capital gains

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This topic contains 1 reply, has 2 voices, and was last updated by  Mark Stücklin 2 weeks, 6 days ago.

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  • #214573

    sheeba
    Participant

    We have a property in Mallorca which we are selling which was bought in the 1950’s and put in our names as the children. Our question is there a formula the Spanish authorities accept to value the property as there has been a lot of development to the property and we only have estimates but not enough receipts. It was bought as a piece of land with a ruined finca on this at around 4000 euros and currently worth close to 2 million at sale. Any help or guidance would be greatly appreciated.

  • #214574

    Mark Stücklin
    Keymaster

    Sheeba, when you come to sell your lawyer will be able to confirm this for you if I’m wrong, but as I understand it you can only deduct building work for which you have receipts. Best work on that assumption and be happy if it turns out better.

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