Do Brits who overstay in EU post-Brexit face deportation?
Leon Fernando Del Canto has written an article in International Adviser looking at whether Brits who overstay in EU post-Brexit will face deportation. British tourists and second-home owners cannot exceed the 90-day limit outside of the UK post-Brexit, but Spain has dismissed reports that those breaking the law will be immediately deported. Although the latest […]
Owning property with a company in Spain (II)
Owning Spanish property via an international company. Previously, we have the reviewed the history of property ownership through companies in Spain. The structure emerged in the last decades of the past century as an advantageous method for the country to attract foreign investors; and for these investors to avoid excessive taxes. However, in recent years, […]
Owning property with a company in Spain
Owning property with a company in Spain: a tax time-bomb. Owning Spanish property via an international company could be a tax time-bomb waiting to explode. Spain has for decades been a destination for countless expats across the world; some areas along its beautiful coast resemble British colonies, due to the concentration of UK citizens living […]
Working as self employed in Spain
Working as self employed in Spain. Spain has become an attractive country to become a freelancer, as it offers nice weather, vibrant cities and access to the European market for professionals from all sectors. As a result, in the past years, certain areas in Madrid, Barcelona and other cities have become almost micro-Silicon Valleys of […]
Taxation of british pensioners in Spain
Taxation of british pensioners in Spain: British citizens applying for pensions while living in Spain: before and after Brexit implementation time. It is hard to trivialise the issue of pensions for any British citizen interested in relocating to Spain. Besides the obvious attractions, such as a nicer climate and beautiful environments, the relatively lower costs […]
Driving in Spain: you may have an embargo and you don´t even know about it
Driving in Spain: you may have an embargo. You may visit Spain for a couple of days or you may just have moved there to live a simpler, sunnier life. No matter the reason, you need a car to drive around and, let’s be honest, driving on the other side of the road and trying […]
Spanish tax authorities use big data to check the residency status of international expatriates
The Spanish tax office’s (Agencia Tributaria – AEAT) Annual Tax and Customs Plan for 2021 is paying closer attention to international expatriates based on expenditure patterns and travels. Spain’s tax agency has announced that it will be using so-called big data to track the movements of high net worth individuals to check whether they are […]
A Spanish Lawyer and Barrister in United Kingdom
Hiring a legal professional is a tricky decision, particularly when one needs an urgent opinion on financial or fiscal and tax matters.
The spanish tax office red tape: The form 232 Declaration
The Spanish Administration is famous for the excessive formalities and its red tape. One of those famous formalities is coming soon and it comes in the form of, surprise, surprise: a new tax return! The form 232 Declaration. The new tax return will report on all the company transactions with related parties; including those with countries […]
Living in Ibiza and paying the right taxes
Living in Ibiza and paying the right taxes. Property Taxes and Legal issues in Ibiza – non-Spanish residents living in The Balearics Islands need to be aware of Spanish legal and tax considerations that could affect the value of their homes, the wealth in their Spanish estates and their ongoing tax liabilities. Local Ibiza Property […]
British residents in Spain after Brexit
British residents in Spain after Brexit. Ever since the referendum in 2016, British and European press outlets were full of predictions and prophecies about the outcomes of the vote. From catastrophe to paradise, commentators had a lot to say about trade, working rights, movement and other issues that now had to be negotiated by both […]
Spanish and EU residents in the UK after Brexit (Part II)
Spanish and EU residents in the UK after Brexit. In the previous post about the European Union settlement scheme, established by the United Kingdom’s Withdrawal Agreement, we reviewed the timing and criteria employed to access settled and pre-settled status. Now, we will take a look at the relevant tax implications of the proposed transition of […]
