The “Modelo 720” form, is basically a declaration of overseas assets for people living in Spain, that is to say, assets held outside of Spain. Spanish tax residents are obliged to fill out this 720 tax form and make the tax authorities (“Hacienda”) aware of their fiscal activity in other countries.  All physical or legal persons resident in Spain who own assets outside of the country with a total value of more than 50,000 euros on 31st December of the previous year must submit Form 720. This includes the following assets: bank accounts in financial entities abroad balances, incomes, insurance

UK citizens who are self-employed in Spain have been facing some strict rules and request for further documentation when it comes to registering as residents. In some places like Malaga they are really strict, and UK citizens have been getting letters that state the following:  Documentación acreditativa del ejercicio efectivo de la actividad profesional por la que ha cursado el alta en el Régimen Especial de Trabajadores Autónomos o por Cuenta Propia (entre otra documentación habrá de acompañar, en su caso, declaración trimestral del pago fraccionado del IRPF – Modelos 130 ó 131 -, declaración trimestral del IVA – Modelo

If you are a British non-resident in Spain and have one or more rental properties in Spain, you have reason to be concerned about your tax bill after Brexit. Since January 1, 2021, British citizens, not residents in Spain are considered «non-EU». This will significantly affect the Non-residents tax return as we will explain in detail in this article.  Spanish tax legislation establishes differences in this tax between community citizens of the European Union (EU) and those of the rest of the world, with a tax of 19% on net income for Europeans and another of 24% on gross income