Table of Contents
- 1 How can Spanish inheritance tax be avoided?
- 2 Is there a time limit to claim inheritance in Spain?
- 3 Do I have to pay inheritance tax on my parents house in Spain?
- 4 What happens if I inherit a house in Spain?
- 5 Who pays inheritance tax in Spain?
- 6 How do I claim an inheritance in Spain?
- 7 What happens if a person dies without a will in Spain?
- 8 When do you get a death certificate in Spain?
How can Spanish inheritance tax be avoided?
Some advisers, mainly located abroad, suggest that you can avoid paying inheritance tax in Spain by incorporating the properties to a company registered outside the country.
Is there a time limit to claim inheritance in Spain?
Four-Year Limit on Inheritance Tax Spanish law dictates that inheritance tax should be declared within six months of the date of death. This six-month period is then added to the statute of limitations, so in effect the period stretches for four years and six months.
How does inheritance work in Spain?
The general Spanish Succession Law stipulates that your descendants (children) automatically inherit at least two-thirds of your Spanish estate, with priority over a surviving spouse. With your children named as inheritors of your estate by law, not your spouse.
How long after someone dies do you get inheritance?
Generally, an executor has 12 months from the date of death to distribute the estate. This is known as ‘the executor’s year’.
Do I have to pay inheritance tax on my parents house in Spain?
Inheritance tax must be paid if the heir is resident in Spain and receives an asset from abroad, or if the assets being transferred are in Spanish territory. This means that both residents and non-residents are subject to this tax. Non-residents could end up paying up to 80% more inheritance tax on assets received.
What happens if I inherit a house in Spain?
In Spain, the heirs or beneficiaries are liable for inheritance tax, not the estate of the deceased. Any Spanish Inheritance Tax due must be paid by the beneficiary within six months from the date of death. International conventions will need to be checked to avoid double taxation.
How much can you inherit tax free Spain?
Main state allowance: Nil *Spanish inheritance tax allowance is increased €3,990 for each year the beneficiary is aged less than 21, up to a maximum allowance of €47,868. The Spanish inheritance tax rate payable starts at 7.65% and is banded on the amount gifted up to a top rate of 36.5%.
Do I pay tax in Spain on UK inheritance?
No matter if you are a tax resident in Spain or not, you can still be liable to pay inheritance tax in any other country, let’s say the UK. That is something that depends on where you are domiciled. If you are a British citizen in the UK but resident in Spain, you can be asked to pay in both countries.
Who pays inheritance tax in Spain?
However, in Spain, as there is no concept of a person’s ‘estate’, all beneficiaries are liable to Spanish inheritance tax in some form or other. Furthermore, Spanish inheritance law recognises children in a different way than UK law, with two thirds of your possessions automatically going to your children.
How do I claim an inheritance in Spain?
To claim or handle someone’s Spanish estate if they died without a will, you must apply for a grant of probate. EU citizens can generally apply for such a grant in their own country.
When do you have to pay inheritance tax in Spain?
Spanish law dictates that inheritance tax should be declared within six months of the date of death. This six-month period is then added to the statute of limitations, so in effect the period stretches for four years and six months.
Who are the Inheritors in the Spanish inheritance law?
According to Spanish inheritance law, there are four groups of inheritors: Children and grandchildren under the age of 21. Children and grandchildren over the age of 21, parents, grandparents and spouse. Brothers, sisters, uncles, aunts, cousins, parents-in-law, daughter/son-in-law. Anyone else.
What happens if a person dies without a will in Spain?
If Spanish Law applies, and a person dies without a will (intestate), the law foresees a list of beneficiaries, starting from the closest relatives. This is regulated in articles 930 and follows the Spanish civil code, which we summarize below:
When do you get a death certificate in Spain?
If the death occurred in Spain the death certificate cannot be issued before 15 days have elapsed. After this period the civil registry generally issues the certificate and the funeral parlour will hand over several copies to the relatives.