Could international money transfers help with rebate?

International money transfers could help Britons to keep more of their tax rebate if they were caught out in Spain.

The Mediterranean country illegally charged Britons selling property between 1997 and 2006 more than twice the normal rate of capital gains tax.

Brits were hit with 35 per cent taxes while Spanish residents paid just 15 per cent.

The country has since acknowledged the error and Britons are able to reclaim the money.

But Mark Bodega, director of HiFX, told the Daily Telegraph that not everyone has made the effort to get back their money.

He told the paper: "We estimate that there are still thousands of Brits who sold Spanish properties in the eligible time period who haven't come forward.

"We'd advise anyone who thinks they might be eligible for a claim to go to the Spanish Tax Reclaim website, which was set up specifically to deal with the problem."

With the average claim coming in at around £15,000, it could be well worth the effort to make a claim before the end of July to ensure that you don't miss the deadline of October this year.

Click here to make an International Money transfer to Spain

Posted by Chris Barber