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17 Jan 20, 06:47 AM |
#11
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Imagineer
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Also be aware that the tax regime may be changing after Brexit for British non residents.
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Index of my trip reports 2016 Quebec - Kuala Lumpar - New York City 2017 Dubai - Eurocamps France - Ontario and Quebec - So-Cal 2018 Montreal - Bangkok - New England 2019 Argentina - Quebec City - Hong Kong - 2020 Switzerland 2022 Arizona - Costa Med Cruise - Oslo 2023 Hong Kong - Gothenburg |
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17 Jan 20, 08:01 AM |
#12
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slightly serious Dibber
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Our school uses ReadWriteinc - it’s fantastic! The year our DS started school was the first year they used it. The teachers were delighted with how quickly the kids picked it up. I couldn’t believe how quickly my DS became familiar with his sounds. He’s 7 now and a really fluent reader and amazes me regularly with the words that he can read / sound out x
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Sparklepants x |
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17 Jan 20, 11:20 AM |
#13
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Imagineer
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I live in Spain and although I am sure you have done all your homework re taxes and legalisation etc I feel it would be remiss if me not to give you some pointers. My second job here is selling houses, but not in an area of coastal tourism and definitely not in an area you are describing, so I have nothing to gain from the advice given. Firstly, regardless of what Estate agents tell you not all properties are allowed to be rented out to a third party. New laws have been introduced since the rise of air bnb. You have to apply for a licence to rent as a holiday home and fulfil the appropriate criteria From July 1st 2018 most of the booking sites will no longer allow unregistered properties to apply. If you have registered without a First Occupation Licence and not applied for one, you could be fined up to 2,000 €. Properties in a rural location (village with less than 20,000 inhabitants) who previously fell outside of the regulation for rural properties can now register as a VFT (Vivienda con Fines Turísticas) spanishpropertyinsight.c...ay-rental-law/ This link will give you up to date rules and regulations. Bear in mind, this is Spain, rules are variable from city to city, village to village there is no “norm” Taxes You have to pay tax on any rental income and that includes a tax called “nrit” non rental imputed tax, you pay this whether you rent out or do not rent out blog.abacoadvisers/tax-o...dent-in-spain/ agenciatributaria.gob.es...ini/GF00.shtml Until the end of the transition agreement Spain has a tax treaty with the U.K. which means you do not pay in both countries BUT you have to declare your taxes in Spain even if you do not live here Wills Check out the rules re a will. The laws here in Spain will supersede any laws in the U.K. even if non resident with regards to the property. Then there is Brexit which will have an impact on ownership and taxes, for instance at the moment as an EU citizen there are taxes payable for rental of properties of non-residents. As a non-resident with property in Spain that you rent out, you are obliged to submit tax returns on a quarterly basis. If you are a citizen of an EU country, Norway or Iceland all expenditure relating the the rental of the property (including mortgage interest) are deductible for tax purposes. If you are a citizen of a non-EU country, then the full amount of income that you receive is taxable with no allowances. The current tax rate for Spanish rental income earned by non-residents is 19% for residents of the EU, Norway or Iceland and 24% for others. This I know is all very boring and not as “exciting” as the location, the property and the dream, but I’ve seen and heard of too many people who have been told incorrect information. Do not even rely on this post, the Spanish government websites are available in English etc Blevin Franks have lots of free downloads as does ábaco, both links above. The both Ofer up to date advice on the website free of charge and it will at least give you some pointers to look out for. Do not rely on your estate agents and do not rely on their solicitor make sure you get your own and if they don’t speak English pay for a translator . I can’t comment on your requirements because it depends on what income etc you “think” you will get and what you need, that will determine the best place and without knowing the location it’s difficult to advise Please accept this post in the spirit it was given. Spain is a great place I wish you good luck in your search Exactly. Things are very much undecided at the moment, |
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17 Jan 20, 11:23 AM |
#14
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Imagineer
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New rules have come in and they are getting very strict, especially in Andalucia where water is an issue
The Junta de Andalucia (regional government) states that (new) buildings built on rustic plots are minimum 7,000m2 of land to a ratio of 100m2 built property (and this is below 300m above sea level) - above this then the land required increases to as much as a 30,000m2 plot for the same build volume. |
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17 Jan 20, 06:39 PM |
#15
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Thread Starter
Apprentice Imagineer
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Thank you all for your replies especially Tinkerbell, all advice gratefully received. I have been reading up on it all and it can be quite daunting with language barrier too. It was good advice to not use the estate agents solicitors duly noted x
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Sas |
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17 Jan 20, 06:51 PM |
#16
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Imagineer
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Apartment in the town with shared pool, then villa
Good luck whatever you decide!
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17 Jan 20, 07:11 PM |
#17
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Imagineer
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17 Jan 20, 08:56 PM |
#18
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Imagineer
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I would go for the apartment with easy access to bars and restaurants
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DLP (Disney Explorers) Sep 2004, DLP (Sequoia Lodge) Sep 2007, Disney CSR/Universal RPR Oct 2010, Disney AKL Oct 2012, Doubletree by Hilton at Seaworld Oct 2014, West Coast Road Trip 2017, Florida Road Trip 2018, West Coast Road Trip 2019, East Coast/Canada Road trip 2022, National Parks Road Trip 2023 |
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18 Jan 20, 01:12 AM |
#19
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Imagineer
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For me it would have to be the 2/3 bed near bars and restaurants.
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18 Jan 20, 01:59 AM |
#20
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VIP Dibber
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I’d say spend the money on a local rent where the rules and returns are crystal clear and then spend the proceeds on Spanish holidays.
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