Hi all,

I was wondering if anyone has had any experience selling up a house in Spain to return to the UK. Specifically, I was wondering about the 15% Plus valia tax which one has to pay on any profit made on a house sell.
Some unscrupulous acquaintances tell me that none around here ever declares the real selling price of a property to avoid paying much of this tax, but I ask what would these people do with say 50000 Euros in cash (so called black money) if they were returning to the Uk, could they deposit it in a UK bank no questions asked?, or what
Any possible solutions as to how these criminals may operate would be appreciated.

Thanks.

Hey Marc,
One way around it used to be to set up an Offshore Company and transfer the Ownership of the House to the Company.

The buyer would then Purchase the Offshore Company along with the House thus avoiding any Tax. This is Legal but may be complicated to set up (try offshore company agents in Gibraltar)
Warm Regards