Brexit and rental income tax

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CSE
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Post by CSE »

We are UK citizens who have been resident here since Spain entered the EEC. We are from Scotland that wants to remain in the EEC while the whole of UK is quite definitely on the way out. We live in Catalunya where they want to break away from Spain.
And because of the Catalan independence issue Spain is not willing to talk to Scotland. Thus blocking any attempt for them join the EU.
Another false flag on the Brexit issue.
Never try to out-stubborn your guests.
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kevsboredagain
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Post by kevsboredagain »

Something from my accountant. Another "meddling law" made by those "faceless, unelected bureaucrats in Brussels" which will probably be revoked.

.. there are also some areas of law in Spain that have been directly influenced by the UK’s membership of Europe and may face an about turn in the future.

One of these is that of the tax paid on donations and inheritance in Spain. Recently the European courts required Spain to modify its inheritance and donation tax laws. Previous to this non-residents were charged a much higher level of inheritance tax and donation tax than residents. However, the European court ruled that this was against European law and that Spain must comply.

Now, following Brexit, this protection could be removed from the British when it comes to inheriting or donating their property and goods. Once they are no longer members of the European Union the European laws will no longer apply and Spain will be able to reinstate the differential.

Because of this likely reversion to a higher Spanish inheritance tax and donation tax rate, if you are a non-resident or a resident leaving your estate to a non-resident, you might consider donating now rather than waiting until Britain leaves the EU with all its associated consequences. It could make a big difference to the amount you are able to leave your inheritors.
lorca
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Location: The Axarquia, Spain

Post by lorca »

Yes Kevin, another issue for us to struggle with

Re Scotland....May said yesterday that Article 50 will only be triggered when there is UK-wide agreement. Nicola S has made it extremely clear where she stands on that. Interesting times...
If not now, when?
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