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Poppyseed
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You express your opinions here, sorry but I thought I was free to do the same, especially when I made it clear I was expressing an opinion not a legal fact.
As no one KNOW the answer here, opinions are all that can be expressed.
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I particularly like this bit: "Failure to declare or any errors in any of the 720 online forms will result in a penalty". My God, it must take those poor expats ages to get through seven hundred and twenty forms! 
Our resident "former investigating officer" has told us to "be extremely sceptical about what the papers print", as "It is usually what will sell newspapers" and "If that does not coincide with the truth, the truth usually suffers". However, I believe there may be a case of chickens and eggs to investigate here. Several such articles are appearing in the UK press now, on or after the deadline for the asset reporting. Rather than influencing people's opinions, I suspect they are largely if not entirely based on actual (true) opinions that have already been openly expressed for months now, on not just this but many many other online forums.
Of course, it is all just opinions. Our former investigating officer (just wanted to remind all again) himself says he has "explained my opinion a number of times", but also tells us that his "police experience as a detective investigating major crime" (and no doubt foreign government taxation policies too) means he doesn’t "have to guess, have gut-feelings, use crystal balls, tarot cards etc." like the rest of us. Furthermore, "based on experience" (not tarot cards) he does "not envisage any problem" as a result of this new asset reporting law for any of us decent law abiding citizens here.
I should I suppose feel relieved. But as one of the "deluded people" (every one who does not have police experience presumably) who "often make bogus confessions", I confess that my humble opinion instead coincides with the vast majority.
But that's just me! 
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"Get your facts first, then you can distort them as you please"
Mark Twain
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Johnx -I am surprised you cannot access this article.It is worth reading. Anyone else had a problem accessing it. Costa Blanca News. southern edn, p.31.Under 2 euros!
Can anyone tell me how this law is any help in catching the ex pats living here for years, and never registered on the tax system? It only targets those already paying, and are now worried that any mistake will incur the wrath of the Tax office here, resulting in their savings being wiped out.
One thing I was surprised to learn was that, when declaring property on the assets form, only the aquisitive value was required, if over 50,000 euros. All other values had to be as of 31st December 2012, why not the value of the property, which must have increased many, many times? A house bought for 10,000 years ago might be 250,000 now, and yet they do not want to know the present value of this considerable asset-why? should have thought it would have been very handy when considering world wide assets for IHT!
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One thing I was surprised to learn was that, when declaring property on the assets form, only the aquisitive value was required, if over 50,000 euros. All other values had to be as of 31st December 2012, why not the value of the property, which must have increased many, many times? A house bought for 10,000 years ago might be 250,000 now, and yet they do not want to know the present value of this considerable asset-why? should have thought it would have been very handy when considering world wide assets for IHT!
Evening All,
Not being a member of the po-lice (as they say down South), I can only hazard a guess - and that would not be in the direction of IHT but rather of capital gains tax if/whe you sell it...
Seems logical to me.
Move along now... nothing to see...
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But it is an asset and certainly worth over 50,000 euros now, so why don't they ask for the value now? The way they have done it will ensure that people will get away with not mentioning their UK house elling for an astronomical price!Do the Hacienda really know when someone in Spain sells their UK house?
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Because the differential is greater.
Simple = more CGT!
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But if someone bought a house in UK years ago for 38000, and it is now worth 230000, how will the Hacienda even know about it's existence as it didn't need to be mentioned on the assets form.
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But if someone bought a house in UK years ago for 38000, and it is now worth 230000, how will the Hacienda even know about it's existence as it didn't need to be mentioned on the assets form.
That's just it, Hacienda wont ever know if you don't tell them about your UK house, it's only if and when you got singled out for a tax inspection that it might just crop up, whats the chance of this happening? personal choice really, tell them or don't tell them.
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The mistake everyone is making is trying to look at this legislation logically. It must be remembered that it was devised by self-serving politicians. All we need to do is try to figure out what devious intentions they have, but we can be sure logic does not come into the equation.
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"Get your facts first, then you can distort them as you please"
Mark Twain
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does anyone know what the approximate charge is from a
gestor/solicitor for completing the forms for the reporting
of assets outside of spain.
The info is for a friend who does not have online facilities .
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Seems to vary 50-70 euros is what I've heard-mine is 60e
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Formentera,
The dead-line for reporting is 30th March each year, although this year they extended it for a month.
My friend paid 75 euros with a gestor. I would expect a solicitor to more expensive. I am still to pick up the paperwork, but I understand that it depends on the amount of work which was involved.
This message was last edited by johnzx on 21/05/2013.
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I read on the front page of the southern edition of the Costa Blanca News, about the first "victim"of the Assets law. It's about a man getting a bill for 30,000 euros , capital gains tax, on the sale this year of his UK house. surely this isn't a fine, it's a bill he should have paid anyway?The assets law brought it it to light, so really it's not a case of first victim, but for the Hacienda its a victory! I think the man was surprised to get this bill because he does not own property in Spain, but the tax office deemed the house in UK as his second home, a fact which he was not aware of when he dutifully declared the sale on his assets outside Spain form! I see many worried people in Spain!
There is also an article about the progress of the protest against the format of the law with its disproportionate fines for incomplete infoetc. It can be read on CBS online.
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Campo
............................................ a fact which he was not aware of when he dutifully declared the sale on his assets outside Spain form! I see many worried people in Spain!
Not sure how he did that.
As I understand it, please correct me if I am wrong, he was required to state what bank accounts he had ( in addition to property which he actually owned at 31.12.12 and shares etc). OK the amount in an account may have been from the sale of a house, but how did they know? When I declared my bank accounts it was just the sums and averages, not where the cash had come from.
I think the man was surprised to get this bill because he does not own property in Spain, but the tax office deemed the house in UK as his second home
I don’t think that is so. If it is generally as you have said, and the man is tax resident in Spain, then it was the capital gains tax, on the gain, just as it would have been on a property sold in Spain (regardless of whether he had another property in Spain or not) which was not rolled over within two years. That might explain why he paid just capital gains tax and not a fine as well.
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Surely he had to state a house sale individually on the assets form?
Anyway, better to read the article yourself. I did find it rather confusing!
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Campo. I assume that one needs to buy the paper or subscribe to be able to read the article. If not can you give us the web address please
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Yes, you do have to subscribe to read the article in full, but it's only 1.95 euros to buy the southern edition of CBN! Theres lots of other articles of interest, so it's worth buying.
In regard to newspapers, this weeks Round Town News had an interesting comment about the assets law, by the motoring correspondent, Brian Deller. I bet he didn't really mean it!
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As i've just said,you have to either subscribe to online CBN, or buy the paper!
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