Talk Quesada forum

As a non resident, Sabadell also recently requested my Tax Ref number. I am reliably informed that this has a lot to do with money laundering issues. Nothing to hide, so no need to worry (for now)

I think you will find that every 2 years you will be asked to furnish income details, otherwise your account will be frozen, yes due to money laundering, also max cash payment to businesses is €1000.

I wasn't suggesting anyone was deliberately hiding info!

Sabadell (and La Caixa, and Santander et al!) DO know who you bank with in the UK, as that information is shared.

HMRC-wise...if you receive any income from your foreign property, then you have to fill in a UK tax return.

Not entirely sure whether you need to declare the asset on a return if you don't receive any income.

Najizan123 do you know if the HMRC contact us to fill in a tax return or if we are supposed to ask them for one?

This is our first year of owning a property in Spain and we are renting our apartment out in the summer months and have paid all Spanish tax up to date. We are both retired so dont usually have much contact with HMRC let alone fill in any tax returns.

It is your responsibility to declare any income to HMRC, so you would need to fill in a self assessment form. You can do that via the Government Gateway.

HTH!

Cheers Najizan. As I said we have paid all our taxes so dont have anything to worry about, but I just wonder how many people voluntarily actually inform HMRC.

EU Directive. Part of the so called crack down on money laundering.
Of course directed at us, the soft targets! Can you imagine the big boys sending illicit money by bank transfer? Bloody bureauprats.

Any one with a large sum would use bitcoin or one of other crypto currencies ...untraceable..!!!!!!!!!!

Whether you are tax resident or not, information will be exchanged between banks in UK & Spain. Be prepared to give your information when requested. Shouldn't be a problem for most of us!