Holiday Rental Accounting Service (HRAS)

Taxation

When you rent out property in Spain, whether short or long term, you must file and pay a quarterly tax on your rental income (in Spain). Failure to pay, will attract penalties, delay interests and surcharges.

 

The explosive two-digit year-on-year growth on rental income we have witnessed over the last years in Spain has brought a huge demand for professional holiday-home rental accounting services.

 

Our law firm offers a bespoke rental income accounting service for both legal and physical landlords.

 

Our team of dedicated lawyers and economists will file and lodge your quarterly tax forms for a very competitive fee. Because of how admin intensive this procedure is and the need for specialized tax software, no landlord can realistically hope to complete it on his own without attracting fines & penalties.

 

Our Holiday Rental Accounting Service (HRAS) offers all the following advantages:

 

  • You will only deal with native English-speaking lawyers and economists.
  • Calculate and apply for landlord tax relief (on average these tax allowances reduce a landlord’s tax bill by 30 to 40%, irrespective of whether he is a non-resident; but must be EU/EEA-resident).
  • Complete the quarterly tax forms in Spanish.
  • Ensure you do not overpay on calculating the tax due on your property based on its rateable value and the number of days you have owned it on a pro rata basis when it is not rented out.
  • Submit the tax returns before the Tax Office in a timely manner (thus avoiding attracting penalties and surcharges on late payment).
  • Setting a fiscal representative’s address to deal with all tax-related correspondence generated throughout a fiscal year.
  • Reply to any tax notifications within the deadline ensuring tax compliance.
  • Appeal misunderstandings or material errors.
  • Mandatory Professional Indemnity Insurance which you can claim from in case of negligence or malpractice. Currently this cover stands at €800,000 with Larraín Nesbitt Lawyers.
  • Up-to-date knowledge on fast-paced fiscal changes.

 

 

Legal fees: on application

 

We will be very pleased to discuss your matter with you. Please contact us for a free initial consultation. You can contact us by e-mail at info@larrainnesbittabogados.com, by telephone on 951 894 675 or by completing our contact form.

 

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