Property and Legal Advice

Information on buying & selling a property in Spain plus legal advice on the key issues of living and working in the Axarquia

MODELO 720

All those tax residents in Spain, (i.e.:-those living in Spain for more than 183 days a year or when Spain is the main base for your business), should be aware that as a result of legislation passed on 29th October, 2012 for the prevention and control fraud, all natural or legal persons resident in Spain who have any assets outside of Spain with a value of €50,000 or more, are required to submit this declaration form to the Spanish authorities.

This declaration can be made on line, through the Tax Office`s web page www.agenciatributaria.es 
where the Modelo 720 (Statement of Assets Outside Spain) can be located and completed. It must be filed between January 1 and March 31, of the first year of residence, to avoid being investigated or fined by the Spanish authorities.

ARE YOU A VICTIM OF A CAR ACCIDENT?

Victims of traffic accidents are usually entitled to some kind of compensation. 

The compensation comes under two categories Firstly, Physical Damage, which covers the right for damages due to personal injuries sustained by any of the parties involved in the accident, , i.e. drivers, passengers or pedestrians. Secondly, Material Damage, which covers any damage caused to vehicles or other objects involved in the accident.  Personal Compensation can be claimed both for

TIME TO UPDATE YOUR WILL IN SPAIN

Many of our clients ask us whether or not it would be advisable to make a new Will, when many years have passed since the signing of the last one or when their circumstances have changed considerably since their last Will was made.

Our advice is that whenever personal circumstances, or the situation with any of the testator's property, have changed significantly, it is appropriate to grant a new Will. By signing an updated Will, you can avoid later disputes between your

RURAL HOLIDAY ACCOMODATION

According to the Spanish Law 20/2002, approved on January 29, 2002, by the Junta de Andalucía regarding Tourism in Rural Areas, if you own a property in the countryside and want to rent it, you must comply with the following conditions:

· Properties are considered to come under this law if they are located in the countryside in an area where the population centers do not exceed 20,000 inhabitants, and when they are not on the coast.

NOW YOU CAN CLAIM PLUSVALIA TAX

News about the “Plusvalia Tax” charged by Municipal Town Halls has been flooding the newspapers and the television.
 
According to the Spanish Constitutional Court judgment on 16th February 2017 the “Plusvalia Tax” that has been charged on real estate transfers where no enrichment of assets has been achieved, is considered to be unconstitutional, as it cannot be justified that it concurs with its purpose when there is no real increase in the value of the land. 
 
Below we itemise the basic points relating to this Municipal Tax:- 
 
What is “Plusvalia” and how is it calculated?
 
It is a tax based on the increase in the value of urban land. It is a Local Council Tax and is calculated using the cadastral value, which appears on the IBI (rates) receipt. Even if you own an apartment in a block where you have no land, you would be liable to pay proportionally for your share of the land on which the whole block or urbanization is built.

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