Spanish and EU residents in the UK after Brexit (Part I)
Spanish and EU residents in the UK after Brexit. Brexit will involve a lot of changes that are sometimes discussed with generic terms like trade relations or border agreements. However, behind these terms and the numbers expressed to explain them, there are hundreds of thousands of people who will be affected by changing transnational relationships […]
Last call for buyers of off-plan properties in Spain
If you have purchased an off-plan property in Spain before the 1st of January of 2016, this might be your last chance to claim back your deposit and other amounts paid on not delivered Real Estate developments. Deadline for claiming back off-plan property deposits The 7th of October of 2020 will be the 5th anniversary […]
Justice on the Costa Del Sol
Justice on the Costa Del Sol. Mortgage contracts on Spanish properties have been a headache for British borrowers for some years now, due to the abusive nature of Spanish bank clauses in relation to a specific mortgage clause on residential homes known as a Floor Clause (Cláusula Suelo), IRPH and mortgage expenses. Jurisprudence at European […]
New High Court ruling will force the Spanish Tax Authorities to be better behaved
New High Court ruling will force the Spanish Tax Authorities to be better behaved. Let’s say you are being treated by a doctor with a specific drug just before having been diagnosed properly. This is, at its core, the way in which the Hacienda (Spanish Tax Authorities) has been acting when it came to the […]
An easy guide to dealing with probate
Guide to dealing with probate. Dealing with probate after the death of a loved one has never been an easy procedure. Covid-19 has made it more challenging and the need of making personal arrangements in some cases has led to an even lengthier process than before. Meanwhile, the new government measures for amending the Wills […]
Wealth tax: a small tax for such a big debate
Wealth tax: a small tax for such a big debate. As the government considers the country’s economic position following the Covid-19 pandemic, calls are being made for the implementation of a wealth tax. Speaking in early July 2020, the shadow chancellor Annaliese Dodds said that the government needs to look at the injustice of the […]
Spanish residence permit for British Citizens after Brexit.
Spanish residence permit for British Citizens after Brexit. The British exit from the EU on January the 31st seems like a lifetime ago, as the events of recent months have been so tumultuous. But Brexit hasn’t gone away, just disappeared from view, and the uncertainty it creates still affects us in many ways, both big […]
Spain's back to normal, slowly but surely
Spain’s back to normal, slowly but surely. It is three months since the lockdown began and there has now been some lifting of restrictions in Spain’s reopening plan. Starting 21st June, life will be easier for people living in and travelling to Spain. We outline here what the easing of restrictions could mean for you […]
What Does the Tax Agreement between Spain and Gibraltar Mean for You?
On the 4th March 2019 a new tax treaty was agreed between the UK and Spain regarding Gibraltar and this could have serious implications for anyone with connections to Spain. The Tax Agreement between Spain and Gibraltar ame into force in March this year with the intention of improving cooperation between Gibraltar and Spain in […]
The Spanish inpatriate system (the Beckham Rule) post Covid-19
The Spanish inpatriate system (the Beckham Rule) post Covid-19. As a consequence of the Covid-19 health crisis global immigration has fallen, and the property market is suffering with a substantial reduction in prices worldwide. Once lockdown has been lifted, we can expect countries – especially EU member states – to begin competing with one another […]
Spanish Inheritance Tax Considerations for “Brexpats”
Spanish Inheritance Tax Considerations for “Brexpats”. With Brexit underway, U.K. residents who own property in Spain—of which there are many, considering Spain is one of the top overseas destinations where British people own second homes—need to make a concerted effort to understand the changing landscape affecting how their overseas assets will be taxed in accordance […]
Spanish Tax deadlines are not extended
The #coronavirus crisis requires constant monitoring of our tax obligations, both in England and Spain. In Spain, despite the situation, the Council of Ministers, in its meeting yesterday, did not approve extensions to the Spanish Tax Deadlines.
