Bexit - 25% Tax on all Income generated in Spain

[Brent120]

 I have been informed from my Accountants in Spain :

Spanish tax office distinguish between two groups of Non-Resident: 

1-RESIDENTS in EU, Norway and Iceland. 

2-RESIDENTS in any other country (British would be in this group from 1st of January 2021).

So from 1st Jan 2021 I will pay 24% tax across the board on all Income generated in Spain.

"You can not take into account any spending. Not even commissions of Airbnb. Nothing at all."

My Accountant states this will result in approximately 2.5 time the tax as I pay today. 😞

[Jerry250]

@Brent120 Yes. This guide explains it all quite well (in case your accountant didn't). The good news is unless you're a UK higher rate tax payer there won't be any further tax to pay. 

https://www.gosimpletax.com/blog/brexit-impact-on-landlords/