Dear experts,
Our family is planning a re-location to Spain with residency. We are planning to rent out our UK home (our principal residence since purchase) and rent in Spain until we are sure the ‘venture’ is a success. We would then sell in the UK and transfer the equity to purchase a new home there. So most probably we would be keeping the UK property for a further 18 months to 3 years after assuming residency in Spain.
I have read that I may have a future tax liability to the Spanish authorities upon the sale of this property in the UK?
Alternatively I have read that I will have a liability only in the UK for the period that I rent out the house?
I would be very grateful if anyone can point me at a definitive statement about, what must be, a standard situation.
Many thanks for your assistance.
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