The Brexit Prophecy and “Brexpats” in Spain
The Brexit Prophecy and “Brexpats” in Spain. Brexit is here and all seems very normal. Brexit will be completed as a result of the U.K. elections—the fulfillment of a prophecy, announced for the first time by then Prime Minister David Cameron when he called the referendum back in 2016—a referendum he himself did not even […]
Sting in the tail for Spanish property buyers
Sting in the tail for Spanish property buyers. It was recently reported that over 5,000 properties in Spain are owned by international investors, the majority of which are UK residents. In the late 20th century, buying real estate in Spain via international corporate structures was a popular way of reducing tax liabilities, writes international tax […]
The Brexit Prophecy and "Brexpats" in Spain
The Brexit Prophecy and “Brexpats” in Spain. International tax barrister Leon Fernando Del Canto looks at what Brexit will mean for businesses and individuals in the EU and in particular for the large number of British citizens living and working in Spain. To read the full article The Brexit prophecy and “Brexpats in Spain Del […]
Spanish Tax Authority Looks at Foreign Property Owners
Spanish Tax Authority Looks at Foreign Property Owners. International tax barrister Leon Fernando Del Canto discusses the growing interest of the Spanish tax authorities in ownership of properties through international corporate structures. The authorities have a number of new tools to investigate these structures, and property owners need to ensure they are compliant with the […]
Spain cracks down on 'aggressive tax planning' by foreign property investors
Spain cracks down on ‘aggressive tax planning. “There are more than 5,000 private Spanish properties valued at over £1m owned by foreign investors, most of which are UK residents. The majority of these are set up as international corporate structures as a way of minimising tax or avoiding Spanish income tax for non-residents, as well […]
Understanding tax on your Spanish holiday home
Understanding tax on your Spanish holiday home If you aren’t a resident of Spain, you may struggle to understand the Spanish tax you need to pay on your holiday home. Luckily, this is simple to work out and depends on whether you rent out your property or not. Tax for landlords who lease Making money […]
How does Spain tax corporate income?
How does Spain tax corporate income? Individuals operating their own business or planning a startup in Spain will need awareness of the Spanish tax system in order to succeed. Del Canto Chambers specialise in Spanish and UK tax advice and tax compliance as well as tax inspections. The brief guide below sets out the basics […]
Tax planning for Spain
Tax planning for Spain. It’s always been important to get the right tax planning. Whether you are talking about UK tax, Spanish tax or any other form of international tax around the world, you need it to be the right hands. Tax changes happen all the time and it’s hard to keep up. The implications […]
The Supreme Court condemns the Spanish Tax Office
The Supreme Court condemns the Spanish Tax Office. The Supreme Court of Justice of Castilla y León has admitted the appeal of a taxpayer that had been sanctioned a total of 5.800 euros for having presented Form 720 after the deadline and condemns the Tax Office for costs. The full judgement can be read here. […]
British citizens applying for pensions while living in Spain: before and after Brexit implementation time
Spain remains the most popular destination for British expats retiring overseas. Spain is also hosting the largest group of UK citizens living in the rest of the EU at an estimated 310,000 in 2017. The number of Britons living in Spain over the age of 65 has more than doubled in the past 10 years, […]
What we save by working with full invoice
What we save by working with full invoice. According to VAT law, for a purchase document to be considered a full invoice it has to meet various requirements, some of which are complete tax data of supplier and customer, the invoice number, and a detailed VAT breakdown (see all requirements here). Having said this, it […]
Spanish floor clause and mortgage expense complaints registered with Banking supervisor soar 178% in 2017
The claims service of the Bank of Spain has been overwhelmed by consumers making complaints against lenders for abusive mortgage interest floor clauses, and set-up costs. The Claims Service of the Bank of Spain is a body that evaluates consumer complaints against financial service companies. The Bank of Spain has revealed that there were 40,173 […]
Owning Spanish property via an international company could be a tax time-bomb waiting to explode
International company structures established in decades gone by to help wealthy owners of property in Spain avoid tax are now a ticking time-bomb as the Spanish tax authorities set their sights on them. “International company structures, with some owned by double or triple vehicles involving a Spanish company belonging to a foreign company and, in […]
New Spanish Law for Contractors and Freelancers
As we announced in our last article, the New Spanish Law for contractors and freelancers reforming Self Employed conditions came into force on the 1st of January 2018. These are some of the new measures that bring more clarity and benefit to the freelance worker: 1. VAT Deductible expenses for self-employed people working from home. Contractors […]
Has the Beckham law helped to attract foreign capital?
