- December 5, 2008 at 8:57 pm #54547
I bought a property in Spain in 2007 and I have just received a letter from the Solicitor who dealt with our purchase. The letter tells me that I owe tax which is a wealth and property tax. Does anybody know anything about this? I am led to believe that the wealth tax is no longer payable from 2008.
- December 5, 2008 at 9:03 pm #88414
You don’t say if you are resident or non-resident but there is info here that should answer your q’s
- December 5, 2008 at 9:14 pm #88415
I’m non resident.
Many thanks this has answered my question.
- December 9, 2008 at 4:25 pm #88500
Re: Wealth Tax:
I was recently told by a partner at Blevins Franks that whilst the tax has been abolished, people will still have to complete an annual return for the tax, and will be issued with a tax credit for 100% of the tax due.
Basically, the authorities want to be kept informed of an individual’s wealth each year, thereby keeping the door open for the tax to be easily re-introduced – should the government feel it needs the Wealth Tax revenue in the future!
- December 9, 2008 at 7:27 pm #88501
Snowy: You are absolutely correct. Once the current crises & the so called fiscal stimulus is over and the unemployment benefit that are being paid. The payback time will arrive.
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