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Someone posted on the Legal Advice Forum that the owners of the flat he is renting long-term had signed the Padron, even although they live in Ireland. He had found this out when HE went to sign it and the lady told him that owners and their tenants cannot both be on the Padron.
He phoned the owner in Ireland and she said she had done it in order to save 35% Tax when she sells the property.
I don't know where she got that idea from because I read in the free English language newspapers when I was in Torrevieja that the Government had changed Capital Gains Tax from the previous situation - which had, in fact, given non-residents the advantage - which was that non-residents paid 15% and residents paid 25% - and made it 18% for everyone, regardless.
Just thought I'd let you all know cos there seems to be a lot of misconceptions among owners and others.
Incidentally, Alistair Darling has also changed Capital Gains Tax in the UK to 18% from 40% with effect next April. Don't get excited - you're not going to save money - he has scrapped the annual reduction factor which meant that if you'd owned the second property for yonks, you wouldn't have to pay much, if any, Capital Gains Tax on the sale of it.
He phoned the owner in Ireland and she said she had done it in order to save 35% Tax when she sells the property.
I don't know where she got that idea from because I read in the free English language newspapers when I was in Torrevieja that the Government had changed Capital Gains Tax from the previous situation - which had, in fact, given non-residents the advantage - which was that non-residents paid 15% and residents paid 25% - and made it 18% for everyone, regardless.
Just thought I'd let you all know cos there seems to be a lot of misconceptions among owners and others.
Incidentally, Alistair Darling has also changed Capital Gains Tax in the UK to 18% from 40% with effect next April. Don't get excited - you're not going to save money - he has scrapped the annual reduction factor which meant that if you'd owned the second property for yonks, you wouldn't have to pay much, if any, Capital Gains Tax on the sale of it.