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Brits 'entitled to rebate after Spanish tax error'

British property investors have been informed that they may have paid out too much in tax to Spanish authorities.

According to lawyer Emilio Alvarez, many property owners from the UK have collectively paid about £37 million more in capital gains tax than they should have done when selling their homes.

This error, which applies to sales between March 2004 and December 2006, came about because foreign nationals are charged more than their Spanish counterparts on any capital gains they may have earned.

However, Mr Alvarez has said this is not allowed under EU law and that those affected should be entitled to get their money back.

He commented: "This tax trap is thought to have affected hundreds of thousands of people across Europe and in the UK."

Mr Alvarez added that only those who have bought a property in the last four years are entitled to get their money back due to "stringent legal restrictions".

According to Holiday-Rentals, Spain accounts for nearly one in three British-owned properties in Europe.

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