Tax on foreign savings and properties

[Daventry]

Good morning,

My wife has just inherited some properties in Spain along with a deposit account which has some interest paid into.

The properties are not rented out for now although she's planning to sell one of them.

In terms of tax - what should she do now? Fill a SATR in the UK? In Spain?

We're both spanish but we live and work in London.

I have found this link - HM Revenue & Customs: Double taxation agreements - an introduction - and my understanding is that he just have to declare the paid tax on a SATR. Am I right?

Should she need help to fill a SATR - can anyone recommend an account who would help on this matter?

My current one won't help because they only work with their own clients - i.e people with Ltd co. paying monthly fee.

Thanks

[Martin at NixonWilliams]

Hi Daventry,

If your wife works and lives in the UK then she will have to complete a UK SATR. It is likely that she will need to complete a return (or other form of declaration) in Spain aswell, you will need to seek further advice on this.

Note that double tax relief will be available for any tax paid twice on the gain (in the UK and Spain).

Most accountants will be able to assist you with the tax return.

I hope this helps.

Martin

[Daventry]

Hi Daventry,

If your wife works and lives in the UK then she will have to complete a UK SATR. It is likely that she will need to complete a return (or other form of declaration) in Spain aswell, you will need to seek further advice on this.

Note that double tax relief will be available for any tax paid twice on the gain (in the UK and Spain).

Most accountants will be able to assist you with the tax return.

I hope this helps.

Martin

Makes sense, thanks. Does Nixon Williams take on clients just for annual SATR's ?

Regards.

[Martin at NixonWilliams]

Makes sense, thanks. Does Nixon Williams take on clients just for annual SATR's ?

Yes we do, feel free to contact me with any questions you have