More than 600,000 Brits have been left in expensive tax limbo by the latest government update on overseas travel, according to accountancy firm Spanish Taxes Online.
Foreign Travel Uncertainty is Costing Spanish Holiday Homeowners Thousands. Non-resident holiday homeowners have to pay Spain’s 24% Modelo 210 tax on the estimated letting value of their property. Whether rented out or used exclusively by the owner.
Boris Johnson’s inability to confirm that non-essential travel will be allowed after May 17 lengthens a year of concern for people. Who have been contributing thousands of Euros for largely empty properties.
The proposed traffic-light system, details of which are due later this week, should at least allow people to visit Spain without quarantining when they return. But the possibility of multiple tests before and after departure may still deter many holidaymakers. Further affecting rental incomes.
“Holiday home-owners have been hit hard financially by a mixture of COVID-19 and the UK leaving the EU. Which saw their Modelo 210 tax bills increase by 25%.” says Spanish Taxes Online marketing director, Nick Ball. “More delays and uncertainty are worrying, costly and unfair.”
Spanish Taxes Online can, however, save people time and money by filling out and filing Modelo 210 tax returns on their behalf. The fast, secure service, which costs just €59, means you don’t need to deal with the Spanish tax authorities. Or complete any complicated forms – especially useful for non-Spanish speakers.
See spanishtaxesonline.com for more details.
Founded by British-born senior tax accountant Ben Einar Simkins, Spanish Taxes Online is based in Lanzarote. And employs a team of English-speaking experts. Its service has Excellent 5star reviews on sites and search engines including TrustPilot and Google.
British born Ben Einar Simkins heads up the team of professionally trained and qualified accountants at Spanish Taxes Online.
Ben was born in the UK before moving to Spain with his family in the late 1970’s. He has a degree in Economics and is a fully qualified tax consultant and adviser. And a member of leading Spanish trade bodies, such as REAF (Association of Economists and Fiscal Assessors) and CFE (Association of European Tax Advisers).
He first established his tax consultancy in Spain in 1993. And boasts a wealth of experience as a result. Specialising specifically in the area of Non-Resident Taxation and trading as Taxes Online before re-launching as Spanish Taxes Online in 2020.