Talk Quesada forum

Hello,

Can anyone tell me with any certainty what the individual tax allowances are before you are obliged to mention it on the annual tax return. For example, if some one gave me a cash amount as a gift, how much could that amount be without the need to declare or pay tax on it?

Or what about if someone gave me a car worth 10k for arguments sake?

In addition, does anyone have any recommendations for specialists in this area that are clued up as well as reasonably priced?

Thanks in advance

Impuestos Sobre Donacionesexplained.

This might help. If you read it, you can see it depends on the relationship to you and the person making the gift.

There's also this one ISD which explains more the relationship and tax allowances.

Thanks Marcliff i'l take a look.

We use Abaco, I'm sure Jan would also recommend them - there website is very informative:

http://www.abacoadvisers.com/

You can book a 1 hour free consultation with one of their tax advisors, in which they'll take you through the process and advise you of the various thresholds and allowances, including whether your particular circumstances would make it more cost effective for you to do an individual tax return, or a joint one (if you have a partner). They speak English. They charge Eu 144 per year to handle our tax affairs, including preparing and submitting our tax returns.

Paulr wrote:We use Abaco, I'm sure Jan would also recommend them - there website is very informative:

http://www.abacoadvisers.com/

You can book a 1 hour free consultation with one of their tax advisors, in which they'll take you through the process and advise you of the various thresholds and allowances, including whether your particular circumstances would make it more cost effective for you to do an individual tax return, or a joint one (if you have a partner). They speak English. They charge Eu 144 per year to handle our tax affairs, including preparing and submitting our tax returns.

Thanks Paulr i think i will have to make an appointment with them or someone like them. I need to look into it further as my lawyer said it's between 13-14k. Not sure how he got this figure after looking at the links but i am reluctant to doubt what he's saying.