Since its promulgation, Spain has joined countries that aim to attract residents of great fortune. Has the Beckham law helped to attract foreign capital? There is currently an international struggle on how to attract residents with great international private fortunes. Spain has taken its time in joining these and the legislation is still lacking in […]
Permanent Residence Card VS Settled Status
Many of yours might be thinking, whether at this stage, would be worthy to apply for a Permanent Residence Card or perhaps would be convenient to wait until the UK government clears up the horizon of the EU Citizens living in the UK. SAS and Permanent Residence Card The last 7th November, the government offered […]
The new Law for Self-Employed Workers: Past, Present and Future
PAST: The Federation for self-employed workers (ATA) had long called for an ambitious reform of the self-employed statute for recovering a very punished sector. According to its president, 2 out of 3 had to withdraw from the system as a consequence of the economical crisis. Ambitious or not, You may judge. The expected and urgent […]
New ruling favourable for claims of mortgage costs
Recently we published an article with regards to court claims in mortgage expenses (Notary fees, Land´s Registry fees, Property Appraisal and management costs among others). Furthermore, a First Instance Judge from Alcorcon, (Madrid), has sentenced Bankia to refund all above mentioned mortgage set up costs including the Stamp Duty Tax which represents around the 70% […]
Notaries request greater transparency and simplicity in mortgage clauses
In the past seminar called Protección del consumidor en la contratación hipotecaria (Consumer Protection in mortgage contracting) that took place in Santander from 19 to 21 July, the notaries are agree: transparency, simplicity and equity should prevail in mortgage contracts. And should be the financial institutions that, voluntarily, adopted these principles. Banks have become accustomed […]
Banks will have to explain better their mortgage contracts.
Spain will incorporate to its legislation the Directive 2014/17 CE of 4th February 2014 on credit agreements for consumers relating to residential immovable property. It means that banks will have to disclose information on their financial products or insurance accessories attached to their mortgage contracts. This includes credit cards, house or life insurance, etc. According […]
Owning Property in Spain is Taxing
It’s just a matter of time that UK expatriates in Spain receive a notification from the Spanish Inland Revenue (Hacienda); claiming unpaid taxes for the last four tax years (tax statute of limitation). By now, after having acquired your Spanish property, we are sure you’ll agree that the Spanish Tax Legislation is rather complex adding […]
Double good news for those who claimed floor clauses or mortgage expenses
Regarding the costs of the trial Paying legal costs even if having good chances for winning a case against banks, may be deterrent rather than effective and may prevent consumers from taking legal actions against banks, especially if the amounts claimed are moderate. But Sala I of the Supreme Court has ruled and established, as a […]
Floor Clauses Claims The Private Agreement that banks offer to their clients
In this article, Antonio Gabriel Aguilera talks about, the so-called “floor clauses” and explains that it is a current and unstoppable phenomenon affecting millions of clients in the whole Spanish territory. He also explains to us that since 2015, some banks contacted clients that had mortgages with floor clauses, with the sole purpose to cancel such […]
Floor Clauses: 11 most Common Asked Questions
If you are one of those that are doubting about starting a complaint for overcharged mortgage interest against your bank, probably, many doubts will arise before contacting a professional firm. The clients whom have deposited their trust in us, have already been answered with their bank claims queries. In Del Canto Chambers, we provide professional […]
Spanish Off Plan Deposit Claims
Now, time is essential for a successful reclaim of your off-plan property deposit. One of every five houses bought by foreigners in Spain, belongs to British Buyers; however, some of these buyers saw truncated their dreams, as they put their life savings into Off-Plan deposits for properties that were never built or that were […]
Tourism leases in Andalusia. What should we know?
