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Thread: Spanish Inheritance Tax: How much is it?

  1. #111
    Linda
    Guest

    Default Spanish Inheritance Tax: How much is it?

    Hi I am resident in Spain and last year was left a share in my mothers house, this was sold and the solictor acting for the family sent my share to my bank in Spain in July 2012. No tax was liable in the Uk . My question is how much tax must l pay in Spain as my family in the uk paid none but l am under the impression as l am resident in Spain l am liable for Tax here. Also do l declare it next year?

  2. #112
    Mo Jean Buttivant
    Guest

    Default Spanish Inheritance Tax: How much is it?

    Hi there, I have just made a Spainish Will making my Sister the sole beneficary. I am a Spanish Resident living in Mallorca some 10 years now, I am divorced (UK)and have no children. I am receiving conflicting information re the inheritance tax my sister will have to pay should she sell my property after my death. She lives in the UK. Can you please resolve this confilicating information. Also should my sister die before me then my property will go to her two children who also live in the uk. Can you please advise what they would have to pay to receive my property. They are both adults. thridly, would it be better if I sold my property to my sister prior to my death and if so what would she have to do and pay. Many thanks.
    PS: I have read lots of your helpful reviews here and it is so refreshing to get some staid answers. Mo Jean Buttivant.

  3. #113
    Mo Jean Buttivant
    Guest

    Default Spanish Inheritance Tax: How much is it?

    PS to my note above.

    My property let say it is worth 200,000 euros which may help for the sliding scale that my sister or my niece and nephew may have to pay in inheritance tax. Also would any of the above relatives have to pay a tax in the UK as they are all residents there ? Thank you. Mo jean

  4. #114
    Kelly
    Guest

    Default Spanish Inheritance Tax: How much is it?

    Hi I am just asking for advice about inheritance tax as my dad died in January & as far as we know left a Spanish will leaving everything to me. What sort of inheritance tax would I pay on an apartment worth approx 60,000? I am a little confused by it all. Thank you

  5. #115

    Default

    Hello Kelly,

    You will be liable for the corresponding IHT on the property you are inheriting in Spain.

    The final figure depends on many variables, such as the particular province where the testator resides, number and age of heirs, grade of family relationship, whether the property is a primary residence or not, residency status of testator, residency status of the heirs, value of assets, etc.

    If you read the following articles written by one of the lawyers at the Lawbird team about the Spanish tax system and other useful information about Inheritance Law in Spain, you will find various examples and scenarios so you can have a clear picture on how the process is and the taxes you may expect to pay.

    Spanish Inheritance Tax: Advantages of Making a Will in Spain

    Applicable Inheritance Law to Estate Located in Spain

    Spanish Inheritance Tax: How much is it?



    Regards,
    Last edited by Patricia; 02-26-2013 at 03:50 PM.
    Patricia Martin
    Legal Assistant at Lawbird
    Check My Profile

  6. #116
    Gillian
    Guest

    Default Spanish Inheritance Tax: How much is it?

    Hi My husband inherited a property in Spain from his mother, both are french, his mother left the property to both himself and his sister in equal parts and the use of the property to her partner at the time they were not married. They are no longer liable for tax as she died more than 5 years ago. but his sister is refusing to validate the will and the property is falling into disrepair as neither she or his mothers partner have the funds to pay the yealry taxes or the upkeep of the house and is is empty, we have paid some monies for work that needs to be done and local taxes. Can we force his sister to sign the will, or what will happen to the property as no one has lived in it since his mother died.
    many thanks

  7. #117
    Junior Member
    Join Date
    Jun 2013
    Posts
    1

    Default

    Could you give her a rough idea of costs incurred to take dads name off the deeds and to make a spanish will, leaving the property to myself and my sister and all taxes involved in this?

  8. #118
    Senior Member
    Join Date
    Oct 2008
    Posts
    312

    Default

    Hello Taotaoali,

    The typical costs will be as follows:

    1. Stamp Duty: 1.5% of the property value (it is important that the right value is established on the deeds, by reference to the previously declared value and the current “fiscal value”, as established by the Tax Office).

    2. Notary fees: Approximately 1,200 Euros

    3. Land registry fees: Approximately 1,100 Euros

    4. Legal fees : depending on the law firm you choose.

    If you require any other information regarding this matter please feel free to contact me directly.
    Marta Flores
    Legal Assistant at Lawbird
    Check My Profile

  9. #119

    Default

    Hello Gillian,

    This query cannot be replied as a general answer as there are various factors to be considered; If the will was made in Spain or abroad; nationality and marital status of the parties involved and if an inheritance process has taken place in another country. Therefore, we kindly request you to provide with more information. For than end, we recommend you to contact us by email.

    Regards,
    Patricia Martin
    Legal Assistant at Lawbird
    Check My Profile

  10. #120
    Emily
    Guest

    Default Spanish Inheritance Tax: How much is it?

    Hi my mum and dad own a house in Murcia. Sadly my mum has passed away suddenly with out writing a Spanish will. My parents were not married and own a property in England and have a English will for that property. What will happen to the Spanish property now? Thank you

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