Talk Quesada forum

Thanks for the replies. I have a neighbour who thankfully will look after the keys/house keeping. Yes dealing with a uk based property company may be easier. I presume all money is just declared to the Hmrc at this end and tax has to be deducted from any profit.

I’ll try a uk agency to market it at this end and sort out registering the property at the post office and also any insurance i need.

Appreciate all the help on this, and any other nuggets of advice you have!

Spoken wrote:Thanks for the replies. I have a neighbour who thankfully will look after the keys/house keeping. Yes dealing with a uk based property company may be easier. I presume all money is just declared to the Hmrc at this end and tax has to be deducted from any profit.

I’ll try a uk agency to market it at this end and sort out registering the property at the post office and also any insurance i need.

Appreciate all the help on this, and any other nuggets of advice you have!

Any income from renting a property in Spain has to be declared quarterly on Tax Form 210 in Spain, not in the UK. We use SpanishTaxForms.co.uk to fill out our returns for us.
You need to work out your costs on a daily basis and multiply that by the number of days the property is rented out in any particular quarter and that gets deducted from any income for the quarter before the tax is worked out. It's easier to get someone to do the paperwork for you at least to start with. You dont need to declare it to the HMRC as far as I know as they get notified by the Spanish authorities anyway.

TonTri wrote:You dont need to declare it to the HMRC as far as I know as they get notified by the Spanish authorities anyway.

Incorrect.

You DO need to declare it to the HMRC, because you have a duty to complete a self-assessment form as you are receiving income from foreign property.

Thanks Dottyp, I didnt know that. I've never been sent a self-assessment form always been PAYE, although I now live on a small annual pension. We dont get taxed on it again do we?

You won't be sent a self assessment form.

It is (and always has been) your responsibility to request one, or to register on the Government Gateway and do it online.

You're only taxed once.

You've missed the 2016/17 deadline though...January 31st. You might want to contact them to see what you need to do.

dottyp53 wrote:You won't be sent a self assessment form.

It is (and always has been) your responsibility to request one, or to register on the Government Gateway and do it online.

You're only taxed once.

You've missed the 2016/17 deadline though...January 31st. You might want to contact them to see what you need to do.

I've already checked on 2016/2017 and seeing as we didnt purchase the apartment until December 13th 2016 our tax advisors have said it is easier to add it on this year's return. We're registered on the Government Gateway and do all our income tax allowances/coding etc through there, I will have to take a look at self-assessment forms though. Cheers.

As long as you didn't earn any foreign income between 6th April 2016 and 5th April 2017, you should be OK.

If your property is jointly owned, then don't forget that you'll both need to do the self assessment.