FORM 210 FOR TAX RESIDENT IN UK AFTER BREXIT
After Brexit, that has real effects since January 1st, 2021 in relation to non-resident income tax in Spain, this will be the first quarter in which tax residents in the United Kingdom will have to declare income with the new regulations regarding rental of real estate located in Spain, through form 210.
There are two main changes to this declaration:
In the first place, the reduced rate of 19% is not applicable and instead the general rate of 24% will have to be applied.
The second and most important point is that you cannot deduct any expense from the rental yield and therefore you will have to pay 24% of the full income without being able to deduct expenses such as the IBI, depreciation, mortgage interests, community expenses etc.
We attach a table with the differences in taxation for residents of the United Kingdom in the income tax of non-residents of Spain before and after January 1st, 2021.
Until 2020 From 2021
Type% 19% 24%
Tax base Net income Total income
Remember that the deadline to declare the first quarter of 2021 ends on April 20th, although to charge directly into your bank account the payment it is convenient to do it before April 15th.
If you are interested that AGL prepares this declaration, you can contact us at marta@asesoriagarcialopez.es or jose@asesoriagarcialopez.es