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Im not that sure about the first comment either and the second one you are dead on CGT is if you go back to the UK, but after a certain age you arent liable, but there are various clauses on this
MARIA WHERE ARE YOU.......................................!
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Quite frankly m'dear, I don't give a damn!
www.herbalmarbella.com
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Im not that sure about the first comment either and the second one you are dead on CGT is if you go back to the UK, but after a certain age you arent liable, but there are various clauses on this
MARIA WHERE ARE YOU.......................................!
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Quite frankly m'dear, I don't give a damn!
www.herbalmarbella.com
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Thank you for the link - Always thought 2 but then several other lawyers said 3!! we reinvested outside the 2 years but inside the 3 years, guess we are to expect a 'nice' bill soon!!
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Regards
Sharon
sharon@tmasspain.com
www.themortgageservicegroup.com
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Last year my brother bought a place in Spain. He told both the solicitor and the developer up-front that he would only purchase the property on the basis that there would be no "money under the table" involved. They both agreed to his terms. However, a couple of days before completing the purchase the solicitor informed him that the developer would not sell to him unless he provided an amount of undeclared cash. At that point he had no choice but to agree to the developer's demands because his furniture was paid for in full and was due to be delivered. They get you no matter what!!!
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He aint the first Holly and he wont be the last - it is the lawyers duty to represent the client and ensure that all monies paid are accounted for and that no under declaration occurs unless all parties agree. This is where the conflict of interest situation in Spain is a mockery - how can a lawyer represent two sides impartially where there is disagreement. The lawyer should have stood your brothers corner if he was representing him and threatened developer with report to Hacienda - if he was assertive enough (and believe me there are lawyers out there who do act in the clients interest not the developers - M de C for one) then i have no doubt the developer would have rolled over and done as he was supposed to.
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Smiley - patrick@marbellamortgages.com www.marbellamortgages.com www.comparetravelcash.co.uk
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For anyone buying in 2008, you just do not agree to ' black money' and you make sure that your contract and when you complete that the price stated is the ' full one'
You must make sure that before you sign any contract that there is an English version so you know what you are signing
I must say that for the vast majority of Spanish Lawyers this will not be a problem
it is illegal to pay black money and 'after Madrid' it is going out fast and in 2008 the Spanish version of the Inland Revenue are working hard to stop it!!!
Even if you have agreed off plan that you will have to pay 'black money' I' m relatively sure that ' now' you can re negotiate to pay only legal money.....if only that no builder in the current ' tax' climate in Spain will want to be reported to their IR!!!
Perhaps our EOS Spanish Lawyer...Maria de Castro can comment on the above
There has been enough bad press about buying in Spain and we do not want a UK buyer prosecuted for paying 'black money'
Remember if a Spanish National bought a property in UK with ' black money' [ cash] as part of a deal with a UK builder to avoid tax , in UK our IR would prosecute!!!
This message was last edited by rowlandsbb on 2/13/2008.
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Problem Brian is that there are so many lawyers that will not be assertive with the developer as they do not want to risk upsetting them from the point of view of future business dealings with the developer. Agree with you 100% that this should not be happening and certainly even less so in todays climate - political, market, financial - nonetheless I have had to speak with a lawyer not long ago on behalf of a client and suggest the lawyer take the clients point of view and stand firm against the developer as they were supposed to be representing the client not the developer and in whose interests was it - lawyer presented the argument the client would save on the IVA - BIG DEAL - act in the clients interest and advise them accordingly - if they refuse to complete on full declaration the developer is on breech of contract - threaten them with advising Hacienda and they will back down.
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Smiley - patrick@marbellamortgages.com www.marbellamortgages.com www.comparetravelcash.co.uk
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Smiley
You are on the spot 24/ 7 and I am not being in UK but you must agree that it is changing very fast and any buyer just has to 'take a stand' and very few lawyers and builders will take the risk of not agreeing
I understand that any reputable lawyer will no longer be involved in 'black money' and also will no longer allow their clients to complete without a Licence of First Habitation [HL]
In 2008, after all the bad press [ and past bad practice] these are the two 'basics'
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Is there anything that can be done retrospective with regards to "black money" as I was "hit" when I purchased in 2005. I didn't know about "black money" at the time. I was even "hit" with my mortgage payments. I was supposed to have 1 years fixed rate. This is even in my deeds documentation ~ escritura etc. After 6 months the bank increased the payments. When I queried it, the bank said my lawyer had made a mistake as they don't offer a fixed rate. I showed them my notarised documents and they still insisted there was a mistake. I could never get hold of my lawyer and as I used my property for vacation purposes it was difficult to contact them.
So, if black money is illegal is there anything I can do about my purchase ? It was purchased off plan, so I can now see the connection my lawyer had with the developer.
Kev
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I would also like to know if there is anything I can do about this in retrospect as had to pay 20,000 euros in 'black money' when I purchased in 2006. When I queried it with my lawyer, he told me that it was normal, everyone did this. As I had already spent a considerable amount before this was mentioned I felt I had no choice but to go ahead.
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Better to avoid any publicity on those past mistakes.
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Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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Just thought I would state the fact that black money has not gone away? but only hidden! as mortgages need cash! which is forwarded to the builder? and we were fleeced as we have 2000 euro lost!! Solicitor shrugs his shoulders? and we get no reply to explain, so all doors are closed to us now, and I thought I had sent 3000 euro extra to our solicitor to put in our account with the BBVA, well my trust went way out the Spanish window?
_______________________ Soon to be La Marina!!
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You have to pursue the solicitor. At the end of the day, I assume this is who you paid the money. Maybe Maria deCastro can help?
Kev
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But all went through the solicitor! and I do know the score as Maria is working on another loss from 4 years ago? so who do you trust to fight and look after your interests? just biding our time before I ask Maria to help?
_______________________ Soon to be La Marina!!
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is black money the official term for it?!
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