Brits tax reclaim for Spanish property
The general public started flocking to Spain during the 1970's
. The package holiday made places like the Costa del Sol an easily affordable holiday for hundreds of thousands.
Since then things have changed enormously and there are many British individuals who currently or perhaps have previously bought real estate in Spain. The attractions of a property in the Mediterranean have proven to be a winner in the UK.
It now seems that Spanish real estate buyers may very well be eligible to a refund of their Spanish Capital Gains tax. This means if any of you sold a Spanish property in between January 1st 1997 and December 31st 2006 you can receive a refund.
How is this possible?
The European Court of Justice recently ruled that non-Spanish residents were wrongly and unfairly charged thirty five per cent in Capital Gains Tax while local residents were were charged only fifteen percent.. As a result it is now possible to submit a claim to get the 20% difference back from the Spanish Tax authorities.
Tax and legal experts have estimated that an average of 13,500 could be credited to property owners who sold since 1997 up to the end of 2006.
How do you qualify?
The qualification process is simple.
- Between January 31st 1997 and December 31st 2006 you sold your Spanish property
- At the time you sold your property you were not a Spanish resident
- You have a copy of the purchase and sale deeds of your property
- You've got the Spanish Tax form Modelo 211 and / or Modelo 212
What to do now
If you do meet the above critieria there are specialist tax reclaim law firms which can assist in getting back your money. It is important that before you do anything or get to excited that you carry out the required research on your property, which includes finding all necessary documentation.
Once you have done your research and have the required paperwork, it is then a question of finding the right legal organisation to help you which would ideally be a specialist tax reclaim law firm .
Brits tax reclaim for Spanish property
By: Greg Jacobs
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