Holiday Rental Accounting Service (HRAS)

Raymundo Larraín Nesbitt, January, 15. 2018

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
16^th of January 2018

The explosive two-digit year-on-year growth on rental income we have witnessed over the last years in Spain has brought a huge demand for professional holiday-home rental accounting services.

Larraín Nesbitt Lawyers is a Spanish law firm that offers a bespoke rental income accounting service for both legal and physical non-resident landlords. We file taxes all over Spain.

Our team of dedicated lawyers and economists will file and lodge your quarterly tax forms for a very competitive fee. Because of how admin intensive this procedure is, and the need for specialized tax software, landlords should not realistically hope to complete it on their own without attracting fines & penalties.

The most interesting part of our accounting service is that we reduce taxpayer's bills by 70%, or more, on average.

Following a new ruling from the European Court of Justice, we can now offer non-resident landlords generous tax relief. We can deduct all or part of your property-related VAT invoices. For a full list of tax-deductible items you can read our tax article: Holiday lettings: “Con factura, por favor.”

Property owners who rent properties out in Spain (whether long or short-term) and hire us, save quite a bunch in taxes. Real client examples of quaterly tax savings: Renting in Spain: are you still overpaying income tax every quarter?

"We will save you more money on taxes than what you spend on hiring us."

We take the stress off your taxation freeing you up, so you can relax and spend more time enjoying what you value most in life.

For 2019, the non-resident tax calendar is as follows:

Q1 2019 January – March. Filed on the first 15 days of April.
Q2 2019 April – June. Filed on the first 15 days of July.
Q3 2019 July – September. Filed on the first 15 days of October.
Q4 2019 October – December. Filed on the first 15 days of January 2020.

Our Holiday Rentals Accounting Service (HRAS) offers all the following advantages:

We reduce landlord’s tax bills by 70%, or more, on average through tax relief.
Money-back guarantee. We will reduce your tax by a minimum of 40%, or your money back, no questions asked. All EEA/EU non-residents can benefit from this, including UK-residents (luxury rentals are excluded from this offer).
Deal only with native English-speaking lawyers and economists. No more ‘lost in translation’ shenanigans.
Registered professionals at the Spanish Law Society and Economist's Society.
We are members of the British Chamber of Commerce, Spain.
Very competitive fees.
Fast, responsive, easy-to-understand tax service.
We will let you know exactly (in %) how much tax we have saved you through our tax service.
Complete the quarterly tax forms in Spanish. We will email you a copy once filed for your records and for your peace of mind.
Submit the tax returns before the tax office in a timely manner (thus avoiding attracting penalties and surcharges on late payment).
Setting a fiscal representative’s address to deal with all tax-related correspondence generated throughout a fiscal year.
Reply to any tax notifications within the deadline ensuring tax compliance.
Appeal misunderstandings or material errors (additional fees may apply).
Mandatory Professional Indemnity Insurance which you can claim from in case of negligence or malpractice. Currently this cover stands at €1,000,000 with Larraín Nesbitt Lawyers.
Up-to-date knowledge on fast-paced fiscal changes.

Legal fees: €125/tax quarter/per property

Larraín Nesbitt Lawyers, small on fees, big on service.

Larraín Nesbitt Lawyers is a law firm specialized in taxation, inheritance, conveyancing, and litigation. We will be very pleased to discuss your matter with you. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 952 19 22 88 or by completing our contact form.

Tax & legal services Larraín Nesbitt Lawyers can offer you

Holiday-home letting related articles

Renting in Spain: Top Ten Mistakes – 8th of June 2011
Let-to-Buy in Spain: The Smart Choice – 8th of April 2012
Letting in Spain: The Safe Way – 10th of October 2012
New Measures to Bolster Spain’s Ailing Rental Market – 8th of July 2013
Tenant Eviction in Spain – 8th of June 2014
Holiday Rental Laws in Spain – 8th of March 2015
House Hunting in Spain – Interview with The New York Times. June 2015
Taxes on Buying Spanish Property – 8th July 2015
Non-Resident Taxes in Spain – 8th December 2015
Resurgent Spain: Málaga Sees Strong Sales – Interview with Mansion Global (The Wall Street Journal). December 2015
Holiday Rental Laws in Andalusia (Decree 28/2016) – 8th of February 2016
Decree 20/2002: Andalusia’s Holiday Rural Rental Decree – 8th of April 2016
Urban Rental Law in Spain – Spain's Tenancy Act – 8th May 2016
Buying Property in Spain – 10 Reasons to Hire a Lawyer – 8th November 2016
Renting in Spain - Landlord´s Taxation – 8th of January 2017
Renting in Spain: Non-Resident Landlord's Rental Tax Relief – 14th of January 2017
Buying Property in Spain from a Private Seller (Resale Property) – 21st of February 2017
Buying Property in Spain from a Developer (Off-Plan Property) – 8^th March 2017
NIE Number Explained – 8th May 2017
Community of Owners in Madrid to bar Holiday Rentals – 29th June 2017
Holiday Rental Home Taxation in Spain – 8th July 2017
Holiday Rentals in Andalusia Made Easy – 3^rd July 2017
How to inspect an off-plan property overseas – Q&A with The Sunday Times. July 2017
Holiday-home lettings: Do NOT register with Andalusia's Tourism Registry unless you are fully compliant – 21^st of July 2017
New Balearics Holiday Rental Law – 8^th of September 2017
Seasonal lets: an alternative to holiday home rentals – 8^th of October 2017
Let-to-buy contracts: do not forget to add a clause forbidding sublets! – 20^th October 2017
The magic of lettings in Spain – 21^st November 2017
Non-Resident Income Tax – 8^th December 2017
7 illegal clauses in Spanish rental contracts – 8^th January 2018
Holiday Rental Accounting Service (HRAS) – 16^th January 2018
Holiday Rental Taxation in Spain – 8th July 2018
Renting in Spain: are you still overpaying income tax every quarter? – 16^th October 2018
You are taxed at source on renting out in Spain – 30^th November 2018
Did you get an email from AirBnb over your Spanish tax details? – 21st December 2018
Important information from the Spanish Ministry of Finance – 7^th January 2019
Holiday lettings: “Con factura, por favor.” – 21st January 2019
Holiday lettings: VAT invoice dissected – 11th February 2019
Save 70% on your landlord tax bill – 8th March 2019

Please note the information provided in this blog post is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.