Inheritance tax
#16
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Joined: May 2009
Posts: 235
From: Shetland/Granada Province and orginally the right side of the border.











It is so easy to become complacent when looking at IHT or rather, the tax known in Spain as ISD. Yes, some folk are able to become resident and thus gain certain benefits, others are 'holiday home' owners and, for a variety of reasons, cannot commit to becoming residents.
It is those folk who will be hardest hit by the ISD, in my case, or rather that of my wife, it would have amounted to several thousands of pounds, with the added disadvantage that she would not be able to dispose of the property until the tax was paid.
Okay, the situation was/is made worse in our case as we own two properties, exacerbated by the fact that one is shared 50/50 in joint names, but the other (the more valuable property) is 100% in my name.
Having had a heart attack - I am thankful I have been spared and am endeavouring to counteract the situation, seemingly becoming a Philadelphian Lawyer, or rather - an Andulcian Lawyer.
I've not yet settled on a solution, my legal advisor did not give me the advice I was seeking, so I will have to look elsewhere. If the OP wishes to PM me then I will bring her up to date with my discoveries thus far.
It is those folk who will be hardest hit by the ISD, in my case, or rather that of my wife, it would have amounted to several thousands of pounds, with the added disadvantage that she would not be able to dispose of the property until the tax was paid.
Okay, the situation was/is made worse in our case as we own two properties, exacerbated by the fact that one is shared 50/50 in joint names, but the other (the more valuable property) is 100% in my name.
Having had a heart attack - I am thankful I have been spared and am endeavouring to counteract the situation, seemingly becoming a Philadelphian Lawyer, or rather - an Andulcian Lawyer.
I've not yet settled on a solution, my legal advisor did not give me the advice I was seeking, so I will have to look elsewhere. If the OP wishes to PM me then I will bring her up to date with my discoveries thus far.




