Re: Re: Capital Gains Tax

#118005
Anonymous
Participant

Thanks again.
We have owned a holiday home in Spain and had an NIE number since 1989.
In 2003 we built our present home, sold our other one and paid the taxes.
We have tenants in our house in the UK and their contract is until July 2014.

This is part of an email from our Spanish tax advisor:
“thanks for your email.
When you came to see me, we said that you are not obliged to do a tax
form.
I am a little bit confused now about that. We did your overseas assets
form 720 but you don´t have to do another tax form.
The deadline for tax returns for residents is the 30th of June, but as I
have said, there is no form to do for you.”
If we decide to sell in another 3 years when I’m a pensioner( my wife is now) would I be correct in assuming that we could sell the Spanish property without paying CGT and return to UK and sell that property (after renouncing our residencies here in Spain and spending the necessary time out of Spain) without incurring CGT in Spain on the UK property for the time we were resident here.