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, […]
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 […]
Do’s and don’ts when buying property in Spain
Ensure that the legal title is checked and that the property can be sold free of any debts and charges Establish with an English speaking independent lawyer if the property is fully licenced and that no administrative or legal sanctions are in place In Spain there are debts which can be placed against the property […]
Revision of local taxes – reduced in Marbella – increased in Nerja
All property owners in Spain have to pay local taxes – Impuesto de bienes inmueble – IBI – to their local Town Hall. These taxes or local rates are revised from time to time. They are based on the catastral or rateable value which is fixed by each Town Hall. The central government uses these […]
Inheritance tax reductions – Andalucia
This year 2018 brings good news for family members who inherit property and assets bringing inheritance tax reductions in Andalucia. The regional tax has been reduced, with spouses, children, parents and those registered as partners – parejas de hecho – receiving an increased tax allowance of 1,000,000€ per beneficiary. Spanish inheritance tax is a donee […]
Executors or Albaceas in Spanish wills
In the 3 jurisdictions of the UK, England & Wales, Northern Ireland and Scotland the role of an Executor – who often becomes a Trustee – is a personal obligation on the individual and a burdensome role. For this reason, most people either name their spouse or partner or a close family member. Where there […]
Inheritance tax 2017 Andalucia
Inheritance tax in Spain is charged differently in the regions of Spain if you are an EU resident. There have been some very beneficial inheritance tax changes this year in Andalucia. They apply when both deceased and the beneficiaries are resident in a European Union country*. Main home relief If certain criteria are met, […]
Town Halls to repay taxes to property sellers
A decision of the Malaga administrative courts may have set a precedent for thousands of vendors in Andalucia who sold their properties for less than the purchase price. The local Town Hall tax – plusvalía – has been charged on all property sales, inheritances and donations for many years. In some cases the tax has […]
Tax and Holiday Rentals
Income earned on the rental of holiday properties in Spain has to be declared to Hacienda, the tax authority. The rate is now 19% but importantly there are a number of expenses that can be set off against the income. These are IBI (rates), Community of owners charges, Agency fees for advertising and maintenance and interest […]
Non resident property owners taxes – Spain
The Spanish tax authorities – Hacienda – have begun a new campaign to ensure that non-residents who own property in Spain do pay their taxes. For many years we have been advising property owners of the importance of paying this tax annually. Now the tax authorities are actually sending demands giving an estimated or provisional figure […]
Inheritance tax reductions Andalucia 2017
Inheritance tax reductions for Andalucía The Junta de Andalucía is set to increase the tax free sum before inheritance tax is payable on estates within the region of Andalucía. At present the amount a spouse or direct descendant can receive is 175.000€ before any succession tax is payable. From January 2017 this is set to […]
Good news – Tax reductions
REDUCTION IN TAXES FOR NON RESIDENT PROPERTY OWNERS We are very pleased to report a reduction in three important taxes for non-resident property owners in Spain. In moves to encourage property purchases and ownership the Spanish government has announced that from 1st January 2016 European citizens as well as those from Norway and Iceland will […]