Spanish Inheritance Tax: How much is it?

[GCD]

Dear Sir, My father died recently, he did not own any property in UK ( his male partner did) - he did have a property in Palma Mallorca. He has left a will in UK and in Palma, Mallorca leaving everything to his male partner - do my siblings and myself have any claim to a share to his Spanish estate??

[JFW]

Dear Sirs
My husband and I are moving to the Alicante region of Spain next year,2011. We will both be 60, below the UK retiring age. We have already bought an apartment in Spain for €105,000.00 and will be selling our house in the UK which is valued around £16,000.00. We got an interest free loan from my brother-in-law for £120,000.00 which will be paid back on the sale of our house. I would like to know if we will have to pay CGT on the difference between the price of the properties and the money we hae managed to save, which took a lot of hard work, and do not want it to go all on tax! I have also read about inhertance tax and wealth tax and it has put the fear of death into me at what we and our children, on our deaths, might have to pay. I do not want this to be hanging over us and spoil our retirment. Many thanks.

[JEL]

I am a resident of Spain and own my property outright. I have made a Spanish Will through a solicitor. I have recently heard from another source that my two sons who are the only inheritors of my estate and both live in UK are required to obtain an NIE Number because they are the inheritors. If this is so, can they do it before I die or do they only need to when progressing the inheritence? Many thanks

[lawbird]

Dear JEL,

They can obtain it at any time.

The NIE number is a foreigner registration number which IDs a non-spanish national living or having any type of interests in Spain. They will need to have this number at the time of distribution of your estate, however the solicitor in charge of the inheritance proceedings will probably obtain this on their behalf when it becomes necessary.

Kind regards,

[Jess]

Hi there, i would love some advice if at all possible. My grandfather passed away this year, he left his half of the property to me, my grandmother owns the other half. I obviously am having trouble trying to raise the funds to pay for the tax. I lived with him prior to his death and I am a listed resident at this address at the town hall. Are there any excemptions? I need to pay tax on about 75.000 euros. Thank you

[lawbird]

Dear Jess,

Your query has been dealt with on this other thread:

http://belegal.com/forums/showthread.php?t=1867

Kind regards,

[Apple]

One of my distant relative on my father's side was killed in the Tsunami in 2004. I just received a letter informing us that he have inherit a large sum of money. There are no mention of houses etc since it has been over 6 years that no one has claimed anything. What am I to expect in regards to spanish taxes ect. I do have the lawyer that was his personal lawyer but never mentioned anything about houses etc...please advise?

I also forgot to mentioned that I live in Canada and are distant relatave lived in spain for 13 years with no will. We are both foreign nationals. what I am to expect if I decide to move forward witht his.

[ifv]

Hello Apple. Please note that what you mention is an old scam which has been going on for several years. See this thread for further information. Regards

[apple]

Interesting enough is that they are not asking for any money and that they are going to pay for this themselves. what are the chances of this?

[ifv]

what are the chances of this?

None. Period.

Interesting enough is that they are not asking for any money and that they are going to pay for this themselves.

Fraudsters bank on greed, and once they've manage to turn you into a true believer, they will extract from you whatever they want. I've seen it many times.

Try googling the scam involving the 2004 Tsunami.

Do not touch with a barge pole!