Need to pay CGT

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11 Jun 2014 8:39 PM by timk Star rating. 1 posts Send private message

I had a villa in Spain/Estepona and sold it in 2012, but never paid CGT

I now live in GB and would like to settle my tax which I run away from

Can anyone help me with contact details where to start paying CGT in Estepona?

 

Thanks Tim





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12 Jun 2014 8:25 AM by johnzx Star rating in Spain. 5242 posts Send private message

Timk,

                           I did not pay CGT several years ago because of wrong advice from a gestor. When I later discovered the error I spoke to an accountant. I said I wanted to pay the sum.

His advice was; that Hacienda had a standard fine for late disclosure. I cannot remember the actual figure but it was very large and it was not negotiable. He said, if Hacienda discovered I had not paid, then the fine would be smaller and very negotiable. And of course if the error is not discovered for 5 clear years (maybe 4) then they cannot demand payment.


This message was last edited by johnzx on 12/06/2014.



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12 Jun 2014 1:36 PM by baz1946 Star rating. 2327 posts Send private message

I had a villa in Spain/Estepona and sold it in 2012, but never paid CGT

I now live in GB and would like to settle my tax which I run away from

Can anyone help me with contact details where to start paying CGT in Estepona?

 

You need the correct advice from someone who knows the Spanish laws on tax and deals with these taxe's, like a tax advisor, accountant, solicitor, etc. They should know who to deal with in Estepona.

Why?...Because in 2012 when you never paid your CGT, lets say of 1000€'s for the sake of it, on a 100,000€ sold, maybe declared price house sale, the tax man might say, "We value it at a higher price then you do" so isn't it feasible they might want considerable more.

The Spanish tax man in effect can go back 7 years, or very much longer if he thought for one moment that what you did was to defraud them, also he can fine you for every year they could go back on any unpaid amounts.

As I said get the proper and correct advice from those who really do know...Not mine.





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12 Jun 2014 1:59 PM by mariadecastro Star rating in Algeciras (Cadiz). 9419 posts Send private message


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Maria L. de Castro, JD, MA

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Director www.costaluzlawyers.es

El blog de Maria



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