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 […]
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 […]
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 […]
Reduced inheritance tax in Andalucia
Andalucia has always been one of the most attractive places in Europe to buy property, with a wonderful climate, culture and beaches. Now it also has one of the most favourable inheritance tax regimes for spouses, children and families. At the start of 2018 the region massively increased the inheritance tax allowance for a spouse, […]
Inheritance tax reductions Andalucia
As a result of recent inheritance tax changes Andalucia is now one of the most attractive places in Europe to buy property. Not only due to its wonderful climate, culture and beaches but also to a very favourable inheritance tax regime. Until relatively recently one of the main disadvantages of buying a property or holiday […]
Brexit – Moving to Spain – the positive approach
There have been a lot of harbingers of doom about Brexit and British citizens buying property and moving to Spain. However, on re-reading the Joint Report of the UK Government and the European commission of 8th December 2017 it is clear that for those thinking of buying or renting property and living in Spain before […]