07 April 2022

Do I have to pay taxes if I don’t intend on renting out my property? What about if I only use it for holidays?

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kiwop2

That’s right. Even if you aren’t renting out your property, you’ll still have to pay what is known as allocated property income. By owning an empty or unused property, other than your ‘primary residence’, and deciding to not rent it out, the Spanish tax authorities consider that you could rent it out and generate income. Therefore they quantify this option for a certain amount and require you to pay tax on it. If your property has been empty or used by you, a friend, or a relative for free, this would lead to an income allocation and you’ll have to pay tax.

There is no time like the present to claim on the unfair terms of your mortgage

If you have or have ever had a mortgage, it is very likely that you have been affected byunfair terms.

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