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José M.
José M., Attorney
Category: Spain Law
Satisfied Customers: 6146
Experience:  Spanish Attorney
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We are likely to become residents purposes next year

Resolved Question:

We are likely to become residents for tax purposes next year in Spain. All our income is from the UK: company pensions as well as rental income from properties we own in London. How is the rental income taxed, please? Are our management and repair costs offset against the income for taxation purposes? Is there a guide we can refer to?
Thank you for any help you can provide
Submitted: 2 years ago.
Category: Spain Law
Expert:  José M. replied 2 years ago.
Hi there

In Spain, you have to pay rental as job income
Repair cost and management with bills are deductible from rentals
In this link you will get more information

http://www.strongabogados.com/taxes.php

Please let me know if you need more help

Please rate posittively my service in the icons

Thank you
Customer: replied 2 years ago.

This states that tax is payable on the gross not net income, which is in conflict to what you say about repair costs and management bills being deductible? Or does the form referred to allow for costs to be listed so a net figure is liable to tax at the 24% rate stated?

Expert:  José M. replied 2 years ago.
You have to take the gross and you could rest the tax paid in UK, rest the expenses you got with bills and pay for the total of it
The per cent you have to pay at the end will be according to your total income
There are tables for it from 0 to 60 per cent

Thank you
Customer: replied 2 years ago.

Sorry, I do not understand what you mean by " rest the tax paid in the UK, rest the expenses ... and pay for the total of it." There will be no tax in the UK, I thought? Quizas major si lo escriba en castellano?

The reference you gave me does not mention rental property income for residents specifically, only non residents.

Expert:  José M. replied 2 years ago.
I mean that the tax paid in UK can be deduced, rested, from the sum due to pay in Spain
Le quiero decir que los impuestos que Ud pague en Reino Unido los puede deducir de las cantidades que deba pagar en España
Se suman todas las cantidades que ud cobre de las diferentes rentas, trabajo y capital, y se deducen los gastos, y de esa cantidad se pagan los impuestos acorde a las tablas
Las tablas son en función de sus ingresos totales, por eso podemos no pagar nada hasta el 60 por ciento que deben pagar las grandes fortunas
Gracias
Customer: replied 2 years ago.

Gracias, ahora lo entiendo mejor. Supongo que lo que me ayudaria es tener un ejemplo de la declaracion de renta que tendremos que presenter. Donde puedo encontrar esto, junto a las explicaciones, por favor? Y como se presenta la declaracion, supongo que sera por internet, como en RU? Tiene la pagina web, por favour?

Expert:  José M. replied 2 years ago.
Se puede descargar un manual AQUI
Se puede descargar un programa informatico llamado PADRE Aqui
Para saber mas AQUI

Gracias
Customer: replied 2 years ago.

Creo que ya hemos llegado a donde necesitaba estar. Gracias, Jose

Expert:  José M. replied 2 years ago.
Aquí estaré si me necesita
Le ruego que no olvide valorar el servicio prestado
Gracias
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