Inheritance

Information and questions about the Law in Spain and Andalucia.
elusive
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Inheritance

Postby elusive » Mon Mar 26, 2018 6:36 pm

If you receive an inheritance obviously there is IHT implications depending on the amount but does the inheritance also have to be declared as earned income on a tax return? Therefore potentially been taxed twice or does an inheritance get treated differently

El Cid
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Re: Inheritance

Postby El Cid » Mon Mar 26, 2018 7:15 pm

It’s treated seperately..

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elusive
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Re: Inheritance

Postby elusive » Tue Mar 27, 2018 9:00 am

Thanks

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Terry Tibbs
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Re: Inheritance

Postby Terry Tibbs » Tue Mar 27, 2018 4:09 pm

Speaking of inheritance tax... Different circumstances but I guess this ruling might apply to UK-based heirs of Spanish residents, post-Brexit...

https://www.citizensadvice.org.es/inheritance-tax-ruling-spanish-supreme-court/
The Spanish Supreme Court has ruled over a case, where a Canadian beneficiary of a Spanish resident wasn´t allowed the inheritance tax allowances of the region where the deceased resided.

elusive
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Re: Inheritance

Postby elusive » Tue Mar 27, 2018 4:39 pm

Thanks terry. Intresting to know

Gasman
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Re: Inheritance

Postby Gasman » Tue Mar 27, 2018 9:07 pm

As I understand it, non EU inheritors have to go with the National rate of tax, rather than where the deceased was resident. The national rate is usually worse than the Comunidad eg Analucia, rate.
Remember that under spanish law it is the inheritor that is taxed, not the estate (as in UK)

elusive
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Re: Inheritance

Postby elusive » Wed Mar 28, 2018 9:09 am

Yes thats what the case was over. Its been delcared illegal so a non EU beneficiary will get the regional allowances now


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