Taxes on selling second home in Spain wth the first one also being in Spain
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Taxes on selling second home in Spain wth the first one also being in Spain
I am about to sell a second house in Spain. It is not my main residence but is used regularly. Is there an additional tax to pay on selling the property?
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Re: Taxes on selling second home in Spain wth the first one also being in Spain
So, I guess, like me, no one knows.
- chrissiehope
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Re: Taxes on selling second home in Spain wth the first one also being in Spain
Hacienda ?
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Re: Taxes on selling second home in Spain wth the first one also being in Spain
Additional to what? You would pay CGT. Buyer the transfer tax.
Sid
Sid
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Re: Taxes on selling second home in Spain wth the first one also being in Spain
Only CGT? What if the profits (tiny) were rolled over into another property? Is the CGT waived?
- Enrique
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Re: Taxes on selling second home in Spain wth the first one also being in Spain
Hi Lavanda,
"Only CGT? What if the profits (tiny) were rolled over into another property? Is the CGT waived?"...... if you could prove it was your Primary residence
Also there is a age exemption........ 65
You need a Tax Lawyer to get best options for you ..............
"Only CGT? What if the profits (tiny) were rolled over into another property? Is the CGT waived?"...... if you could prove it was your Primary residence
Also there is a age exemption........ 65
You need a Tax Lawyer to get best options for you ..............
All my best learning experiences start with a problem I need to solve.
Re: Taxes on selling second home in Spain wth the first one also being in Spain
Hi Lavanda, this may help
https://www.idealista.com/en/news/prope ... in-in-2023
The plus valia has to be paid withing 30 days so beware!!!
I cannot be specific on how much the taxes are as they vary from town to town.
Age exemption only on primary property and I do not thin roll over applies on second properties either....
https://www.idealista.com/en/news/prope ... in-in-2023
The plus valia has to be paid withing 30 days so beware!!!
I cannot be specific on how much the taxes are as they vary from town to town.
Age exemption only on primary property and I do not thin roll over applies on second properties either....
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Re: Taxes on selling second home in Spain wth the first one also being in Spain
You don’t need a tax lawyer There are no exemptions on second homes. There are exemptions on your main home if you reinvest the sale proceeds or are over 65 and the property has been your habitual residence for over 3 years.
You don’t need a lawyer to tell you that.
Sid
You don’t need a lawyer to tell you that.
Sid
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Re: Taxes on selling second home in Spain wth the first one also being in Spain
Thank you all very much. In my case I will have to bite the bullet and pay the CGT but it will be small.
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