October 9, 2007 at 10:54 am #53222
HELLO I’M NEW.
I’m so glad I found this forum – it’s full of interesting stuff.
I have been reading on the forum about how to complete the 214 form. I think I have got it sussed for this year:
Renta = Catastral Value x 1.1% x 25%
Patrimonia = Catastral Value x 2% x 25%
However, we had solicitor doing our returns for the last 2 years and he calculated the Renta as Catastral Value x 1.1%. Has the law changed in the last couple of years or is he incompentent?
We have overpaid by 180 euros – is there any chance of getting this back from the authorities or offsetting against a future year?
Also when calculating the Renta he used the Declared Value which was more than the Catastral Value at the time, but the Catastral Value seems to go up every year. Are we supposed to be notified of this or is it just inflation?
I noticed that the tax rate for the Renta is 24% from 2007. Does this mean when I fill in the form next year I should 24% rate instead of 25% or is that for the 2006 form?
Thanks for any help I will be ever so grateful.
October 14, 2007 at 12:10 am #75640
I’m not an expert , so somebody else might correct me.
I complete my form 214 myself each year as follows-
Box 1 – Valor -the value of your property on the escritura ( half this if the property is Jointly owned).
Box 3 -Base imponible y liquidable – this amount is the same as in box 1 . You calculate your patriminio at 0.2% of this value
Box 4 – Cuota íntegra. Impuesto Patrimonio -The value you got in box 3 having worked out 0.2% of the value in box 1( e.g – if value on escritura is 100,000 – 0.2% of this is 200 euro)
In box 5 you put the ‘base imponible’ which is 2% of the valor catastral or 1,1% if your valor catastral has been revised since 1994. This will be shown somewhere on your IBI receipt as ‘año de revisión’. (again half of this if the property is jointly owned!)
In the box ‘tipo de gravamen’ you put 25% as this is the percentage applied to the ‘Base imponible’.
Box 6 ‘Cuota integra’ is the result of applying the 25% to the 2% (or 1,1%) of the half of the valor catastral.
You then total box 4 (patriminio) and box 6 (renta) to get your total.
I don’t have a spanish mortgage on my property but if you do the calculations are slightly different as you have an allowance for the mortgage to be taken from the VALOR in box 1.
Not too easy to explain . I don’t know about renta being reduced for 2007 to 24% . I paid 25% this year which for me is an extra 4 euro!
Good Luck! – regards, saga
October 14, 2007 at 6:11 am #75641
October 16, 2007 at 12:16 pm #75666
Has anyone ever tried to reclaim over paid personal and property tax or should I just forget it??
October 16, 2007 at 12:40 pm #75669
Handy Hint -Don’t ask them to do your tax return.
October 16, 2007 at 2:32 pm #75672
Thank you Saga! My escritura value is very low, so I have been advised to use the catastral value for both taxes.
I am not sure why though, a lawyer has prepared the deeds and I had no say in the value.
Has anyone any opinions?
October 16, 2007 at 5:03 pm #75673
Don’t know about 214 as not filled one in yet. tax on rent from tenants declared on 215 is now taxe at 24%.
October 17, 2007 at 11:43 am #75686
when it says tax rate for 2007 is 24%, does it mean for the 2006 tax return or the 2007 tax return? Confusing isn’t it?
October 17, 2007 at 12:11 pm #75687
Well to be safe i’m using 25% for 2006 and 24% for 2007.
the difference is so small it’s not worth asking.
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