Farrand and Co - Accounting

For more information about living and working in Spain or how our professional services can help you, contact us at info@farrandandco.com

Farrand & Co

Established in Spain since 1992. We offer a service that is uniquely experienced in both Spanish and UK fiscal, taxation, personal and business financial administration. We explain and guide in straightforward and approachable terms that you will understand.

Farrand and Co - Accounting Services for Self Employed

Self Employed

At Farrand & Co we offer specialised services for those working as self-employed, both in the UK and Spain.

Spanish Capital Gains Tax 2008

Assets

Most assets are taxed at 18%. An own home is 0% potentially. There is an exception for the profit on the sale of one’s one home "Vivienda Habitual".

Vivienda Habitual

a) To qualify as your Vivienda Habitual you must have owned and lived in your own home for three years.

b) The net sale proceeds must be invested in your next Vivienda Habitual within two years of selling the original home, or four years if the property is being built.

  • Once age 65 is reached the three-year rule still applies but you do not have to reinvest the sales proceeds to obtain the exemption.
  • There are concessions for some sales within three years, for example if forced to move by change of job, but each case needs to be considered individually.
  • There are further concessions for assets acquired prior to 31st December 1996. For expats living in Spain it is important to remember that the three years starts from the date of your registration with the authorities.