Then why not investigate purchasing in a UK Limited Company structure. Purchasing your property in
There are many owners who have contacted us and said they arrived in
Wincham Consultants Limited is a Spanish Tax Consultancy and can assist clients who have just located a property to purchase or are about to place a deposit on a new build. Before you commit yourself to the property we will provide you with an Illustration, free of charge, which will inform you of the potential Spanish Inheritance Tax liabilities should you purchase in you own name/s and detail an alternative method of ownership using a UK Limited Company structure.
Not only can we identify the pitfalls of owning in your own name but we will act on your behalf in respect of the purchase into a UK Company and include all necessary searches of the property, to ensure that there are no issues attached to the property, and all legal work required to effect a safe and legal registration of the property.
If the property is purchased in the owner’s names then they are legally obliged to submit annual Tax declarations in
Purchasing the property in a UK Limited company means there is no requirement for the owners to submit annual personal Tax Declarations in
Not only is it no longer necessary to submit personal Tax Declarations but there is no necessity for a Spanish Will as a correctly written British Will covers a British subjects world wide assets including the shares and assets of a UK Company. The ownership of a Spanish property in a UK Limited company brings the asset under
Should you wish to sell the property in the future then there are 2 methods of doing so as the property can be sold independently by the Company or the shares in the Company can be sold to the purchaser which may save the 7% Transfer Tax for the buyer and 3% Withholding Tax to the seller. Another advantage of selling the shares/company is any Directors loans which have been built over time to fund the running costs of the Company and property may be withdrawn first of all on sale Tax free.
So before you complete your purchase in
Wincham has offices located in the
This information has been provided by Mark Roach, Company Director and Spanish Tax Consultant.