What Happens When a Mortgage Holder Dies? What British Property Owners in Tenerife Need to Know
Introduction When a mortgage holder dies, many families assume the debt simply disappears. Unfortunately, this is not the case. In Spain, the death of one of the signatories does not extinguish the mortgage or the obligation to pay. The mortgage debt remains legally enforceable, and responsibility for repayment continues. This issue becomes particularly important for […]
Plusvalía Tax in Spain: What British Property Sellers Need to Know
Plusvalía is a local Spanish tax that applies when selling property and is often misunderstood by British sellers. Learn how Plusvalía tax is calculated, who pays it, and how it is handled at the notary when selling property in Spain.
Recovering the 3 Percent Retention on Spanish Property Sales
When non-residents sell property in Spain, 3% of the sale price is automatically withheld by the Spanish tax authorities. This guide explains why the retention applies, when you can reclaim it, which tax forms are required, and why British sellers often face delays, helping you recover funds with fewer complications.
Understanding Capital Gains Tax (CGT) on Spanish Property for British Owners in the Canary Islands
Capital Gains Tax on Spanish property can come as a surprise to British owners, particularly in the Canary Islands. This guide explains how CGT is calculated, how planning and accurate records can reduce the tax due, and why many British sellers need extra support to avoid costly mistakes.
Understanding the Complexities of Canarian IHT and CGT for British Families in Tenerife, Spain
Inheritance and property sales in Tenerife involve Canarian inheritance tax rules, strict deadlines, and potential Capital Gains Tax. This guide explains how British families can benefit from generous allowances, meet key filing deadlines, and avoid costly mistakes when handling IHT and CGT in the Canary Islands.