Brexit, Spain and UK tax update

Aug 05 2016

Brexit, Spain and UK tax update

Wincham International Limited 2016

Many of our Wincham Clients have been asking about the implications of the United Kingdom leaving the European Union, and how this may affect their ownership of properties in Spain – either privately or within a UK Limited Company structure.

BREXIT – Here at Wincham, we are monitoring the situation very closely, and take this opportunity to assure you that we are, and will continue to be at the forefront of events as they develop. We will be poised to anticipate and to deal with any changes that may occur over the coming months and years; ready to apprise you of any impact such changes could have on the structure of assets that are held in Spain. We will communicate updates to you, as and when developments occur.

Between our UK and Spanish Offices, Wincham manages over 500 UK Limited Companies owning property in many regions throughout Spain. Our clients continue to use Wincham, confident in the knowledge that their Legal and Financial affairs are well taken care of.

It should be remembered that Trade Treaties have operated between the United Kingdom and Spain for many years and have existed long before the United Kingdom entry into the EU in 1973. Accordingly, and certainly for the foreseeable future, no notable changes are expected in the way the UK and Spain interact commercially. Following the implementation of “Article 50” the treaties currently existing will remain in place for at least a further two years until any future agreements are negotiated.