[News] Spain plans 100% tax on non-EU owned homes

[Machiavelli]

I think regardless of where you stood/stand on Brexit, i think its good idea from the Spanish. Areas of the UK have toyed with taxes on 2nd homes. I think parts of Wales and Cornwall have been concerned about the lack of housing because of people buying properties to rent out as holiday homes.

I've mentioned before on here, it annoys the s*** out of me that my cousin owns a place in central Brighton that he rents out for airbnb. He's never lived in the City, but makes £40K a year renting it out. At the same time people like myself having lived here all my life, can't afford to buy, and renting is outrageously high. I think any laws that discourage it are good in my opinion.

Sorry to hear this. Yes, alongside building more houses, we also need to change the laws on existing ownership of houses.

 

[birthofanorange]

Anyway this thread is completely irrelevant to me and i can see the usual suspects have started the inevitable trolling and nastiness so i’m going to add this thread to the ignore bin

You'll be sorely missed.

 

[Blues Guitarist]

But they won't be affected will they? Because they have dual nationality, or at least should have if they lived there before Brexit. This will surely only affect anyone post Brexit thinking of moving there. And anyway, people from all over the world move there including millions of illegal immigrants. Sure it's aimed at them more than a few leathery Sun readers (not my words). Still, any opportunity to blame everything and anything on Brexit it seems

The article says that the tax will apply to "non-resident non-EU foreigners". People who want to buy a house and live in it won't be affected.

 

[portlock seagull]

The article says that the tax will apply to "non-resident non-EU foreigners". People who want to buy a house and live in it won't be affected.

I know. But the accusation was about Brexit. As always a thread on NSC off in multiple directions from the start

 

[Weststander]

Sorry, doesn't fit the narrative for NSC!

Were Brits who might've bought a home (primary or second) in Spain from 2025 onwards, Brexit voters in 2016?

Going by people I know including family, a neighbour and clients who do already, all but one are staunch Remainers. Gutted about the complications of Brexit.

Incorrect guessing going on. The FT/AngloInfo estimated that sentiment amongst ex-pats in 2016 was:
Remain 73%
Brexit 20%
Undecided 7%

 

[Weststander]

The article says that the tax will apply to "non-resident non-EU foreigners". People who want to buy a house and live in it won't be affected.

I think they'd have to have official Spanish residency, not just happen to 'reside' in Spain by virtue of buying the new home.

 

[Hotchilidog]

I think regardless of where you stood/stand on Brexit, i think its good idea from the Spanish. Areas of the UK have toyed with taxes on 2nd homes. I think parts of Wales and Cornwall have been concerned about the lack of housing because of people buying properties to rent out as holiday homes.

I've mentioned before on here, it annoys the s*** out of me that my cousin owns a place in central Brighton that he rents out for airbnb. He's never lived in the City, but makes £40K a year renting it out. At the same time people like myself having lived here all my life, can't afford to buy, and renting is outrageously high. I think any laws that discourage it are good in my opinion.

Absolutely this. Asset income needs taxing the same as earned income. Many parts of the country have been rendered unaffordable by part-timers and landlords

 

[Blues Guitarist]

I know. But the accusation was about Brexit. As always a thread on NSC off in multiple directions from the start

It is valid to reference Brexit in this discussion because, without Brexit, this would not have been an issue for UK citizens.

 

[GT49er]

Were Brits who might've bought a home (primary or second) in Spain from 2025 onwards, Brexit voters in 2016?

No idea - that wasn't the point!

 

[portlock seagull]

It is valid to reference Brexit in this discussion because, without Brexit, this would not have been an issue for UK citizens.

No, not in the accusation that…oh, I can’t be bothered repeating. I’m out.

 

[dazzer6666]

I'm not sure too many illegal immigrants would be in a position to buy a house.

While this isn't solely aimed at Brits, I'd guess we make up a significant proportion of non-EU foreigners in Spain buying property.

 

[dsr-burnley]

It is valid to reference Brexit in this discussion because, without Brexit, this would not have been an issue for UK citizens.

What's quite surprising is the number of people who have "liked" posts complaining that Brexit has brought this about and hence Brexit is a Bad Thing, and have also "liked" posts saying we should introduce this ourselves which we can now do only because of Brexit, and hence Brexit is a Good Thing.

 

[Herr Tubthumper]

Why do you have to bring Brexit into every thread ?

It was 8 years ago move on get over it

I guess the “the leathery, Sun reading ex pat bores” will be moving on when they have 100% tax applied to their property.

 

[Weststander]

I guess the “the leathery, Sun reading ex pat bores” will be moving on when they have 100% tax applied to their property.

73% of ex-pats voted Remain according to the FT.

 

[Guinness Boy]

What's quite surprising is the number of people who have "liked" posts complaining that Brexit has brought this about and hence Brexit is a Bad Thing, and have also "liked" posts saying we should introduce this ourselves which we can now do only because of Brexit, and hence Brexit is a Good Thing.

You what?

When did Brussels ever control the UK Parliament's ability to raise taxes?

 

[Bakero]

I think they'd have to have official Spanish residency, not just happen to 'reside' in Spain by virtue of buying the new home.

Correct. Buying a property doesn't mean you're granted residency.

This is a great policy in my view. Lots of friends of mine have no prospect of getting on the housing ladder and are currently sinking half their salary or more into rent. Hiking tax on foreign buyers and on holiday rentals should help but they also need to go after second home owners in general.

 

[Herr Tubthumper]

But they won't be affected will they? Because they have dual nationality, or at least should have if they lived there before Brexit. This will surely only affect anyone post Brexit thinking of moving there. And anyway, people from all over the world move there including millions of illegal immigrants. Sure it's aimed at them more than a few leathery Sun readers (not my words). Still, any opportunity to blame everything and anything on Brexit it seems

They might not have dual-nationality. I lived in the EU before long Brexit but wasn’t able to.

 

[SittingbourneSeagull]

Why do you have to bring Brexit into every thread ?

It was 8 years ago move on get over it

Because it is still affecting people. The whole you can only spend 90 days in an EU country has an impact not to mention the ongoing financial issues.

 

[Weststander]

Correct. Buying a property doesn't mean you're granted residency.

This is a great policy in my view. Lots of friends of mine have no prospect of getting on the housing ladder and are currently sinking half their salary or more into rent. Hiking tax on foreign buyers and on holiday rentals should help but they also need to go after second home owners in general.

Living in Spain, through your sample size of British ex-pats and second home owners, are they all leather-skinned Brexiteers?

The folk I know who own homes in Spain are by and large very Remain and were in 2016. They say Brexit made life difficult for them in Spain, in terms of worries and new red tape.

 

[Jim in the West]

Absolutely this. Asset income needs taxing the same as earned income. Many parts of the country have been rendered unaffordable by part-timers and landlords

As far as I'm aware, the income from renting out a property is taxed in the same way as earned income (although the first £1k of rental income is tax free). CGT on property sales is 18% or 24%, depending on your marginal rate of income tax....so it's not a million miles away from the basic rate of income tax (20%).

But I agree with the thrust of your statement - unearned income should be taxed at the same rate as earned income.