Join Talk Quesada
Welcome to Talk Quesada! My name's Alex and this is my website all about Ciudad Quesada in Spain. Talk Quesada is free to sign up and use so register below!
Suma - Capital Gains Tax
Re: Suma - Capital Gains Tax
by suzi wong » Thu Dec 01, 2022 12:41 pm
Google capital gains tax spain,lots of useful articles about it. Good luck.
-
suzi wong - Posts: 659
- Joined: Mon Dec 04, 2017 3:56 pm
- Which part of Spain are you from?: Benimar 11
- Gender: Female
Re: Suma - Capital Gains Tax
by nigieboy » Sun Dec 04, 2022 11:16 pm
Sounds a nightmare, almost worth selling up and moving back to the uk before the inevitable hapoens.Thoughts?
-
nigieboy - Posts: 436
- Joined: Wed Oct 26, 2016 7:20 pm
- Which part of Spain are you from?: Benijofar
- Gender: Male
Re: Suma - Capital Gains Tax
by wes1977 » Sun Dec 04, 2022 11:44 pm
I don’t live in Spain. My dad did, he died and myself and my sister were left villa. We can’t sell it because his partner still lives in it. Until such time she doesn’t want to or something happens there is nothing we can do. Don’t even have any keys
- wes1977
- Posts: 8
- Joined: Wed Nov 30, 2022 1:56 pm
- Which part of Spain are you from?: Murcia
- Gender: Male
Re: Suma - Capital Gains Tax
by Paulr » Mon Dec 12, 2022 8:54 pm
wes1977 wrote:My father passed away in Spain in October 2017 and we inherited his property out there. At the time we went through a Spanish Solicitor to sort everything and we paid all taxes due at the time.
In August 2019 we received a bill from SUMA relating to Capital Gains Tax requesting us to pay. I spoke to the solicitor out there to ask their advice and they told me that at the time of my dads death this tax was suspended but now they have brought it back and they have backdated it to everyone who died from Oct 2017 onwards and I will have to pay it.
I have not paid it as I do not have the money to pay and I think it is unfair that we should be made to pay this when it has been presented to us 2 years down the line. It is now 5 years since my dads passing and I am still being chased.
I cannot sell or even access the property out there as my dads partner still lives in it until such time she does not want to which was my dads wish in his will.
Where do I stand with this and what will happen if I do not pay. Could my credit be affected in the UK?
Is there anyone else on here that has experienced this?
I have to say the whole process in Spain when someone dies is horrendous.
Hi Wes,
This doesn't make sense. When you and your sister inherited your father's property, you would have paid Inheritance Tax, also known as Succession Tax, but you wouldn't pay Capital Gains Tax unless you sell the property (assuming that it isn't your primary residence at the time you sell). As children of the deceased, there were very generous allowances, especially in the Comunidad Valenciana autonomous region, against Inheritance Tax which would probably have resulted in your Inheritance Tax liability being quite small, relative to the value of your Dad's property, possibly discounted by as much as 95%. Also, as you inherited the property 5 years ago and haven't sold it, this would actually attract a further allowance against Inheritance Tax, which you should ask your lawyer about.
The other thing to remember is that SUMA is the agency which collects municipal taxes in the Alicante region, so the bill they've sent you must be for a tax levied by your Town Hall, not for national taxes. I think your bill is actually for "plusvalía", a municipal tax in respect of the increase in the value of the land on which your inherited property is built - it's based on the difference in value between when your father bought the property and the date on which ownership passed from him to you (and your sister). This would also align with your lawyer's advice that, in 2019, the tax had been suspended. At the time, it was misreported as having been abolished, but that wasn't the case, it was suspended by the High Court to enable Spain's Finance Ministry to come up with a calculation that more accurately reflected any change in land values - this article explains it in more detail:
https://www.mediterraneanhomes.eu/en/bl ... -abolished
In your position, I would specifically ask your lawyer whether the bill is for Plusvalia tax. If it is, then you need to pay it - I'm not aware that this will affect your UK credit rating, but delaying payment any further will simply result in the bill increasing because of fines for late payment and interest.
Good luck!
-
Paulr - Posts: 1122
- Joined: Fri Jan 13, 2017 11:52 am
- Which part of Spain are you from?: Formentera
- Gender: Male
Re: Suma - Capital Gains Tax
by wes1977 » Mon Dec 12, 2022 9:06 pm
Thank you so much for your detailed reply. I’ll go back to my lawyer to ask this question. The letter I have clearly states Capital Gains Tax but could be what you are saying. My lawyer has not been very clear at all with any of this. Makes everything doubly stressful.
