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UK Company owning Spanish property

ShanieShanie MAAT, AAT Licensed Accountant Posts: 5

I have a client who has set up a UK Company and purchased a property in Spain for €80k for personal use and rental income. I have advised the client they need to register with the Spanish authorities and make declarations there. I will be preparing the UK company accounts and CT600. I have been researching this and found that if no physical rent is paid when the property is available for personal use that a market value must be declared as rental income in Spain. Would I need to declare the same amount in the UK accounts? Any advice on this would be much appreciated as I can only find online what to do from the Spanish side, but not the UK side.

Thank you in advance.

Kind regards,

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