Torrevieja Forum

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Here you can ask questions about anything that relates to Torrevieja.
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By franco
#1119965
hi, we recently sold our apartment in march, how long does it take to get your money back?
plusvalia ect? thanks mick
By freddo
#1119967
You mean the 3% retention I hope you instructed your Lawyer to claim it back for you should be paid back within 12 months of sale if there is any money left after paying any due taxes The Plus Valia is paid to the Townhall and is a tax on the increased land value and is none refundable
By wingman
#1119969
Sold property in Nov 18. 3% reclaim process started in Dec 18. Still nothing from AEAT.
If you made a loss on the sale of your property you may be able to claim back all or some Plus Valia from the Town Hall. Check with your lawyer on the 27th March 2019 Supreme Court ruling.
The formulas for Town Hall calculations were upheld, but...if land values decreased in the period and the Ayunt artificially increased land values and seller incurred a loss, a portion may be refunded.
You have 4 years to submit a claim. After a period most taxes become prescribed and difficult to claim back.
By franco
#1120007
hi all, yes i am due the 3% back also plusvalia as the apartment sold for a lot less than i paid for it, i have sun lawyers in la zenia, they have told me that they have contacted the relevant people.i suppose its just a waiting game now. thanks mick.
By Info
#1120008
You have to make your tax return on the normal Modelo 210 for non-residents claiming back your overpayment of tax on the sale of your property. Which your Solicitors will have done by now. Ask them for a copy of the form they submitted on your behalf. Once that is done then Hacienda will repay whatever is overpaid. I am not sure if Hacienda has a particular time of year for paying refunds of overpayment of tax or if they pay throughout the tax year. Tax year is January to December so if you are lucky they may do the refunds in January/Feb 2020. It is up to the Town Hall to do the refund of Plus Valia so don't hold your breath there as Town Halls are saying the Government should refund them the Plus Valia and then they can pay it back to the taxpayer.

Bee
By Adey
#1120009
wingman wrote:
Mon Sep 02, 2019 11:43 am
Sold property in Nov 18. 3% reclaim process started in Dec 18. Still nothing from AEAT.
If you made a loss on the sale of your property you may be able to claim back all or some Plus Valia from the Town Hall. Check with your lawyer on the 27th March 2019 Supreme Court ruling.
The formulas for Town Hall calculations were upheld, but...if land values decreased in the period and the Ayunt artificially increased land values and seller incurred a loss, a portion may be refunded.
You have 4 years to submit a claim. After a period most taxes become prescribed and difficult to claim back.
Until the government puts what the courts decided into a royal decree, the town halls (especially Torrevieja) will not give us our money back, but since we don't really have a workable government in Spain at the moment, don't hold your breadth for a royal decree, I have had a claim lodged with Torrevieja town hall since May 2017 for my plus valia.
By woodhai
#1120420
I guess you are resident as I was told by my lawyer that only residents get the full amount back.
As a non resident I got back about 40% and it only took about 2 months. I was expecting to wait about a year but the money appeared in my bank. I checked with the lawyer at the estate agent and she said yes it was from the tax man.
Ian
By Info
#1120425
The only time a resident can get all the tax back if they have made a gain is if they reinvest the money in another property or they are over 65. If they sell at a loss they will be declaring a nil tax return on the sale anyway and will be able to offset the capital loss against any future capital gain. As non-resident we don't have that option open to us as the 3% tax on total sale is automatically deducted by the buyer.

Bee
By franco
#1121714
hi all, just an update, i got the 3% back beginning september (6 months) just waiting for the rest now,been told it takes up to 18 months to get that back. regards mick.
By Info
#1121720
Thanks for letting us know Mick. I presume by the rest you mean the Plus Valia. That could be a long time as its the Town Hall who has to return that.

Bee
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