Finally we have good news for those who have or will have to submit inheritance tax in Andalusia. The changes came in two sets of laws. First one in August 2016 and second in January 2017. Basically, these changes benefit bigger estates more than before by increasing the exemption for your main home and also increasing the threshold where you start paying.
We are frequently asked what will happen with Public Health care when Brexit comes for all those Brits living in Spain and to be honest nobody is sure of what would happen.
What I can certainly say is that with the actual Spanish Law, those Brits registered as residents in Spain earning less than 100.ooo€ are entitled to get health care for free, as follows:
Are you are one of those retired residents in Spain getting income coming from your country of origin and think that due to that you pay your taxes there, you are free of submitting any income tax in Spain? If you are in this situation I must tell that you are not doing your things correct.
If you are tax resident in Spain, you will be liable to pay Spanish taxes on your income and assets and will need to file a Spanish tax return.
One thing that Im frequently asked relates to tax residency. People living in Spain think that because they are paying their taxes back in their countries of origin, they are in peace with the tax office in Spain, but this is not truth..
You can only be treated as tax resident in one country or another, and due to this you will just pay your income tax just in one country.
I am sure you have all heard of the
infamous “floor clauses” (“cláusulas suelo”) contained in Spanish mortgage contracts. However, as much as I am sure you have heard I am just as sure that you are not entirely clear on what they are or what they entail. This confusion, which already exists in the Spanish community and more so in the foreign community, is due to huge amount of contradictory, and sometimes outright false, information spread by the media. Though I must admit this is not helped by the zigzag course taken in Spanish judicial precedent.
I hope this post will help to clarify the situation and any doubts you may have as to whether they could apply to you.
I am sure many readers will have come across situations in Spain where the surface area of a
property registered at the Land Registry does not correspond with the reality. Up until fairly recently it was common practice, particularly in rural areas, to reduce the surface area of the property in the deed, when transferring the property, in order to pay less tax on the transfer. This has resulted in a large amount of properties, extended across the country, which are incorrectly registered in the Land Registry.
This detail is something that must be seriously considered when buying property in Spain.
As every foreigner living in Spain is more than aware, Spain has been receiving a lot of media attention for its large amount of illegally constructed properties extended all over the country, and the attempts being made by local and regional governments to facilitate the legalisation of said constructions.
This post applies to properties built on both urban and rustic land in the region of Andalucía, as the details can vary from one autonomous region to another.