Plus valia and CGT on house sale

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peteroldracer
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Plus valia and CGT on house sale

Postby peteroldracer » Thu Nov 12, 2015 9:12 pm

Talking to an estate agent today he says houses are selling, if they are at the right price and seemingly mostly to Belgians.
Can anyone clarify for me, if we were to sell our house what we would have to pay out apart from agent's commission?
We are pensioners, have paid spanish income tax for four years so assume tax resident, though I have not seen any certificates to this effect.
I have read about CGT, and reckon this would not apply to us? Is 'plus valia' a different thing, or just another name for CGT?
Perhaps the whole selling/ buying question deserves an FAQ...
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Re: Plus valia and CGT on house sale

Postby katy » Thu Nov 12, 2015 10:27 pm

We had to pay just over €5000 plus valia. You wouldn't pay CGT but need to present certificates to Notary. There are other small fees but not extortionate.

I would take what Agents say with a pinch of salt....Belgians indeed, just doesn't sound feasible. Before it was Russians and then Chinese. The Brits are still the main buyers.

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Re: Plus valia and CGT on house sale

Postby Lyric » Fri Nov 13, 2015 12:26 am

POR PM sent.

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peteroldracer
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Re: Plus valia and CGT on house sale

Postby peteroldracer » Fri Nov 13, 2015 10:47 am

I have found an article on the web but in complex Spanish about plus valia. It does however give the co-efficient for Comares as 2.33. All I need now is the rest of the calculation lol.
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Re: Plus valia and CGT on house sale

Postby Miro » Fri Nov 13, 2015 11:11 am

Plus Valia is payable to the town hall within 30 days of selling. The town hall can give you the exact amount you'll be due to pay. Probably quicker and easier than trawling through google results!
I think here the rate is 28% based on the valor catastral, adjusted by a percentage according to how long you've owned the place, but don't quote me!

CGT is levied by Hacienda based purely on the difference between purchase and sale prices (less any allowable expenses). You will need to obtain a certificate of tax residency to present to the notary, otherwise they will retain 3% in lieu of potential CGT as if you were non-resident. If you come up against the barsteward who I had to deal with a couple of years ago in Málaga, expect a fight to get the certificate :evil:
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Re: Plus valia and CGT on house sale

Postby katy » Fri Nov 13, 2015 3:07 pm

Miro is correct. No idea how it is calculated but the longer you have owned the property the higher it is. They may now take into account recent property falls, who knows.

We owned our house a long time hence the high figure. You can negotiate for the buyer to pay, depends on if you got a good price for the property, or not.

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concorde
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Re: Plus valia and CGT on house sale

Postby concorde » Sun Nov 15, 2015 2:27 pm

Peter,
Try this site, it was given in here by Beachcomber.

http://www.foro-ciudad.com/plusvalia-municipal.php

Even I could work it out, which is saying something!

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Re: Plus valia and CGT on house sale

Postby chrissiehope » Sun Nov 15, 2015 2:37 pm

Concorde, I just tried that link, and it took me to Google.es .... :thumbdown:
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Re: Plus valia and CGT on house sale

Postby Lyric » Sun Nov 15, 2015 2:42 pm

Worked for me :thumbup:

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Re: Plus valia and CGT on house sale

Postby chrissiehope » Sun Nov 15, 2015 2:48 pm

Well, I've tried it in IE8 & Firefox, I've tried just using the basic site address, but still end up with google.es :crazy:
Maybe something to do with me being in UK ?
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Re: Plus valia and CGT on house sale

Postby El Cid » Sun Nov 15, 2015 2:56 pm

Note that Plus Valia is a tax on the increase in value of the LAND, not the building on it.

Your IBI receipt should show the total catastral value, but also show the individual value of the land and the building.

Sid

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Re: Plus valia and CGT on house sale

Postby gus » Sun Nov 15, 2015 4:08 pm

I just clicked the link and it worked simple! :thumbup:

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Re: Plus valia and CGT on house sale

Postby peteroldracer » Sun Nov 15, 2015 4:13 pm

The link worked for me...I only hope the figures I input and got out are correct. If so, I have nothing to worry about....assuming there is ever a sale!
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Re: Plus valia and CGT on house sale

Postby Lyric » Sun Nov 15, 2015 4:21 pm

it gives me an error, as I'm sold I'll wait until I get the breakdown from the Abogado that he will send me last week :thumbdown:

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concorde
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Re: Plus valia and CGT on house sale

Postby concorde » Sun Nov 15, 2015 4:25 pm

Christie, sorry. The link didn't work for you, I'm in the UK too, I am using a Mac and also an iPad.

Anyway, so much for me knowing what I'm doing.

I'd put the whole Valor Catastral into the equation!

Thanks to El Cid's post, by entering the Valor Suelo the total sum payable has nearly halved :thumbup:

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chrissiehope
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Re: Plus valia and CGT on house sale

Postby chrissiehope » Sun Nov 15, 2015 10:54 pm

Now I'm beginning to get cross - I tried the link again, and again it went to Google.es page. So I thought 'OK, I'll search for foro-ciudad" yes, up came a result with links to different regions (but funnily not Malaga), but when I clicked on the various links, guess where I ended up - yep, Google.es :crazy: :evil:

Thinking about it tho' - is plus valia only for residents and am I wasting my time ?
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Enrique
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Re: Plus valia and CGT on house sale

Postby Enrique » Mon Nov 16, 2015 11:14 am

Hi chrissiehope,
Clear your Cookies and other temporary stuff........... run CCleaner

http://www.filehippo.com/download_ccleaner

Next::

Reboot your system.


You may have a problem with your Browsers...but do above first and Report back

Thanks
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Re: Plus valia and CGT on house sale

Postby Miro » Mon Nov 16, 2015 11:23 am

chrissiehope wrote: Thinking about it tho' - is plus valia only for residents and am I wasting my time ?
As Sid explained, it's a tax on the (perceived!) increase in the value of the land that the property occupies. It applies to anyone who owns and subsequently sells a property in Spain, regardless of their residency status.
Don't worry about what people think, they don't do it very often

"Acquiring a dog may be the only opportunity a human ever has to choose a relative," Mordecai Siegal 1935-2010.

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chrissiehope
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Re: Plus valia and CGT on house sale

Postby chrissiehope » Mon Nov 16, 2015 2:20 pm

Miro - thanks, that's what I thought, I was just getting into a bit of a tizz !

Enrique - will do shortly :D
Alexandr for President (Squire for PM !)

Outside of a dog, a book is a man's best friend.
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chrissiehope
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Re: Plus valia and CGT on house sale

Postby chrissiehope » Tue Nov 24, 2015 5:56 pm

Enrique - sorry for the delay - went away for the weekend & then forgot about it ! Anyway, I ran CCleaner last week, and have just tried that link again, with the same results as before...
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Outside of a dog, a book is a man's best friend.
Inside of a dog it's too dark to read (Groucho Marx)


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