Britons in line for millions in Spanish tax rebates
Thousands for Britons could be in line for a slice of ?50 million rebate on CGT from selling their Spanish property
Thousands of Britons who made capital gains when selling their Spanish
properties could be in line for a 20% tax rebate because foreign non-residents
were charged a higher rate than Spanish nationals.
According to Spanish lawyers Costa, Alvarez, Manglano & Associates this
would contravene the European Community Treaty,
Foreigners who sold their homes in Spain before rule changes last year were
charged the Spanish non-residents’ income tax rate of 35% on any capital gains
instead of the Spanish flat rate of 15%.
An estimated 4500 Britons in addition to thousands more residents in other
European countries can now to try and reclaim the difference from the Spanish
authorities, plus interest, in what could be the biggest class action against
the Spanish government in years.