CGT in Spain on UK property

Information and questions about the Law in Spain and Andalucia.
Rabbitcat
Newbie
Posts: 2
Joined: Fri Nov 11, 2016 4:08 pm
Location: UKPCZO AVENIDA

CGT in Spain on UK property

Postby Rabbitcat » Sat Nov 12, 2016 11:12 am

Hi folks

Quick query

If I sell my UK home and move to Spain I realise after 183 days there I am tax resident.

Does this mean effectively if I sell my UK home and move to Spain in the same year I will owe CGT to Spain on the sale of my UK home?

I am thinking the way round this is don’t move to Spain until after calendar day 183 (beginning of July) in any year.

Comments answers much appreciated

El Cid
Andalucia Guru
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Joined: Sun Oct 24, 2004 10:42 pm
Location: La Herradura, Costa Tropical, Granada

Re: CGT in Spain on UK property

Postby El Cid » Sat Nov 12, 2016 11:26 am

Your thoughts are correct. In Spain, unlike the UK, when you meet the tax residency criteria in a given year, you are deemed tax resident for the whole of that year. So if the gain is in that year, CGT is due.

As you say, just move to Spain in the second half of the year.

Sid

Rabbitcat
Newbie
Posts: 2
Joined: Fri Nov 11, 2016 4:08 pm
Location: UKPCZO AVENIDA

Re: CGT in Spain on UK property

Postby Rabbitcat » Sat Nov 12, 2016 11:31 am

Thanks very much Sid
I appreciate it


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