Taxes
Tax Planning After Brexit
How we can advise on your tax and fee matters in Spain:
It is important to establish your tax residence in Spain if you have an investment or property in the
country as whether you are classed as resident or non-resident will determine the amounts of tax you
are liable to pay. If you don’t correctly establish your resident or non-resident tax status in Spain, miscalculate the tax you have to pay or miss a deadline for filing a tax return, you could be liable for significant fines. Being aware of what taxes and fees you will have to pay when you are buying a new home in Spain is crucial. If you handle this process in the correct way from the start you remove the risks of encountering problems in the future.
Inheritance tax, property tax, income tax, registration fee and municipal tax. These all some of the taxes and fees that you have to pay before, during and after the property purchase. The amount of these depend on several factors, among all whether you are planning to rent out your home, the regional laws in the area where you are buying your home, and how to move forward if you ever plan to sell your property.
Our accounting experts have comprehensive legal experience within taxes, financing and accounting.
We can help you with:
- General tax rules for businesses and individuals
- Creating Tax Identification Number (NIF) for companies and individuals
- Allocate a tax representant in Spain who will help you with tax declaration, annual accounts
for companies etc. - Tax evaluations regarding sales and purchase of property, entreprises and limited liability
companies etc. - Advice regarding relocation from England to Spain, and questions about Spanish citizenship
- By involving us in the process from the beginning we can ensure that everything follows procedure, and that you avoid any unpleasant legal or economic surprises later on.
Non-Resident Tax Spain
It is important to establish your tax residence in Spain if you have an investment or property in the country as whether you are classed as resident or non-resident will determine the amounts of tax you are liable to pay. If you don’t correctly establish your resident or non-resident tax status in Spain,
miscalculate the tax you have to pay or miss a deadline for filing a tax return, you could be liable for significant fines.
Spanish Non-Resident Tax Calculator
There are a number of free online Spanish Non-Resident Tax Calculators but please be wary about relying on them to calculate the tax you think you need to pay. As there are so many complex variables regarding your tax residency status, the type of income you receive, the type of property you own etc the results from these calculators can often be inaccurate. The fact you used an online calculator will not help you if the Spanish tax officials issue a fine for an inaccurate tax declaration.
For both your peace of mind and to avoid any nasty surprises in future, it is always worth getting professional advice on your Spanish Non-Resident Tax. Tax and legal professionals may also be able to suggest tax mitigation steps you can take that can actually help you legitimately reduce your tax
bill.
Get in touch for an accurate estimate on your Spanish property taxes
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