Recent posts

Spain / Re: MOD 720 Conversion Factor
Last post by NAH - Sun 16 Jul 2023, 23:38
All fines related to MOD720 cancelled by the Hacienda:

Canary Islands / Re: Large Fire In Apartment Bl...
Last post by NAH - Wed 7 Dec 2022, 13:19
Quote from: macdonald5 on Wed  7 Dec 2022, 09:47
Oooh looks bad ,hope all ok  :03:

In total, 16 apartments were affected with six destroyed or seriously damaged, and at this moment in time, it is not known how the fire started, but the emergency services have reported that five people have been treated for serious smoke inhalation.

Could have been a lot worse.
Canary Islands / Re: Large Fire In Apartment Bl...
Last post by macdonald5 - Wed 7 Dec 2022, 09:47
Oooh looks bad ,hope all ok  :03:
Canary Islands / Large Fire In Apartment Block ...
Last post by NAH - Tue 6 Dec 2022, 23:15
Six apartments on fire in Playa Paraiso :link:

Spain / Día de Canarias
Last post by NAH - Tue 31 May 2022, 21:24
Hope everyone had a good Día de Canarias yesterday.

Celebrating tonight with some 'Carnaval' Dorada. Image below is this years collection.

Spain / Re: MOD 720 Conversion Factor
Last post by NAH - Sun 27 Mar 2022, 20:54
For those that need to submit a MOD720 this year, remember that you've only got three days left to complete the submission. Must be done by the end of March.

@Nova I hope you've done yours already, as I remember you have to do one this year.
Spain / Re: MOD 720 Conversion Factor
Last post by Delderek - Sun 30 Jan 2022, 09:06
March, didn't say which year ;). But just think of all that lovely information they have gathered so far. I bet that is tucked away in some hidden file. :03:
Spain / Re: MOD 720 Conversion Factor
Last post by NAH - Sat 29 Jan 2022, 22:56
In its recent judgment of 27 January 2022, Case C-788/19, The Court of Justice of the European Union (CJEU) rules on the infringement action brought by the European Commission on 23 October 2019.

The CJEU has overturned the Tax Agency's Form 720, which obliges taxpayers to declare assets abroad, on the grounds that it is contrary to EU law, that the conditions and penalties set out in the regulation are "disproportionate", and that Spain has failed to comply with its obligations under the free movement of capital as they may discourage the acquisition of goods abroad.

Taxpayers will be able to recover the amount of the penalties for this tax model now rejected by the European Court of Justice. The Treasury will have to return the penalties even if they are firm and uncontested, by means of the State's patrimonial responsibility.

Spain must now comply as quickly as possible with the CJEU ruling, which is binding. If it fails to do so, the European Commission can go back to court and ask for financial penalties to be imposed.

The Ministry of Finance has commented that it will reform the system to bring it into line with European standards before the end of March.

Spain / Re: MOD 720 Conversion Factor
Last post by NAH - Wed 26 Jan 2022, 11:59
@TOTO 99 I'm fully aware of how much you end up doing free of charge when you're a director.

We also have around an acre of woodland as well as numerous other individual trees around the site. Quite a few of the trees have TPOs on them as well, so I'm fully aware how much a tree surgeon costs.

I am one of four directors, two currently live on site but one of those has his apartment on the market so once sold will no longer fulfil the criteria to be a director, which will leave only one living on site. Don't get me wrong, I'm not ageist, but he's 79 this year and not in very good health.
Spain / Re: MOD 720 Conversion Factor
Last post by TOTO 99 - Wed 26 Jan 2022, 11:21
Quote from: NAH on Wed 26 Jan 2022, 11:08
It's all MOD720 related so no worries :)

One of the other directors lives on site but honestly he struggles to use email so the thought of him attempting to pay bills using online banking and produce financial reports using Excel terrifies me.

That's fair enough. I'm one of 3 directors and I'm the only one on site. The other two trust me to make the right decisions and I always involve them if there's anything expensive happening. Like the £3k I've just had to sanction for cutting back some trees. They asked me does it really need doing and I said yes. They are happy to take my word for it.
Being a real life contractor myself  means I know what to look out for. They appreciate that.

It needs trust when remote directors are involved. I think you will have to be happy that they are on site and trust them to make decisions. You stick to the finance side. It's all too easy to get dragged into doing more than is really necessary, as I'm sure you're fully aware. I know I am... :giggle: