Hi Everyone
Posted: 22 September 2014 05:51 PM  
Tourist
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Total Posts:  1
Joined  2014-09-22

Hello everyone thank you for letting me join your great site. We are hoping to buy a place in Spain in the next 6 months and hope you won’t mind me asking for loads of advise as we are true noobies 🐛
we have been coming over for the last five years in the winter months but we were on campsites in our motorhome now we have decided we would like to reverse things and buy somewhere in Spain but come back to the UK in the summer to spend time with our family 😊
So any advise on medical insurance or what property taxes we will need to pay, do we have to register in Spain even though we will not be living there permanently etc would really appreciated.

I have looked at some of the listings but especially the tax part totally baffles me.  😖

Thanks in advance for any help

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Posted: 22 June 2015 09:09 AM   [ # 1 ]  
Tourist
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Total Posts:  1
Joined  2015-06-22

Yes you should pay tax on your rental income and declare this in Spain. Owners of property in Spain will then declare both income and tax already paid on the tax return in their country of residency but if you?re in a country with a dual taxation treaty, tax will not be payable. Unlike some countries in Spain it is not possible to offset fully interest payments on a mortgage against rental income unless the property is set up in a company and operate as a commercial entity. Private owners will be able to offset interest payments on a mortgage and other costs for the proportion of the year the property has been allowed on a pro rata basis, only if the tax office accepts it?s qualified for the percentage of time you?re claiming for.

http://www.yazooproperty.com/property-in-spain.html

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