How To Safeguard Against Spanish Inheritance Tax
Hello Fellow Members,
I have just purchased in Spain and was advised by my Agent as how to combat Spanish Inheritance Tax. They informed me that if I buy the property in a UK Limited Company and not my own name, I could leave the shares of the Company which I own instead of the property to my Heirs & Beneficiaries, so NO IHT in Spain would be payable.
I followed their advice and have now also produced a UK Will, which instructs to leave my shares of the Company to members of my family. This means that when I pass away no Spanish Inheritance tax will have to be paid by them, as they will inherit a UK Limited Company that owns the property, and not the property its self. Therefore Spanish Inheritance Tax is irrelevant and completely removed.
Also if I wish to sell the property, I will not have to pay any 3% Withholding Tax which none Spanish Domiciled People have to pay when they sell the property, Secondly anyone who wishes to purchase the property from me do not have to pay the 7% Transfer Tax. This is because when I sell, I will not be selling a property, but will sell the UK Limited Company which owns the property, so no Taxes are payable in Spain.
My Agent who is also a Corporate Property Ownership Consultant can assist anyone who wishes to purchase or own in a UK Limited Company, appose to his or her own names. If you have a buyer of your property then my Consultant can help save the 10% Spanish Taxes in a totally Legal way as well.
If anyone else has suggestions of how to save IHT in Spain then I would love to hear them but my research so far shows this is the only true way around it. I am happy to pass on my Consultants details to anyone who would like to contact them.
Spanish Succession Tas & avoidance thereof.
The Wincham Inheritance Tax Protection Strategy
Has anyone checked out this bright idea?
Thread on Spanish Inheritance Tax
Wincham and Westholme Corporate Developments have the same address in UK. They are the same or at least linked companies.
Question regarding same address
Wincham Investments Ltd helps manage over 700 client companies from the UK office and the office in Spain, all our clients use the same registered office address and company secretary service,but Wincham has no control or ownership of the companies
I hope that clarifies the situation
