New Rules on Plus Valia
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I would be grateful for any help with rules on Plus Valia. We sold our propery in the Costa Del Sol on the 10th October 2021. This was the day the new Plus Valia tax was reinstated. We made a loss. My lawyer electronically filed the necessary forms. He kept a retention of nearly 6k in his Escrow account until he was indemnified of all charges ( he had POA). He has agreed to pay this back to us 1 year later, but has warned me that we may be liable i quote
"Please be advised you will be held liable with all your assets, including UK ones, to pay what is due in taxes to your town hall."
The document was filed correctly - we made a loss. I am in contact with the Town Hall - is there a document they issue to say we are free from all tax charges ? Is the above statemnet true? Why would we get taxed on our UK assests?
Any help much appreciated.
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He is just covering his backside, just accept your 6k and forget about it.
_______________________ There is enough in the world for everyone, but not enough for the greedy!
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When you say you are liable to pay tax on your UK 🇬🇧 accets..to the Spanish government...then this is correct if you had been a resident and registered as a Spanish Tax payer's..I am a UK Tax resident i owned 2 property's in Spain I sold one at break even price ..the solicitor held a 3 % retention to pay any outstanding debts that .might turn up for a period of six months..we applied and got our 3% back in full...if I was you I would apply for your retention...take the money and run.
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Thank you for the replies. We are UK resident. We made a loss. He is paying out money in our account today. As far my limited knowledge goes, we should not have to pay Plus valia due to the loss. We will apply to get the 3% returned ourselves. Should have been part of the conveyencing service that his firm offers, but he has forgotten about that and is not true to his website. No surprise there - !
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Perhaps clients should have a retention on lawyer’s fees until a case is fully completed.
_______________________ There is enough in the world for everyone, but not enough for the greedy!
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