Looking for a UK based accountant to help advise us on tax for our Spanish properties. Any recommendations?

[Nina251]

We run some Spanish holiday rentals and have just moved back to the UK and need an accountant to advise us on the most tax efficient way to run the business in Spain while being tax residents in the UK. Any recommendations?

We already have an accountant in Spain so we understand our Spanish tax obligations.

[Elaine701]

@Nina251 

I'm no accountant, and certainly not knowledgeable about UK tax law, but the rule of thumb almost anywhere is that you pay tax on your profits. 

Surely you already know that income from your properties in Spain is taxed in Spain, and there's lots of deductions.

If you end up with money in pocket ("profit") from that (after Spanish taxes), and that money goes to the UK, I'd presume you're required to declare it as income and pay UK tax on it, and there's likely some UK deductions you can take from that as well. 

I expect any accountant in the UK could sort that rather easily. 

Good luck with that. It should be a rather simple thing. 

[Mike-And-Jane0]

@Elaine701 also @Nina251 can take any tax paid in Spain as the equivalent of an expense  ( I think your post suggests this) when working out the profit and hence tax due in the UK as there is a dual tax treaty between the two countries.

Complications arise however as the tax years are different between Spain and the UK - I suspect the UK is the only country where the tax year runs April 6th to April 5th (I can't remember the history as to why such weird dates were chosen.

Nina,

Your best bet is to find one accountant that can cover both Spanish and English tax returns. There are many international companies that may offer this service.

[Elaine701]

@Mike-And-Jane0 

If it's of any consequence, we have to file our Spanish tax declarations (for our STR) quarterly. Our accounts and deductions have to be up to date on the 10th of January, March, June, and October for our accountant to complete the filing on or before the 20th of those months. 

I'd presume if you're filing annually in the UK, it should be fairly easy for your accountant to submit your Spanish tax returns to HMRC for your UK tax declarations for the previous year, since they've been completed for months prior.