Touristic Lettings in Andalucía: What should we know about… Touristic Lettings are significantly increased during the Summer. If you are one of those thinking about renting your property for touristic purposes in Spain, you should know what are the applicable law requirements. Tourism in Spain is regulated by the Regional Autonomous Community (Comunidad Autónoma) where […]
Gibraltar and its tax regime: more complexity in the negotiations of the Brexit
Gibraltar and its tax regime: more complexity in the negotiations of the Brexit Spain and the United Kingdom disagree on where to approach Gibraltar’s future fiscal status, whether within the Brexit negotiations or posteriori on a bilateral basis. Gibraltar is the most controversial territorial issue of Brexit. It is not yet known what will become […]
Capital gain, cadastre and taxes increase the final price of housing by 25%
Capital gain, cadastre and taxes increase the final price of housing by 25% The calculation of the municipal surplus value and the increase of the value of the land by the update of the Cadastre make the taxpayer to pay 25% more of the price of the house. Buying a property implies a major outlay. […]
Gibraltar calls for more support against interference from Spain and the EU
Gibraltar calls for more support against interference from Spain and the EU The Gibraltarian authorities ask the British government and the party of Theresa May for a greater commitment from London in supporting the Rock in the negotiations of Brexit. Gibraltar’s chief minister, Fabian Picardo, has called on UK Prime Minister Theresa May to make […]
The Home Office changes the EEA (PR) Guidance Notes
The Home Office changes the EEA (PR) Guidance Notes After media published that the Home Office tries to stop the applications to Permanent Residence Card from EEA citizens suggesting to these citizens to subscribe to an email alert instead of applying to a PR due to the huge increase of applications since the Brexit date. […]
Floor clauses: Also a nightmare for British residents in Spain
Floor clauses: Also a nightmare for British residents in Spain It is estimated that around 200.000 British residents in Spain own properties with mortgages containing floor clauses that could be claimed at courts. Mortgage floor clauses were declared as ‘abusive’ by the CJEU in December 2016 and last February the Spanish Supreme upheld this decision […]
The Spanish Embassy in the UK will resolve Spanish residents’ Brexit’s doubts
The Spanish Embassy in the UK will resolve Spanish residents’ Brexit’s doubts The Spanish Embassy in the United Kingdom has opened a single window to resolve the Spanish residents’ doubts about residence permits in the UK due to Brexit. The Spanish Embassy in the UK has communicated through the web verne.elpais.com, the 4 questions that […]
The Spanish Embassy held a meeting on Brexit
The Spanish Embassy held a meeting on Brexit “This is a historic moment from which there can be no turning back” said yesterday Theresa May in the House of Commons; few hours after her ambassador in the EU Tim Barrow gave to Donald Tusk; EU Council President, the letter which officially triggered the Article 50 […]
ISA Accounts: Effortlessly Save (tax) in the UK
ISA Accounts: Effortlessly Save (tax) in the UK Individual Savings Accounts (ISA) are a very popular savings model in the UK. The fiscal will implement in April new fiscal measures that will make them more attractive. Helping families to increase their savings levels: that was the idea of the North American economist Chris Edwards to […]
Application for UK Residence Card
Application for UK Residence Card A popular Spanish proverb says “All fields bloom in March…”. March is the month in which we begin to awake from the winter lethargy and in which many of us with much anticipation, we are welcoming the much appreciated Spring. March also is and will be undoubtedly crucial in the […]
Solicitud de la Tarjeta de Residencia en UK
All the Fields Bloom in March… El refranero popular dice que “en Marzo florecen en todos los campos..”, sin duda es el mes en el que comenzamos a salir del letargo invernal y en el que muchos de nosotros acogemos con mucha expectación la siempre bienvenida Primavera. Marzo también, lo es y será, sin duda […]
Higher Education and Visa Requirement in Spain for International Students
Higher Education and Visa Requirement in Spain for International Students Spain offers a variety of higher education choices. Students come from different countries to study in one of the seventy four universities situated inside the nation. The reason is a mix of good education facility and a chance to soak in the unique culture and […]
Del Canto Chambers: Universal jurisdiction and self-regulation to tackle tax fraud
Del Canto Chambers: Universal jurisdiction and self-regulation to tackle tax fraud Our Managing Partner, León Fernando del Canto, has published an opinion piece in the Financial Instruments Tax & Accounting Review magazine in which he bets for applying universal jurisdiction principles and CDPs for tax professionals in order to effectively fight against international tax fraud. […]
Del Canto Chambers: fight against tax avoidance is key to restore confidence in tax system
