Reclaim CGT on properties in Spain

Monday, July 19, 2010

Reclaim CGT on properties in Spain

People who were illegally charged capital gains tax (CGT) on the sale of a property in Spain are running out of time to reclaim their money, if they have not already done so.

Foreign exchange firm HiFX has warned that those people who were charged CGT by the Spanish government on the sale of a home in Spain between 1997 and 2006 have just one month left to initiate proceedings to recover their losses.
HiFX says that everyone who has issued a claim has been successful, with the average claimant receiving €18,000 (£15,000).

Mark Bodega, marketing director of HiFX, said: “We have been fighting for the last two years to help British people reclaim the CGT that they were illegally overcharged by the Spanish government.

“We estimate that there are still thousands of Brits who sold Spanish properties in the eligible time period who still haven't come forward. But time is running out - once the deadline passes they will never be able to reclaim this money again.”

To read our guide to buying a property in Spain, click here.

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A Place In The Sun