Ownership of Spanish real estate is taxable in Spain. Depending on whether or not profit is derived from it, different liabilities including the preparation and submission of returns will be required. If the property is rented out, it is essential to maintain accurate records of the expenses - as some of them are deductible - and income derived from the property because the Spanish Tax Authorities (Hacienda) can review any returns within 4 years of having been submitted or ought to be submitted. In the event that the Spanish tax authorities find out that no payment has been made or was wrongly made, a penalty is likely to be imposed and would normally be notified at your Spanish property address. If you fail to appeal or settle the claim, the Spanish tax authorities can sell your Spanish property by public auction in order to get paid what is owed to them. Please consider this carefully.

In some autonomous regions landlords must obtain a permit to rent the property out and must be duly registered accordingly.

We offer tax representation, management of the notifications sent by the tax authorities, and advice on managing liabilities and obligations arising from ownership and renting out your Spanish property.

If you would like more information, please do not hesitate contacting us.