Should I gift my Spanish property to my children during my lifetime?
If you gift Spanish property to your children, there are various things that one needs to think about. As non tax resident of Spain , regardless of whether you sell or gift your property, you will need to account for 19% Spanish Capital Gains tax (known in Spain as IIP). A capital gain is calculated by […]
Canary Islands Inheritance and Gift tax update
Last week the Canary Islands Government has modified the inheritance and gift tax allowances that are applicable in the Canary Islands: a 99.9% inheritance tax allowance is now generally applicable to Group II (children and adopted children of 21 years or more, spouses, parents) and Group III (brothers/sisters, uncles/aunts, nephews/nieces, etc.), and a 99.9% gift […]
Spanish tax notifications
The actions of Spain´s Tax Authority (the “Agencia Tributaria” in Spanish, and referred to as “AT” from this point) in recent years suggests an increased focus on fighting tax havens, searching for hidden assets and controlling international taxation. One of the common measures the AT has adopted is that of sending warning letters to individuals […]
I am a British resident and I own Spanish property. Should I gift it to my children during my lifetime?
If you gift Spanish property to your children then there are various things that one needs to think about. What tax you will pay tends to be at the top of one´s list. As a Spanish non tax resident, regardless of whether you sell or gift your property, you will need to account for 19% Spanish […]
Spanish taxation
Whether you live in Spain full time or part time you may be liable to pay tax in Spain. The primary test for Spanish tax residency is spending 183 days or more living in Spain per calendar year. Even if you don´t spend 183 days in Spain but you own property you need to make […]
Taxation in Spain for Residents and Non resident property owners
Whether you are tax resident in Spain or own a holiday home here and live in another country the different tax system in Spain can seem very daunting. Every country has particular rules and obligations and by ensuring your affairs are dealt with by professional advisers you can ensure that tax bills you receive are […]
Take advantage of the transition – becoming tax resident in Spain
We are often asked by British citizens coming to Spain to buy property – Where do I pay my tax? The double taxation relief treaty between Spain and the UK is not an EU agreement and at least initially, will not be affected by Brexit. Certainly if you make the change prior to the end […]
Inheritance, Wills and Taxes – Post Brexit Deal
This is an area that will remain unchanged post Brexit. The law that will govern succession and who will receive your assets on death will not change. The application of your law of nationality has been recognized and formalized in the EC regulation signed by Spain in 2015. The UK never signed this regulation but […]
Inheritance tax in the Canary Islands
In Spain there are many autonomous regions and inheritance tax allowances are different depending on the region where the inheritance assets are situated or where the inheritor is fiscally resident. If the inheritor is resident in the Canary Islands or the assets are situated in this region, Canary Islands inheritance tax allowances are applicable. Since […]
L’imposta sulle successioni nelle Isole Canarie
Tenerife è sempre stato uno dei posti più attraenti in Europa per acquistare immobili, con un clima meraviglioso, un’alta qualità di vita e spiagge. Ora ha anche uno dei più favorevoli regimi fiscali di successione per coniugi, figli e famiglie. All’inizio del 2019 la regione ha incrementato le agevolazioni fiscali, estendendo a fratelli, sorelle, nipoti, […]
Good news for Andalucian property owners
More – inheritance tax allowances At the start of 2018 the region had massively increased the inheritance tax allowance for a spouse, child, parent or grandchild of a deceased person to 1,000,000€ per beneficiary. This means someone with a spouse and three children could leave an estate of up to four million to them completely […]
Varför du behöver registrera ditt semesterhus
Det har nyligen rapporterats att en av de största plattformarna för bokning av semesterboenden – Airbnb – kommer inte att tillåta marknadsföring av din spanska bostad om du inte har ett tillstånd från Junta de Andalucia – Viviendas con Fines Turísticos – VFT. Många regioner I Spanien har införlivat lagstiftning för att säkerställa att uthyrda […]