- wes1977
- Posts: 8
- Joined: Wed Nov 30, 2022 1:56 pm
- Which part of Spain are you from?: Murcia
- Gender: Male
Page 2 of 2 • 1, 2
15 posts
• Page 2 of 2 • 1, 2
Related topics
-
- Similar Topics
- Replies
- Views
- Last post
-
-
Capital Gains Tax
by JustGinger » Fri Feb 09, 2024 5:13 pm in Quesada general discussion - 6
- 278
-
by MALTHOM
Sat Feb 10, 2024 9:12 am
-
Capital Gains Tax
-
-
Capital gains tax and local tax return
1, 2, 3 by Luckjockey » Wed Jan 24, 2024 5:21 am in Quesada general discussion - 24
- 500
-
by Philipb1407
Thu Jan 25, 2024 10:44 am
-
Capital gains tax and local tax return
-
-
CAPITAL GAINS TAX ON SALE OF UK FAMILY HOME
by EdOD » Thu Feb 22, 2024 2:16 pm in Taxes in Spain: Suma, NIE and general tax advice - 1
- 239
-
by Bee
Tue Mar 26, 2024 11:58 am
-
CAPITAL GAINS TAX ON SALE OF UK FAMILY HOME
-
-
Car Tax (suma)
1, 2 by Brewingdog » Tue Nov 21, 2023 3:50 pm in Quesada general discussion - 12
- 486
-
by Kingy0
Tue Nov 21, 2023 10:46 pm
-
Car Tax (suma)
-
-
Car Tax (suma)
by Brewingdog » Wed Apr 03, 2024 8:34 am in Quesada general discussion - 9
- 376
-
by solwayiceman
Thu Apr 04, 2024 12:26 pm
-
Car Tax (suma)
Return to Insurances, Wills & Abagados/Solicitors in Spain
Who is online
Users browsing this forum: No registered users and 17 guests
Login
Find in Quesada
Quesada pages
Quesada discussion
- Quesada general discussion
- Banking and finances
- Broadband, Wifi, Phone and TV
- Buses and public transport in and around Quesada
- Driving to Spain / Car hire in Spain / Buying and owning a car in Spain
- Fiestas in Quesada
- Flights, baggage and airports
- Health services in Quesada
- Insurances and wills in Spain
- Items for sale and wanted in and around Quesada
- Interesting articles about Spain
- Jobs and careers in Quesada
- Lost and found in Quesada
- Market days
- Places to go for free Wi-Fi
- Recommended restaurants / cafes / bars
- Recommended Tradesmen and Companies
- Residency in Spain: padron, residencia and passport advice
- Safety / security information and property in Spain hints and tips
- Taxes in Spain: Suma, NIE and general tax advice
- Taxis in Quesada
- Things to do and places to go in and around Quesada
- Utilities in Spain: Electric, gas and water recommendations and advice
- Weather in Quesada
- Where to buy things in and around Quesada
- Where to hire things in and around Quesada
Properties discussion
Businesses and places in Quesada
- Bars and pubs in Quesada
- Beaches near Quesada
- Beauticians / Beauty salons in Quesada
- Bedding and soft furnishings shops in Quesada
- Butchers in Quesada
- Car dealers in Quesada: new and used car dealers
- Car garages, mechanics, tyre fitter centres in Quesada
- Car hire in Quesada
- DIY / Bricolage / Ferreteria stores in Quesada
- Equipment hire centers in Quesada
- Estate agents in Quesada
- Furniture shops in Quesada
- Garden centres and garden furniture shops in Quesada
- Golf Courses in Quesada
- Grills / gates / metal items shops in Quesada
- Hairdressers in Quesada
- Hotels, guest houses and bed and breakfasts in Quesada and nearby
- Internet service providers that cover Quesada
- Launderettes / dry cleaners in Quesada
- Markets in Quesada
- Medical / Health centers in Quesada
- Pet shops in Quesada
- Pharmacies / Chemist shops in Quesada
- Restaurants in Quesada
- Shopping centres in Quesada
- Sports centres and gyms in Quesada
- Supermarkets in Quesada
- Swimming pool services in Quesada
- Town Halls (Ayuntamientos) in Quesada
- Waterparks/Aquaparks in Quesada
- TalkQuesada » Board index
- The team • Delete all board cookies • All times are UTC [ DST ]
- Our other websites:
- Costa Blanca forum
- Costa Calida forum
- Costa del Sol forum
- Costa de Almeria forum
- Costa de la Luz forum
- Costa Dorada forum
- Costa Brava forum
- UK forum
- Jobs in the UK
- Our policies:
- Privacy policy
- User agreement
- Content policy
- Website created and operated by JSM Forum Websites