Financial advice in Spain
Latest articles about Financial advice in Spain
For people who have a second home in Spain, it’s often necessary to send money there to pay bills, taxes and other living expenses that come with being an expat, but you don’t want the banks and money transfer companies to take advantage of you with inflated exchange rates and fees.
With the change of government, the region of Andalusia approved a new set of inheritance laws on the 11th of April 2019 which drastically reduce, or even suppress, Inheritance & Gift tax.
On Monday 17th June 2019, a new mortgage law came into force in Spain, having arrived late and with many changes, such as an article that is generating a lot of uncertainty in the Spanish real estate sector.
On buying a home in Spain, the first point is to determine whether you are buying new build (off-plan or sobre plano, in Spanish) or else a resale (second-hand property or reventa, in Spanish). Two different sets of taxes apply depending on which property type you acquire.
The Santander bank in Spain wants to attract more expat customers with a new plan that offers all kinds of products and services, from a specialist bank account to a non-resident mortgage, and even pet care.
Good news for anyone with a rent-to-own property in Spain – the Spanish Supreme Court has declared in a recent ruling that money paid for a rent-to-buy home scheme is tax deductible in the IRPF tax declaration for investment in property.
Taxpayers in Spain can already consult their tax data online or on the Agencia Tributaria app for the Spanish tax office, and as of 2nd April 2019 have been able to file their 2018 IRPF tax returns.
Brexit drags on and keeps hogging all the headlines almost three years after the referendum. For months, the date 29th March 2019 was marked in red on everyone’s calendar, but now there’s going to be a new Brexit deadline. We just don’t know when it will be yet and we may see more delays.
Andalusia’s centre-left wing party was ousted from power last December after 37 years in control. With the turn of tide, the new centre-right wing ruling coalition agreed in Seville to abolish inheritance tax in Andalusia.
What is the 720 tax form?
Form 720, in Spanish ‘Modelo 720’, is a declaration of overseas assets held outside of Spain. This includes details about: bank accounts in financial entities abroad
If there is one thing that characterises the building tradition in Spain, it is the well-known and much feared cost overruns. Many Spanish people consider it 'normal' that building work ends up going over budget, regardless of what is being built.
When a taxpayer sells a home in Spain, they are obliged to pay the infamous municipal capital gains tax (called the plusvalía municipal in Spanish) unless they have incurred losses from the transfer.