatonicbreks]

my partenr just came home and told me what an NIE is so im sure this wont be a problem !!! sorry wasnt sure what it was !

 

[Stravinsky]

I think I have a case of ignorance is bliss, we thought the cost was reasonable, and in fact we got it reduced for the last tax period. Our taxes are not complicated at all, we just have the apartment nothing else, and as we still live in Kuwait we enjoy a tax free status. Perhaps you could PM me the details of your guy and I’ll have a chat with him next time we’re in Spain, every bit of saving is worth it. Thanks for the enlightenment.

No probs.
Ive recommended him to a few couples and they have all been very happy with him.

Pablo Faus Banules, Gandia ... 962 954 756 / 630 771 987
He speaks english perfectly. Office is near the fountain on the main paseo, I think its Av Rep de Argentina

 

[NotinUse]

Thats useful info Stravinsky thanks for that