Capital gains tax

If you have lived in a property for 3 year, have been legally resident for that period and are 65 or over, then you are exempt from capital gains tax on the property-

Thanks for your reply.
My husband is 65 but I am 60. The house is in both our names.

I had not thought about joint ownership but as only one of you seems to comply with the requirements I would think that the other cannot be excempt

That's what I thought.
Thanks very much.

Might put the house in your husband's name before selling it, then declare your taxes separately. Probably should run that idea by an accountant.

You do not pay any if you reinvest your money from your principal home (in Spain) in another principal home (within the EU). Note; you must reinvest all this money.
How the Spanish retain and then release the money when you purchase another property is a mystery.


Who knows what the law will do once the UK leaves the EU. Maybe it will revert to the exiting ones who are non EU citizens.

The law in spain re capital gains tax does not depend on the nationality of the property owner but residency or non residency.   That is,   being an EU national or not, does not affect the rules

Thus BREXIT if,  when,  or how it happens,  should have no effect whatsoever

Johncar wrote:

The law in spain re capital gains tax does not depend on the nationality of the property owner but residency or non residency.   That is,   being an EU national or not, does not affect the rules

Thus BREXIT if,  when,  or how it happens,  should have no effect whatsoever

Maybe this is all wrong then.
https://www.spanishpropertyinsight.com/ … er-assets/
From that article

Capital Gains Tax on Spanish Real Estate

The following only applies to E.E.A. and EU-residents. Residents from outside the European Union pay 24% in general (there are some exceptions).

and this one too.
https://www.citizensadvice.org.es/faq/w … -property/

Just found out that any fiscal resident who has lived in Spain for more than 3 years and only owns 1 property does not pay capital gains tax despite their age.

Frimley. Could you please post the source of that information as I am positive it is wrong

Thanks

I checked with our estate agent and lawyer.

I am positive that info is not correct.

If that rule had changed it would have been headlines

If you are thinking of going along with it,  get it in writing from the lawyer, so you can take action against him/her when you find the info is wrong.

Taka look here and search the internet:-

https://www.blevinsfranks.com/news/blev … -tax-spain

and here

http://www.abacoadvisers.com/spain-expl … x-in-spain