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Modelo M720 Warning!

Modelo M720 Warning!

Postby Martin the artist » Tue Feb 09, 2016 5:51 pm

Modelo M720 - warning
If you need to fill one of these in, have you?

This came to light yesterday, 8th Feb, when my wife & I each received a hand delivered letter from the Agencia Tributeria informing us in Spanish that there will be a disciplinary hearing soon to determine the extent of the offence we have committed which has been classified as very serious!....

The letter went on to say the offence was that the information about our foreign assets at the time (2013)- a chalet which we have since sold & paid heavily for in tax to the Spanish taxman - was not notified in time! Less than week late!

As a consequence we will each receive a fine of around 1,300€, which if not paid immediately will then multiply quickly!

The letter was a long one and in Spanish… My Spanish isn’t good but enough to see we could be in serious trouble!

Obviously we have been to see our solicitor today who immediately took responsibility and will fully pay the fine as it was her fault.
We use a solicitor in Torrevieja who does our M720s for us, but she had got caught out on the first year that they became mandatory, 2013.
Apparently she made an error in them as even she found them complicated, and hence missed the deadline of April 30th by just a couple of days!

So we are glad we have an honest and reputable solicitor!
She has tried to find way round it, but there is none and we are not her only clients who have received such letters, so she could well be a lot out of pocket!

BUT if we are being fined over 1000€ each just because the form was received a few days late, how much will anybody be fined if they have failed to declare any overseas assets & they get discovered after a few years!

I know the legality of M720 is being discussed by the European parliament at the moment, so it is possible refunds could be in order eventually if found to be illegal, but for now the best advice is to declare your foreign assets and pay any fines quickly. :(
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Martin the artist
 
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Re: Modelo M720 Warning!

Postby Stephanie » Tue Feb 09, 2016 7:10 pm

Thanks for the info.,I changed my fiscal rep. last week because of a house move and found qthat the previous one had not declared a bank account, although they were given the information at the time. Let's hope they own up if I have any problems. They were one of the top people in Torrevieja and as such I don't expect this kind of mistake.
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Re: Modelo M720 Warning!

Postby scubydoo » Tue Feb 09, 2016 11:42 pm

:text-goodpost: :text-thankyouyellow: Be aware all get a good fiscal rep who will take on everything if you skimp you could be in the SH1 and it is not worth it!
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