Sorry-another 720....
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Re: Sorry-another 720....
My accountant informed me that, following a phone call to the Hacienda, about an account that had been closed, and another one of the same type started, although with a different account number, I did NOT have to resubmit this year;I wonder how many have submitted, but didn't need to? I see in other posts some querying the wisdom of what employees have said;at the end of the day we trust our accountant to do the right thing;if that accountant has then checked with the tax office, we cannot go round and round checking and re checking with different professionals.It's already a nightmare! I agree with Superplonk that this law has been badly implemented , with so much conflicting advice, causing so much worry to people who came to Spain to live a less stressful life.I'm more stressed than I have ever been!
Re: Sorry-another 720....
This is the text of the advice I received:
Hi Brian
OK, now I have clarification on this point.
If you close a bank account which was declared in a previous asset declaration, it is necessary to present a return for the year of closing giving the date of closing and the value immediately before closing.
This applies even when the funds are transferred to a new account with the same bank.
However, it is not necessary to declare all the other accounts in the same category unless your total bank accounts have increased by €20,000 during the year.
Hi Brian
OK, now I have clarification on this point.
If you close a bank account which was declared in a previous asset declaration, it is necessary to present a return for the year of closing giving the date of closing and the value immediately before closing.
This applies even when the funds are transferred to a new account with the same bank.
However, it is not necessary to declare all the other accounts in the same category unless your total bank accounts have increased by €20,000 during the year.
Brian.
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Re: Sorry-another 720....
This (rafiki) is also my understanding.
Re: Sorry-another 720....
But, as I read it, that is not what you wrote earlier as advice from your call to the Hacienda.
Brian.
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Re: Sorry-another 720....
No. You have to declare all elements of a changed asset class, but not those of an unchanged class.
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Re: Sorry-another 720....
Sorry, that's confusing. I confirm that my last message is what they told me. It differs slightly from what you have been told. Account closures definitely have to be included.
Re: Sorry-another 720....
Infoseeker,IMHO the advice from your accountant is not correct.
Re: Sorry-another 720....
Superplonk. That is exactly what my advice says; it differs from yours in that my advice is that only changes need be included this year. As I read your post you are saying everything else in a class declared but unchanged must also be included in this years declaration.
Brian.
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Re: Sorry-another 720....
Well, the deadline is soon up, it's been nice knowing you, please send me a food parcel in Jail!
Re: Sorry-another 720....
Looks like we don't need the help of hacienda nor accountants to get confused,we are capable of confusing ourselves!
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Re: Sorry-another 720....
The form has actually changed during the period it has been available for submission. The latest (and clearest) version now has the option in Origen de Bien for "item already declared last year". There are other options scattered around for you to give details of closed accounts. They plainly want that information, otherwise why bother asking?
Re: Sorry-another 720....
Just about on topic I think. I occasionally watch a CAB group on Facebook run by a very knowledgeable expat lady. It covers a lot of the stuff we chew the fat about here. There are about 7500 members in the group asking all the usual questions but not a single question about Modelo 720 recently! Makes you wonder doesn't it!
Brian.
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Re: Sorry-another 720....
So why bother having an accountant?I supplied details of the accounts which have changed, and the answer was as I wrote earlier, which was sent to me after consulting with the tax office.Apparently the changes were so slight as not to require declaring.
Do people on this forum think they know better than both the accountants and the tax office?
Do people on this forum think they know better than both the accountants and the tax office?
Re: Sorry-another 720....
You can do it without an accountant,by reading the info on the aeat website.
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Re: Sorry-another 720....
As well as my phonecall recording we can use this thread as dated proof of our efforts to do the thing properly.
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Re: Sorry-another 720....
The whole point of having one was , that by having an accountant, we could be sure the thing was done properly.Very few, I imagine, want to do it themselves.eazbak wrote:You can do it without an accountant,by reading the info on the aeat website.
Re: Sorry-another 720....
What makes you think an Accountant in Spain will do it properly. They will have scarpered if they are found to have given wrong advice
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Re: Sorry-another 720....
Thousands of expats go to accountants in the hope that they will sort their tax affairs so that they don' t have to worry themselves. My own accountant is well established and respected; if I can' t trust her, who do I, and thousands of others, trust?
Re: Sorry-another 720....
You can trust me...honest!
Re: Sorry-another 720....
Mine is a well established local accountant who charged me 30 Euro for the 720, and charges not much more for the annual tax return. Money well-spent as far as I am concerned.
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