I believe we will need to pay taxes in October, December and April 2017 around 4,000€ each time and then a final bill next June for around 10,000€.
But, we have a real estate business and the Brexit vote has hit our company hard in the last 2 months. We are very concerned about the next quarters sales and what we can do if they simply do not materialise and the business fails.
I have also received a tax bill for around 4,000€ from 2013 - no idea what for and my gestor has still not managed to shed any light on this - just when we don´t need it!
We have enough money in the bank for around 3 to 4 month trading - 20,000€ and enough to pay the next 2 tax payments. But at hat point we could literally be broke which would make it incredibly difficult to re-locate to UK, buy a car and try and start another business.
So at this point we have not missed any payments for the SLU but it could very likely happen, very soon.
My wife wants to try and sell the business side and is intent on returning to the UK at this point which leaves me in a difficult position as I am trying to keep the business going and do not one to simply walk away and leave money owing to the Hacienda.
What would be my position in the UK with regards to around 22,000€ tax bill in Spain accumulating over the next 12 months? I actually can start a new business immediately which I can probably grow quickly over the next 6 months and would then be at a point to make repayments. My worry with the Spanish tax authority though is they charge huge levies on late payments (up to 50% of the amount) which is exactly the opposite of actually helping people who are in difficulty.
Its not a huge debt and likely manageable BUT if they start adding fines and fees I fear it could spiral out of control in the 6 or so months we need to start earning again....
Would my options in this scenario be to contact CAB and have the debt managed as I would then be a UK resident? This may stop them from pushing the debt through the roof and allow me to repay it over time - or is there something else along those lines I can do?