I am an Irish national, and a permanent resident in the Basque country. I am currently employed, and perform my 'declaracion de la renta' in the Basque country every year. I do not have or declare income from Ireland.

My parents, both of whom are alive, are planning on making an inheritance gift of €45,000 (cash) to me in Ireland. This transaction will be declared in Ireland, and I will not have to pay tax on it in Ireland (due to Irish inheritance taxation laws). I plan on transferring this money to my Spanish bank account, and using it to purchase a property next year.

Will I need to declare this cash inheritance in my 'declaracion de la renta' next year? As I will be declaring this inheritance gift in Ireland, I think I do not have to declare it as income in Spain. Is this true?

If I do have to declare it, what tax rates are likely to apply? Is there a tax exemption status for inheritance gifts/ donations?

Thank you in advance for taking the time to reply- this website offers a fantastic source of information and is full of excellent advice.

I hope you can help me with my enquiry.

Yours sincerely,

Nathan