# Tax Advisor?



## Lolito (Aug 25, 2012)

Hi! Any tax advisor here? I need to ask a question or two, and the more people I talk to, the more confused I end up?! 

I am selling my flat in London? Do I have to pay CGT (Capital Gains Tax) if I use the profit from my sale to buy a house here in Spain? Some people say I do, some people say I don't. 

When I called the HMRC they say I don't have to pay if I buy a house within the next 2 years.... but I have been told it is not true now, so I am not sure now. I know in UK is 28% of your profit, here in Spain is 27% and if I don't pay it in UK (where I should), I would have to pay it here in Spain. !?

I have made an appointment to talk to a 'gestor' but can't see him until the end of the month. 

Anyone knows?


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## Aron (Apr 30, 2013)

End of the month is okay to get the correct information!


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## Lolito (Aug 25, 2012)

I hope so, he is Spanish, although he knows a bit about UK taxes, so hopefully he'll be able to help.


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## Pesky Wesky (May 10, 2009)

Lolito said:


> I hope so, he is Spanish, although he knows a bit about UK taxes, so hopefully he'll be able to help.


Googling capital Gains Tax uk spain I got this
http://www.hmrc.gov.uk/taxtreaties/signed/spain-uk-protocol.pdf
...???
And maybe there's something here
https://www.agenciatributaria.gob.es/AEAT.sede/en_gb/Inicio/Inicio.shtml


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## CapnBilly (Jun 7, 2011)

In Spain when you sell your main residence you receive rollover relief from capital gains providing you reinvest the proceeds within 2 years of the sale. This applies whether your property and/or reinvestment is in Spain or the UK. Any capital gains tax you pay in either country can be offset against a charge in the other. 

However, the key phrase is main residence. If you are a resident in Spain, which you are, and IIRC you have been renting out the property, then it is not your main residence, and subject to capital gains tax in Spain. 

I think I commented last year that the capital gains tax would probably be within your relief and allowances in the UK, on the basis of the information you fave at that time.


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## Lolito (Aug 25, 2012)

Thanks, the reason I ask again is that another Tax Advisor says the 2 years thingy is not longer valid, that rules changed recently and now everybody has to pay it. 

Also, even if that wasn't the case, and I was free of paying CGT because of my allowances in UK, I would still have to pay it in full in Spain. 

I think I will stop asking, as I keep getting different answers, lol!


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