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Property inheritance tax for non-residents

Property inheritance tax for non-residents

Old Feb 2nd 2022, 11:31 am
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Default Property inheritance tax for non-residents

What is the threshold for for property inheritance tax for non-resident owners' dependents? What value starts attracting the tax? I'm sure someone knows. TIA.
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Old Feb 2nd 2022, 3:43 pm
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Default Re: Property inheritance tax for non-residents

Originally Posted by ValTay0607 View Post
What is the threshold for for property inheritance tax for non-resident owners' dependents? What value starts attracting the tax? I'm sure someone knows. TIA.
If you are in Valencia good news. Different regions have different thresholds

https://www.daviessolicitors.com/gui...lencia-region/
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Old Feb 2nd 2022, 4:27 pm
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Default Re: Property inheritance tax for non-residents

Thank you Moses2013. Best.
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Old Feb 2nd 2022, 5:31 pm
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Default Re: Property inheritance tax for non-residents

Only close relatives get the higher allowances. That of course covers children but be aware that step children are not considered to be relatives in any way and get minimum, if any, allowances and also pay 2x the usual tax. Sadly not a lot of people know that and it has the potential to create huge problems where second marriages are involved.

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Old Feb 3rd 2022, 4:00 pm
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Default Re: Property inheritance tax for non-residents

Originally Posted by Fred James View Post
Only close relatives get the higher allowances. That of course covers children but be aware that step children are not considered to be relatives in any way and get minimum, if any, allowances and also pay 2x the usual tax. Sadly not a lot of people know that and it has the potential to create huge problems where second marriages are involved.
That's very interesting. I'm leaving my half of our villa to my nephew. Will it be better to leave it to my brother on his behalf ?
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Old Feb 3rd 2022, 4:11 pm
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Default Re: Property inheritance tax for non-residents

Originally Posted by Yorick View Post
That's very interesting. I'm leaving my half of our villa to my nephew. Will it be better to leave it to my brother on his behalf ?
It wouldn't make any difference as siblings and nephews/nieces are all classed as Group III relatives for the purposes of Spanish inheritance tax.
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Old Feb 4th 2022, 8:07 am
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Default Re: Property inheritance tax for non-residents

Originally Posted by Lynn R View Post
It wouldn't make any difference as siblings and nephews/nieces are all classed as Group III relatives for the purposes of Spanish inheritance tax.
Ta
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