Quote Originally Posted by Patricia View Post
Hello MarkW,

The transaction you will be doing is not a dissolution of jointly owned property, but a sale of shares, that is taxed in the same way as an ordinary sale. Having said this, this is the applicable Tax and costs the transaction entails:

• Transfer Tax ( ITP ) 10% of the share being transferred: 9,000 Euros
• Plusvalia: TBC with the Moraira Town Hall
• 3% retention: 2,700 Euros
• Notary costs: TBC
• Land Registry: TBC

If it had been a dissolution of jointly owned property, the ITP would be 1.5%. I believe you got confused between transfer Tax and Plusvalia.

If you need further assistance, please do not hesitate to drop us an email.

Regards,
Hi Patricia,
Thank you for your reply- I really appreciate it.
May i ask you whether the ITP is paid by the seller or the buyer, or jointly split?
Secondly, does this mean that the 'Dissolution of Joint Ownership of Property' is not applicable to us?

So, please is there another option available to us- maybe in UK
or, are we stuck with the 12,000+ fees?
Kind regards
Mark