Spain Property Insight

How can I minimise the impact of Capital Gains Tax on the sale of a UK rental property?
I have had the property for 8 years so is there any taper relief? I am 65 in 1 year’s time, I am resident in Spain for tax purposes but am liable for tax on rent of the UK property. Is there any relevance to the timing of the property sale due to any changes in the last budget and also my age?

In your shoes I’d be disinclined to rely on anything posted here.

With your residency issue, and particular requirement, it might be worth getting independent financial advice.

I’ve pasted links below to the CGT guide and how to find an IFA.

This is the sort of info you will find:-

To work out your Capital Gains Tax you’ll need to look separately at each asset disposed of that’s liable to Capital Gains Tax and in straightforward cases:
Take the disposal proceeds (usually the amount received) and deduct your costs and tax reliefs to work out each gain or loss.
Add together all of your gains for that tax year.
Add together all of the losses you’ve made for that tax year.
Deduct any allowable losses you’ve made that year from the gains to work out the overall gain or loss.
If the overall gain is below the annual tax-free allowance (known as the ‘Annual Exempt Amount’), there’s no Capital Gains Tax to pay. The Annual Exempt Amount for individuals is £10,100 for 2009-10 and 2010-11.
If the overall gain is above the Annual Exempt Amount, you may be able to deduct unused losses from earlier years.
If the overall gain is still above the Annual Exempt Amount, you deduct the Annual Exempt Amount and work out the tax on the balance. The rate of tax is 18 per cent for 2009-10. Follow the ‘Capital Gains Tax rates’ link below to find the rates of tax for other years

A property for sale in France is an issue that has always enticed British buyers. A good number of British families have a second home in France and a lot more other families are busy taking a look at other prospective homes to be bought.

There are a lot of reasons why people would like to purchase a property in France, for instance, the way of life is more at peace, the cuisine is incredible, and the climate are great. There is a combination of urban as well as rural living, and this is the primary reason.

However, it is not only the lifestyle or cultural reasons that are drawing the people to purchase a property in France, there are solid monetary reasons as real properties are a lot cheaper compared to Britain. Ease of access is not a setback either, as it can be faster to get to any area in France than to journey the length of Britain, this is because there are ferry crossings, Eurostar transport and direct flights across the whole country.

On the other hand, the markets all over Europe are presently fighting back the sub - prime crisis. Therefore, a property market collapse is not a distinct possibility anymore, but a bullying reality. Well then, is it still a nice idea to think of purchasing a property in France?

The French economy asserts that they have evaded the credit crunch risk. Banks are being commended for sticking to a firmly synchronized plan, which obviously has given the necessary backing to the economy. But in spite of this, the housing market hasn’t been totally out of danger. The costs have started to plummet or be inactive but not like with Britain or Spain the France’s housing market has not disintegrate.

There have been signals, but the crash cannot be thought of as venomous. This is chiefly because of the fictional sub-prime market. The loan plans are dissimilar, and it is the profits of the borrower which decides the loan amount and not the worth of the property.

When it comes to buying property for sale in France, there are a few characteristic to keep in mind: usually an apartment is put up for sale with a bare kitchen like there are no dividers, no water outlet, nothing, it’s completely bare. But certainly this let you to entirely plan your kitchen according to your own sense of style. And the only issue that may hold you back in designing the whole kitchen is your budget.

After you have come to a decision about the property that you would like to buy, the seller and the buyer will both sign some papers called a promesse de vente. This is a lawfully binding papers that verifies that the vendor must sell the real property to the buyer. Nevertheless, the buyer is provided eleven days to back out. All the property sales are done with notaires and the vendee and vendor have their own notaire as well, to prove that all the portion of the sale are done according to the existing law.

Gen Wright
http://www.articlesbase.com/accessories-articles/a-property-for-sale-in-france-can-you-find-a-good-deal-706041.html

hi everyone really need your help here, my mum and dad moved over to spain to retire in 2006 and moved into a beautiful town house in the village of valentin in calasparra murcia, they bought the house outright and loved it but moved to san miguel de salinas in alicante in 2007 to be closer to friends, however now they are having to pay for a mortgage for the san miguel house as the house in valentin is still for sale after 2 years of being on two property selling agent websites so they now have come out of retirement to work to pay for this mortgage and are struggling to make ends meet and are getting really tired working again as they are 65 now so any help would be great thank you
you can check the house out at http://spanishresidence.com/ it is in the costa calida/murcia area of preference and is on at 99,995 euros it is the only one on that price so you should see it if you choose to have a nose, this house has aready been reduced by 20,000 euros and cat be reduced no more thaks again Jade

Make sure the agents are getting people to look around the house. If the house is getting viewings and people dont want to buy, the price is still too high.

hi everyone really need your help here, my mum and dad moved over to spain to retire in 2006 and moved into a beautiful town house in the village of valentin in calasparra murcia, they bought the house outright and loved it but moved to san miguel de salinas in alicante in 2007 to be closer to friends, however now they are having to pay for a mortgage for the san miguel house as the house in valentin is still for sale after 2 years of being on two property selling agent websites so they now have come out of retirement to work to pay for this mortgage and are struggling to make ends meet and are getting really tired working again as they are 65 now so any help would be great thank you
you can check the house out at http://spanishresidence.com/ it is in the costa calida/murcia area of preference and is on at 99,995 euros it is the only one on that price so you should see it if you choose to have a nose, this house has aready been reduced by 20,000 euros and cat be reduced no more thaks again Jade

Make sure the agents are getting people to look around the house. If the house is getting viewings and people dont want to buy, the price is still too high.

Paradise Property Bali is the leading Bali real estate developer and property investment company. When it comes to buying the Bali real estate, Paradise Property offer fantastic property investment opportunities in Bali for private villas in Seminyak, luxury houses in Canggu, cliff top locations in Jimbaran and The Bukit, secluded beachfront in Candi Dasa and mountain and river views in Ubud.

Paradise Property Bali can help create lifestyles most people can only dream of with real estate options that include buying off plan in a gated community, to buying an already constructed luxury Bali private villa.

Paradise Property Bali provides fully integrated property investment services including architects and interior design, construction and quality control to European standards as well as Bali villa management and Bali villa rental services.

With discerning international clients and a large investment base, Paradise Property Bali knows that with global investment comes the expectation for quality and excellence. The architecture, interiors and finishing of all developments with Paradise Property Bali is of the highest international standards. So important is the quality aspect that a wood preparation facility and specialised kitchen manufacturing and design service using the finest quality European fittings are also being created by Paradise Property Bali to maintain standards that are second to none.

Looking at resent tourist boom and Bali’s many developments, Bali real estate still remains a buyers market, where a suitable Bali development for anyone’s taste is available.

Resent tremendous growth in both arrivals as well as people who wish to stay and live in Bali real estate has attracted more and more serious and larger development companies. The Bali developments are also more and more being developed with in now better exposed zoning law’s and areas, as well as building and construction regulations. The Bali villa buying market is also becoming more sophisticated, and as a respond most Bali villa developments now has a fairly good to even similar to European standards. Recently there has also been a trend where Bali developers offer a wider range of design and interior opportunities, even though most Bali developments has a strong Balinese touch to it.

Key words for a successful Bali real estate development is still about great location, quality build, recognized architect, as well as established management brand name attached to it.

At this stage Bali developers still source most building material locally in Bali, and around Indonesia. But also in this area more high end Bali developments has started to import some of the needed material, specifically interior and furniture. Bali land prices for Bali real estate projects in Bali residential market is still also very much undervalued with about 40% compared to Thailand and the market therefore sees a strong value for money buying into Bali developments.

Villas for Sale and Rent

We have a villa management and villa rentals department for our own developments as well as for some of the most exclusive and luxurious individual properties in Bali . A dedicated website at Paradise Villa Rentals has been created to provide you with details, information and prices to make your next trip to Bali a truly memorable event.

Land build packages

Paradise Property Bali also develop land build packages whereby an investor can ask for their own private dream home to be built on a plot of land. We will source the land, source the architects and liaise between the owner and all parties concerned to make sure the highest quality of build is achieved.

Exclusive locations

We offer the best property investment in the most exclusive and sought after destinations of Seminyak, Canggu, Jimbaran, The Bukit, Ubud and Candi Dasa ; from prime beachfront to picture postcard rice fields and stunning mountain views, members of the Paradise Property family will have choices of luxury private villas most people can only wish for. An impressive list of prestigious developments in Central London, Geralds Cross, UK; Flagler Beach, Florida USA; Port Andraitx, Majorca and Marbella, Spain and the Casa Nova in Albufeira, Portugal is testimony to Paradise Property’s pedigree.

Property investment

With discerning international clients and a large property investment base, Paradise Property Bali knows that with global investment comes the expectation for quality and excellence. The architecture, interiors and finishing of all developments in all locations are of the highest international standards. So important is the quality aspect that a wood preparation facility and specialized kitchen manufacturing and design service using the finest quality European fittings are also being created to maintain standards that are second to none.

Alessandro Filippi
http://www.articlesbase.com/real-estate-articles/bali-real-estate-paradise-property-land-and-homes-for-sale-677724.html

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