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Posted Tue, 05 Mar 2024 18:04:44 GMT by Catherine Knight
Is Plusvalia tax an allowable cost of sale for UK Capital Gains? If not, is it allowable as a tax credit under DTR? (The Spanish accountant has deducted it as a cost of sale in Spain, although obviously the same treatment may not apply in the UK) Thanks
Posted Wed, 06 Mar 2024 10:06:16 GMT by HMRC Admin 25 Response
Hi Catherine Knight,
This is the equivelant of Stamp Duty Land Tax and would therefore be allowable as an expense.
Thank you. 
Posted Wed, 06 Mar 2024 13:32:12 GMT by Catherine Knight
Thank you
Posted Fri, 16 Aug 2024 11:42:31 GMT by sburg966
I understand from the above plusvalia tax is the equivalent of UK SDLT, the spanish authorities also retained a flat 3% retention against tax in my current situation, would this get foreign tax credit relief in the UK?
Posted Wed, 04 Sep 2024 08:09:55 GMT by HMRC Admin 25 Response
Hi sburg966,
If it falls under any listed here:
DT17551 - Double Taxation Relief Manual: Guidance by country: Spain: Admissible taxes
Then yes.
Thank you. 


 

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