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José M.
José M., Attorney
Category: Spain Law
Satisfied Customers: 5920
Experience:  Spanish Attorney
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We have just sold our apartment that wee have owned for 34

Resolved Question:

We have just sold our apartment that wee have owned for 34 years.
The agent has deducted Non Residence Tax of 1,800 euros and 5,600
in respect of Plus Valia.
Is any of this reclaimable We have submitted forms 210 every year.
The partment was sold for 56,000 euros net.
Cost in 1980 Sterling £9780
Improvements Pesetas 13710.
Equipment Pesetas 2290
Equipement Euros 1461.
Apartment was sold with furniture and equipment..
Submitted: 2 years ago.
Category: Spain Law
Expert:  José M. replied 2 years ago.
José M. :

Hi there

José M. :

José M spanish attorney

José M. :

Next year you will have to make the tax declaration and we are going to find out the data

José M. :

You have to pay 21 per cent of the first 6.000 euros profit and 19 per cent of the rest

José M. :

So we have to take the sold out price 56.000 euros and rest the buy cost ( you have to look at the escrituras the price paid in pesetas ) rest the cost of the register and notario, rest the cost of the improvements and equipement, and you will got the profit

José M. :

Once you know the profit, make two steps, first 6.000 euros are charged 21 per cent ( 1260 euros) and 19 per cent for the rest

José M. :

The sum paid now for plusvalias to spanish tax office, is deductible to the final sumdue to pay last year

José M. :

Ask the agent if he has only deduce for personal taxes or if he has paid also plusvalias of the City hall

José M. :

In the next 6 months from the sold out fact you have to pay plusvalias in the city hall

José M. :

So, may nbe the agent has deduced two sums, one for the spanish tax office and aonother one for the City hall

José M. :

If you tell me the data of the price in pesetas paid when you bough it I can make the numbers for you

José M. :

The City hall plusvalias is a tax which I can no know the price due to pay, it must ne asked in the city hall with the catastral reference of the propiety

José M. :

I will be here if you need more help

José M. :

Thank you

Customer:

Jose

Customer:

Jose,

José M. :

Hi

José M. :

I am on line

José M. :

As you write I am going to resume the situation now

José M. :

You have to pay two differents taxes

José M. :

Plusvalia in the City hall and personal taxes next year in the personal tax declaration

Customer:

Jose I gave you all the details of the cost of the apartment including improvements and cost of Fixtures etc which were included in the sale price.

José M. :

But I have no the price declare in escrituras when you bought it

José M. :

You need that data and you will find it in the escrituras

José M. :

So, take the selling price, rest the price you declared then, rest the cost of the furniture and equipment, and rest the cost of notario and propiety register, at the end rest the price paid to the city hall for plusvalia, and then you will have a sum, the profit

José M. :

You will have to pay 21 per cent for the first 6.000 euros profit and 19 for the rest. The sums deduced now for the agent are paid in advanced, so deductible next year

Customer:

In UK you used to be able to claim an increase in the cost depending on the years the asser

José M. :

In Spain when you bought it was used to be the same, but no now

Customer:

In the UK you were allowed an indexation depending on the number of years you held the asset;does this not apply in Spain.

José M. :

Even, for the next year, 2014, they are thinking to increse the sum due to pay 300 per cent, but they are changing his mind now

José M. :

No, now, the time you were propietor now is no amtter to pay yaxes

José M. :

It was when you bought but no now

José M. :

Now they take care just on profit

José M. :

And they taxes the profit this way, (21/19 per cent) and they do not care the time elapsed since you bought it

José M. :

I will be here if you need more help

Customer:

Your reply has been very useful.

José M., Attorney
Category: Spain Law
Satisfied Customers: 5920
Experience: Spanish Attorney
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