Inheritance Tax Spain

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Inheritance Tax in Spain

Your Best Value in Spain

More and more people that own property in Spain are becoming aware of potentially devastating levels of Inheritance Tax that may be due when they or their partner dies. The major difference between Spain and the UK is that there are no exemptions between spouses. So if a property is jointly owned between a husband and wife, and one partner dies, then the other partner may find themselves with a large Inheritance Tax bill relating to the half of the property that they have now “inherited” from their partner. This can often mean that the property has to be sold in order to pay the outstanding tax bill.

When the Spanish Inheritance Tax bill relating to property is calculated, it is based on the current market value of the property, less the value of any outstanding mortgage. So in the situation where the property carries an 80% mortgage, and one partner dies, then the Inheritance Tax calculation for the surviving partner is based on the 10% of equity that is being inherited.

So, in order to protect against excessive Spanish Inheritance Tax, it is possible to raise a mortgage against the value of a Spanish property. Then, the funds are invested in such a way that the mortgage is paid for, the capital is guaranteed, and the capital is protected from the Spanish taxman.

Europa Mortgages are able to arrange a number of schemes that aim to help reduce your potential Spanish Inheritance Tax liability. The key features of our most popular recommended product are:-

Up to 90% of the value of the property can be released and invested on client’s behalf.
All fees and charges are included in the structure of the product. Only the valuation fee needs to be paid in advance.
Lending is provided by an AA rated UK bank.
The maximum age on entry is 70, and the scheme is non status – you do not need to prove income.
Your capital is 100% guaranteed.
There is a strong possibility that you could enjoy investment gains if the investment performs at a higher rate than the mortgage cost.
You retain ownership of your property and will benefit from future growth in the property value.
Your capital is invested in a tax efficient structure to minimize Spanish Inheritance Tax. The investment and mortgage are in euros, so there is no exchange rate risk.

Please complete the form below if you would like to find out more about ways to reduce your Spanish Inheritance Tax liability.

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