Del Canto Chambers: fight against tax avoidance is key to restore confidence in tax system Our Managing Partner, León Fernando del Canto, has published a piece in the journal Bloomberg BNA on the Joint International Taskforce on Shared Intelligence and Collaboration’s meeting (JITSIC) that took place in Paris Del Canto considers that “narrowing the space […]
Self-employed workers and SMEs, with more margin to defer their debts with the Spanish Tax Agency
Self-employed workers and SMEs, with more margin to defer their debts with the Spanish Tax Agency SMEs and self-employed workers will be able to defer their debts and tax payments such as VAT, income tax or corporate tax after the flexibilization of the deferral system by the Tax Agency. The Ministry of Finance will soften […]
Del Canto Chambers considers a "smokescreen" the floor clauses' extrajudicial process
Del Canto Chambers considers like a “smokescreen” the floor clauses’ extrajudicial process Our Managing Partner, León Fernando del Canto, has published an opinion article in the journal Huffington Post in which he considers the new extrajudicial process that the Spanish government is trying to pass as a smokescreen to not to comply the CJEU’s sentence […]
Schengen after Brexit
Schengen after Brexit Refugees crisis and spread nationalism across Europe have questioned the third-countries visa rules in the Schengen Area, but the real test will be the Brexit that will redefine expats status. Free movement of people, goods and services are one of the basic cornerstones of the EU’s political project. The Schengen Area is […]
The British government eases the inheritance tax regime
The British government eases the inheritance tax regime Real estate wealth in the UK tends to concentrate generationally. The difficulties of young people’s access to this market influence their taxation. In the UK young people will inherit more but in more unequal conditions in the future. This is clear from a report presented by the […]
Del Canto Chambers bets for Spain as British housing investments' destination
Del Canto Chambers bets for Spain as British housing investments’ destination Our Managing Partner, León Fernando del Canto, has published statements in the British magazine Expat Network in which he highlights that Spain, despite Brexit and the Sterling’s devaluation, is still an important destination for British wanting to purchase a property in our country. For […]
Expat Network, Still a Gain in Spain?
04-01-2017 | EXPAT NETWORK Our Managing Partner, León Fernando del Canto, has published statements in the British magazine Expat Network in which he highlights that Spain, despite Brexit and the Sterling’s devaluation, is still an important destination for British wanting to purchase a property in our country.
Del Canto Chambers advocates for the tax advisors' leadership on the fight against fraud
Del Canto Chambers advocates for the tax advisors’ leadership on the fight against fraud Our Managing Partner, León Fernando del Canto, has published an opinion piece in the Spear’s magazine on the consensus necessity among professional international tax advisors and States in the global tax avoidance’s fight. For Del Canto, the starting point is the […]
Del Canto Chambers also bets for the "universal jurisdiction" for tax frauds
Del Canto Chambers apuesta por la “jurisdicción universal” también para delitos fiscales Our Managing Partner, León Fernando del Canto, has published an opinion piece in the magazine Spear’s in which he defends the application of the universal jurisdiction principle for tax crimes to make the fight against international tax avoidance more effective.
Spear's – BVI vs Mossack Fonseca
2-12-2016 | SPEAR’S Our Managing Partner, León Fernando del Canto, has published an opinion piece in the magazine Spear’s in which he defends the application of the universal jurisdiction principle for tax crimes to make the fight against international tax avoidance more effective.
Del Canto Chambers advises British expats to comply their taxation duties in Spain
Del Canto Chambers advises British expats to comply their taxation duties in Spain Our Managing Partner, León Fernando del Canto, has published a statement in the magazine Silver Surfers in which he advises Brexpats who own a property in Spain to comply their tax duties with the Spanish Tax Agency due to the uncertainty caused […]
The Spanish Tax Agency to give back the charged income tax on maternity leave
Madrid’s High Court contradict the Spanish tax authority’s criteria and it recognizes the refund of income taxes paid on maternity leave. The Community of Madrid’s High Court of Justice (TSJM) has recognized to a taxpayer the income tax’s refund paid when receiving a maternity allowance. This judgment contradicts the Spanish Tax Agency’s on this subject […]
Del Canto Chambers: Gibraltar is the yardstick to measure Spanish-UK’s relations
Our Managing Partner, León Fernando del Canto, has published an article entitled “Gibraltar: the yardstick of the future of Spanish and British relations” in The Barrister Magazine, where he analyses the Gibraltar’s current status after Brexit and the Spanish’s co-sovereignty purposes with the United Kingdom.
