- April 28, 2008 at 8:31 pm #53904
If you sold your property in Spain between 2003 and 2006 you could be entitled to reclaim thousands of pounds back of the Capital Gains Tax you paid
Between 2003 and the end of 2006, UK citizens and other non resident EU citizens paid 35% Capital Gains Tax (CGT) when selling their property, whilst Spanish nationals only paid 15%.
The European Commission has said that this 20% overpayment contravenes European Community Treaty discrimination rules and should not have been charged by the Spanish Tax Authorities.
Therefore, if you meet the requirements below, you are entitled to reclaim 20% of the total CGT you paid, plus approx. 6 % interest annually from the time the CGT was originally paid (estimated average to reclaim: 20 – 30.000 €).
Check the website: http://www.spanishtaxreclaim.co.uk/
I hope that this may help someone who has moved back.
- April 29, 2008 at 6:19 pm #81916
That is great , and you are very good for bringing it to the forums attention.
BUT!!! I have my serious doubts that anyone will get back any money back from them even though the E.U says thay are entitled to .
It is difficult enough trying to get your money back from the dodgy developers even when a judge orders them to give it back not to mind expecting the goverment to hand it back especially at this difficult time with the property slump and all of that.
But then again I have just probably lost all faith in the system!
Thanks anyway jbsupplies, you are very good in bringing this to the forums attention and I am sure it is appreciated my everyone.
- April 29, 2008 at 7:10 pm #81921
Also, nobody will get 6% interest, even if “miracle of miracles” this tax were to be repaid!
- April 29, 2008 at 7:34 pm #81923
Also I think most of the Lawyers are taking 35% of the amount reclaimed. Much better to DIY. I do think it is all pie in the sky too. I also know that many who sold up did not actually pay the tax. they had the 5% retention and skipped the country.
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