Re: Re: 3% CGT Retention on sale of property


I sold my property at a loss in Oct 2011 but I covered all my fees including repayment of the mortgage and did not owe anyone anything, however the 3% retention fee was held & I was told I would get it back within a year. I am registered with a solisitor & paid my tax & all my bills duing the 5 years I owned the property I was told to keep my Spanish bank account so that any monies owed would be returned to my account. I returned to Spain October 2012 hoping that I would get the refund. I approached my tax office & the bank & was told I would have to wait for repayment to be returnedn to my account. My Solisitor advised that forms had been submitted to the local town hall (Los Montesinos) and I have to wait.
Another year & still no money I lost over £100 thousand as I took equity our of my house in the UK to pay for the apartment & a spanish mortgage. I loved Spain, the apartment was exceptional but I would definately not advise anyone to buy property there without fully understanding or trying to understand the Spanish system.