The Barrister Magazine – Gibraltar the yardstick of the future of Spanish and British relations
17-11-2016 | THE BARRISTER MAGAZINE Our Managing Partner, León Fernando del Canto, has published an article entitled “Gibraltar: the yardstick of the future of Spanish and British relations” in The Barrister Magazine, where he analyses the Gibraltar’s current status after Brexit and the Spanish’s co-sovereignty purposes with the United Kingdom.
The Spanish Tax Agency prioritizes geographical and wealth criteria in tax inspections
The Spanish tax authority keeps its collection policy and it is focused on HNWI and multinationals, increasing its inspections in areas like Costa del Sol and Madrid The Spanish Tax Agency is increasing its tax inspections both HNWI, especially those non-residents owning properties (generally, second-home residences) and multinationals in our country, following wealth and geographical […]
The United Kingdom, seventh competitive world power
The World Economic Forum places the UK among the most competitive economies. The United Kingdom is the seventh most competitive economy worldwide. This has been confirmed in the report by the World Economic Forum (WEC), also known as Davos Forum, which released the ranking of the most competitive economies in the world. Britain has gone […]
When the taxpayer becomes a client
The 31st of October marks the end of the Spanish Tax Agency’s Tax Inspection’s Intensified Action Plan against tax fraud, which has been described as arbitrary and confiscatory by the fiscal sector. Last February, the Spanish Association of Tax Advisors (AEDAF) criticized the plan of incentives against tax fraud that the Spanish Tax Agency negotiated […]
Del Canto Chambers defends the living will in an article published in Spanish journal Cinco Días
The economic journal “Cinco Días” has published an opinion piece by our Managing Partner, León Fernando del Canto, in which he explains what a living will is and why it can be a helpful legal document. The living will, also known as an “advance healthcare directive” allows to clarify a number of instructions or indications […]
A very busy week at Del Canto Chambers
Qatar, United Kingdom and #Apple kept us occupied at Del Canto Chambers this week At Del Canto Chambers, September has started with an interview in The Times regarding the #AppleTax case. Meanwhile, the firm continues to strengthen its position as the first Spanish office in Qatar. Along with Leon Fernando del Canto, our Managing Partner, […]
León Fernando del Canto on The Times: Direct tax is a sovereign responsibility of individual EU states
León Fernando del Canto on The Times: “Direct tax is a sovereign responsibility of individual EU states” The British journal The Times has published some statements of our Managing Partner León Fernando del Canto on the current €13bn’s fine that the European Commission has ordered Apple to pay to Ireland in back taxes. On the […]
Living will as a remedy against medical conflicts when facing death
People deciding to get a living will increase each year in Spain, although it still is a legal resource used by a minority of people in our country. The number of people choosing to get a living will is growing every year. If in January 2013 they were 145,775, in the same month of 2014 […]
The profitability of leading investment funds in Spain almost reaching 30%
Seven of the ten most profitable investment funds in Spain exceed 20 points in cost effectiveness in relation to the amount invested A curious paradox takes place in the market for investment funds in Spain: those leading the performance ranks do not match those which attract the most money to their portfolios. This is due […]
Gibraltar: a nearby destination for international Family Office
Gibraltar, especially in the context of Brexit, is set out to be an important player in the field of Family Offices. Its tax regime is not the only advantage; its regulatory and banking framework withstand the tests of the OECD and the European Bank and regarding Brexit, having signed a number of treaties to exchange […]
Brits who commit fraud risk large fines for tax evasion
HMRC has an ambitious plan against tax evasion that is raising doubts among industry professionals and tax advisors. The British Treasury has launched a plan to prevent tax fraud which seeks to impose sanctions of up to 100% of the taxes evaded. The plan is a continuation of the anti-fraud measures developed by the former […]
Testament and death of a Brit in Spain: what you should know
The existing legislation between Spain and Britain regarding inheritance is complex, mainly because their legal traditions are opposed. While in the UK there is absolute freedom in regards to how the inheritance may be distributed, in Spain by law there is a system which reserves a portion of the inheritance to the so-called “legitimate heirs”, […]
Cinco Días – inspection activity of the Tax Authorities in Costa del Sol
27-07-2016 | CINCO DÍAS The Finance Newspaper, Cinco Días, published a column by our Managing Partner, Leon Fernando del Canto, on inspection activity of the Tax Authorities in Costa del Sol, Andalucia. The article is directed mainly to foreign residents with high purchasing power: Spanish Tax Authorities and foreigners.
