# Capital Gains Tax



## rudders (Apr 8, 2008)

Hi, Do you pay the 18% capital Gains tax when you sell a property regardless of whether it is the only property you own, or just if its your second property you own (I already own a property in the UK). What happens to the 40% uk capital gains tax, is this irrelevant if you have paid the spanish 18%?


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## Stravinsky (Aug 12, 2007)

Its payable on the profit on the property you own in Spain, yes, unless you're over retirement age


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## STalbot101 (Apr 7, 2008)

Hi Rudders, if you put your Spanish property in a UK limited company, and put expenses through the company, then you only have to pay 9% capital gains tax in the UK.


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## Stravinsky (Aug 12, 2007)

STalbot101 said:


> Hi Rudders, if you put your Spanish property in a UK limited company, and put expenses through the company, then you only have to pay 9% capital gains tax in the UK.



I'm not doubting you ...... but I'm just wondering why the combined efforts of an International tax company, a UK accountant, and my Spanish Gestor have never percieved this as a way to circumvent IHT?


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## STalbot101 (Apr 7, 2008)

Stravinsky said:


> I'm not doubting you ...... but I'm just wondering why the combined efforts of an International tax company, a UK accountant, and my Spanish Gestor have never percieved this as a way to circumvent IHT?


because UK and Spanish professioanls cannot advise outside of their national jurisdiction, this is a brand new concept that is not that well known. Plus, they want to advise you because otherwise there would be nothing in it for them !


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## Stravinsky (Aug 12, 2007)

STalbot101 said:


> because UK and Spanish professioanls cannot advise outside of their national jurisdiction, this is a brand new concept that is not that well known. Plus, they want to advise you because otherwise there would be nothing in it for them !


Yes, but I included International tax consultants .... they have people who specialise presumably in both countries.


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