Transferring money from Spain to UK

Mar 07, 2004 1 Replies

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Ellis 22 years ago

A friend of mine owns a property in Spain. Recently her husband died and she has now put it on the market as she can no longer look after it. People have told her that when she sells the property she wont be able to transfer the proceeds to the UK. Can anyone confirm that this is true.

Thanks

Ellis

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Jonathan Bryce 22 years ago

Doubt it. I can see no reason why it can't be transferred to the UK. There may be Spanish capital gains tax to pay on the proceeds, and also UK CGT, subject to double taxation relief.

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