Important notice when renting your villa in Mallorca
It is a lucrative income when renting luxury villas or apartments anywhere in Mallorca but sometime it can become a tax nightmare when the inspectors knock on your door.
To rent out villas in Mallorca it is important that the rental agent is a registered member of the Association of villa Agents, a non profit Association founded in 1999 and officialy licensed to trade holiday properties in Mallorca. The association if formed by various local agents from Pollença and Felanitx together representing over one thousand holiday villas in Mallorca and Menorca.
Balearic Properties Real Estate S.L. together with Villas de Pollensa S.l are official partners of the Association.
Please feel free to contact our offices for more informations at:
Villas Pollensa: Plaça Munares 4 , 07460 Pollença, Mallorca . Website: www.villaspollensa.com
Balearic Properties Mallorca: Via Pollentia 3, 07460 Pollença, Mallorca. Get the Google Map address
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A recent article in thisismoney.co.uk explains how the spanish government is seeing for the taxes of the income from rental:
The first targets for Government investigators seeking to clamp down on tax-dodging among the rich will include Britons with overseas holiday homes, HM Revenue and Customs has confirmed.
Tasked with uncovering tax evasion among the most affluent in society, a new 200-strong unit has been set up within HM Revenue and Customs (HMRC).
Using sophisticated ‘data mining’ technology to identify those who own property or land overseas, risk assessment tools are then used to flag up where people appear either not to be able to afford the property or are not declaring the right amount of income or gains from it.
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