Santander Shareholders - Have You Completed Your Form 210 ?

molerat

Anyone actually submitted a Form 210 ? Seems a bit of a faff to get an exemption via a certificate from HMRC. What are the chances of the Spanish authorities levying €100 / €200 penalties and if they do what chances do they have of enforcing them apart from on those who decide to holiday in Spain.

Vegastare

Must admit totally confused by the Shareholder letter got this morning, like many inherited shares and have never thought about selling them. Have thought that the selling would raise issues and the need for Form 210 from HMRC, but now it seems whether you choose option 1 or 2 you should have the form.

If it is the case more work for HMRC. Partner did sell some Spanish Shares a few years back and he had to obtain a certificate from HMRC. It meant he was excempted from Spanish with holding tax.

Am hopeful Morelat will get some answers.

Has anyone actually sold Santander shares and submitted the form and how did they do it

jennyjj

One company that specialises in assisting Santander Shareholders to comply is http://www.spanishtaxforms.co.uk/spanish-shares.html#do+it+myself

They say "Santander shares, sale of rights

By the letter of the law, income from the sale of rights on behalf of Santander shareholders gives rise to a requirement to submit a tax form to the Spanish tax authorities. We can do this for you. However, unless your gain is significant, you may decide that this is disproportionate and unnecessary. If you make this decision, it is extremely unlikely that any action will follow."

It's all a real Pain in the 4r53! Especially if the original shareholding was from the Abbey National float and has changed hands through bequests.

It's a gamble: Do we ignore the requirements completely and hope the Spanish Authorities cannot be bothered to chase millions of Euro in fines from many thousands of easily identified Brits? Complying with the rules seems to need to be done by January and will cost 10s of pounds and still be a faff.

Vegastare

Another question if you have/had one of the forms from HMRC regarding having Brit tax status several years back do you need another. Will Spanish still hold details of this.
Partner has submitted one about 5 years back, but how long does it last. Will he need to do it again (it was not for Santander shares) he holds more shares in both Santander and another company (Spanish)

As for me am thinking of selling in next few months.......if the cost is not prohibative. Feeling is if they don't nab us yet they might do in a couple of years...post Brexit

molerat

It looks like you have to submit the form and certificate from HMRC each year. I think (not sure) that you have to register, on a site that is only available in Spanish, to be able to submit the form on line. I bet they would not allow a Brit bank to buy one of theirs and then insist the shareholders jump through Brit tax hoops, they have obviously been taking lessons from the Merkins !