Hi

Advice please.

I am a resident here in Spain and I am selling my house (primary dwelling for 4 years) and moving away from Spain.

On completion of the sale I intend to take all my money back to UK to buy a flat.

Am I right to think that I need to file a tax return within the next two years and declare and pay my capital gains on the sale of the house.

Will I come up against a problem taking the money out of the country because without this I will not be able to buy anything back in the UK?

Thanks

get them to pay so money under the table lol

If you are over 65 and have been tax resident in Spain and you have lived in the property for over 3 years there is no capital gains liability.

If you are under 65 and the other factors are the same you are entitled to roll over relief provide you buy your new main residence within 2 years-

If you have not been tax resident then there will be a 5% withholding tax on the sale proceeds - then you may need to file to get some of that money back!

In the case of a non-resident the witholding tax is now 3% having been lowered from 5%. That said, you are similarly still required to file a CGT return following sale and either pay the difference or apply for a refund of all or part of the monies retained.

G Moran
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Thanks Gyln for update.

Of course if you are happy with the 3%, no longer in Spain there isn’t much anyone can do to make you fill in any more forms!
The point of the withholding tax was to stop avoidance but people leaving the country.