Game of drones: the Spanish Tax Agency uses those devices to reveal a massive tax's fraud
Tax authorities reveal more than one and a half million non-declared properties in Spain. Its impact on immovable property’s tax collection it is a lifeline for councils’ accounts. The Spanish Tax Agency have discovered 1.690.000 non-declared properties for immovable property tax (IBI) in Spain. The investigation has been taken part by the General Directorate of […]
Seven tips that you should know about the new tax amnesty prepared by Turkey
The Turkish government is completing in its parliament a tax amnesty to attract assets Turkey in the last years is conducting an adaptation process to international common standards on transparency in the international automatic exchange tax information field. In this regard, the Turkish government submitted to its parliament a draft law to enhance the investment […]
Sterling drop cheapens the expats British pensioners
British pensioners on abroad have experienced how their pensions have dropped until a 10% and they are afraid of losing even more purchase power. The Brexit still has consequences, mostly negatives, for the British economy. Shortly after the referendum, the sterling pound felt in the markets and it reached unremembered values since 80’s, while authorities […]
A week marked by the Brexit and… the "Bankxit"
The Brexit’s effects and those caused by the CJEU’s Advocate General’s line on mortgage-floor-clauses in the Spanish banking sector fill our first week up. Lawfirm Del Canto Chambers’ blog started this first July-summer-week a new stage to became a reference blog on commercial law, fiscal law and Private Clients in the UK, Spain and Qatar […]
Brexit's consequences fail or chance?
In London and in the rest of the European continent the strategies to avoid Brexit’s negative consequences and to take advantage of its opportunities are being redefined. The Brexit’s economic and juridical consequences do not stop but after the first shocking days, the strategies are being redefined now in both sides of the Channel. Firstly, […]
UK's EU workers react to Brexit: "The decision shows that this issue is not just limited to the UK"
They told us their worries about the prospect of Brexit, now the UK has voted for it Britain’s workers share their reaction. Europeans living in the UK have expressed alarm about their future after Britons voted to leave the EU. There are 3 million EU citizens living in the UK, and although their status will […]
Living in Madrid
This week in London I noticed how Spanish gastronomy, music and fashion is going mainstream again. I am not talking about cheap paella, tacky folklore music or flamenco dresses. I saw gourmet restaurants in W1 and great street’s food at Candem Town inspired by Spain, watched designers’ cloths and listened to contemporary music -all with […]
Foreign Notary Deed in Spain
A recent press release from the Consejo General del Poder Judicial (General Council for the Judiciary) reports an interesting ruling of the Spanish Supreme Court. The decision, of 19 June 2012, ratifies the one of the previous instance according the registration in a Spanish Land Registry of a deed of sale of an immovable located […]
Jersey Threatens to Break with UK over Tax Backlash
An article in The Guardian by Simon Bowers reports that ‘the island should be ready to become independent, says senior minister after political attacks on finance industry.’ The full article can be found at The Guardian here, or can be read below: A barrage of regulatory clampdowns and political attacks on the Channel Islands’ controversial […]
Is Marriage a Legal Contract?
In the Volokh conspiracy blog, the question about marriage being a contract is asked. He responded “I thought I’d respond to this on-blog because it illustrates a considerably broader point: In law, as in life, concepts like “contract” aren’t unitary things, so that either something is a contract and has all the properties of a […]
The average tax burden on earnings in OECD countries continues to rise
The average tax burden on earnings in OECD countries continues to rise Published in OECD Tax News – 25/04/2012 25/04/012 – The average tax and social security burden on employment incomes increased in 26 out of 34 OECD countries in 2011 according to the new OECD Taxing Wages publication. Tax payers in Ireland, Luxembourg, Portugal and the […]
