Spanish Inheritance Tax: How much is it?

[aflores]

Hello Ron,

In order to be fiscally resident you have to apply for residency at the Police Station. Generally speaking (and legally applicable in most regions in Spain), one has to be resident for at least 5 years prior to the death of the testator that gave rise to the right to inherit. I can however share with you a secret: in Marbella, we are registering all the clients who we represent for inheritance matters with the police station, as residents, just a few days before submitting the deeds and paying the taxes (with the allowance!).

I hope the Oficina Liquidadora de Marbella (Tax Office) does not read this (they happen to be 3 floors under us)!

[A Bowry]

My husband has just died and we have a small property in Spain 79,000, I have been told that I have to pay inheritance tax on his half 40% of 40,000 is 40% the correct amount on this purchase price of my apartment
Please confirm there is so much to deal with here and in Spain it makes your head spin
thank you

[aflores]

Dear Madam,

I have never heard of anyone being hit with a 40% tax bill, certainly not at the levels of asset value you are mentioning. You are more likely in a single digit %, and your tax is unlikely to exceed 2.000 Euros. If you need further (and objetive) help this is the place to find it!!

[Susie]

Hello,
I recently lost my Mother; her and my Father owned a propety in Catalonia (they are both French non Spanish residents) and after numerous bad advice, we (my Sister, Dad and myself) have found out we needed to file for inheritance tax within 6 months.
My sister and myself (both over 21) have both applied
for a NIE number but it looks like they will come through too late to make the 6 months deadline. Could you tell me where and how to apply for a deferral to be able to pay for any tax due a little after the deadline and avoid the penalties?
Also, I did get contradictory answers regarding the fact that we would be tax liable.
The Catrastal value is around €17,000.00 with a market value of around €140,000.00 and only €1,000.00 in a joint account.
I am really confused as per what is due based on which value?
I apologize for being so long, this is the last blow to a long two years of sad and stressful events and I am completely out of my depth as I do not speak Spanish/Catalan.
Many thanks,
Susie W.

[Sue fletch]

Hi there,
I'm looking for advice for my mum.
My parents who are both British own a villa in Alemeria worth around 180,000Euros, owned in joint names and both have spainish wills leaving their half to the other if one dies.
My father died a month ago so mum gets his half, the death is still so raw but people keep upsetting my mum by saying she will have to pay thousands and thousands of pounds in diffent taxes! This is really worrying her. Could you let me know if this is true and what % she is looking at.
Thank you so much x

[Sue fletch]

Hi there again!!
I forgot to say the villa is a holiday home.

[Neil]

My wife and I jointly own a holiday home on the Costa Del sol valued at some €250,000 it has no mortgage.
I understand if either of us were to die the survivor would have to pay spanish IHT as there is no exemption between spouses in Spain. We are both 55 years of age. Roughly how much IHT would we be liable for.

[JDW]

I have just found this website and how refreshing it is to find a legal firm in Spain that offers sound advice on tax matters. I for one have been under the impression that IHT was killer and the Hacienda would leave either my wife or I destitute on eithers death. I have added you to my favourites and know where to come if the need arises. Well done Belegal!

[aflores]

My wife and I jointly own a holiday home on the Costa Del sol valued at some €250,000 it has no mortgage.
I understand if either of us were to die the survivor would have to pay spanish IHT as there is no exemption between spouses in Spain. We are both 55 years of age. Roughly how much IHT would we be liable for.

Hello Neil,

You would be looking at approximately 18% of the value of the share being transferred. This calculation is based on the value you have given, not the "fiscal value".

[aflores]

Hi there,
I'm looking for advice for my mum.
My parents who are both British own a villa in Alemeria worth around 180,000Euros, owned in joint names and both have spainish wills leaving their half to the other if one dies.
My father died a month ago so mum gets his half, the death is still so raw but people keep upsetting my mum by saying she will have to pay thousands and thousands of pounds in diffent taxes! This is really worrying her. Could you let me know if this is true and what % she is looking at.
Thank you so much x

Hi Sue,

You are looking at around 16% of the share inherited, according to the approved sliding scale. This is taking into account the value of the property you have provided to me, as opposed to the "fiscal" value, which may vary.