Inheritance Tax

Spanish Inheritance Tax

General Information for Residents and Non-Residents with assets in Jávea, drawn up by Susan Bultitude, as a result of her wide experience in this field, and supervised by D. Rogelio Jardón Giner, solicitor.

The information provided below is for general guidance only! Spanish Inheritance Tax is a serious subject and you must check the facts and obtain advice from a qualified solicitor – do not “assume” – find out! Remember that the rules and/or laws may well change each year, so check from time to time!!

– Do you really understand the importance of being a fiscal resident or a non-resident in Spain in connection with Inheritance Tax?

See a solicitor and discuss your particular circumstances i.e.

• Are you resident or are you non resident who owns property and/or other assets in Jávea?
• Is (are) your beneficiary (ies) resident or non-resident in Spain?

The answers to these questions will play a very important role when calculating Inheritance Tax in Spain.

There are particular advantages for a resident who owns property and/or assets in the Valencian Community area, who:

• Is up to date with his/her paperwork
• Pays his/her Spanish Resident Income Tax or presents his/her Resident Income Tax
Returns each year so that the Spanish Tax Authorities are aware of his/her “fiscal resident status” within their records.

N. B. It is important for all residents to be registered on the “Municipal Padron” (census of inhabitants) in Jávea and always remember to update details with the Town Hall if you move address within the municipality of Jávea.

If you are a Resident in Spain, it is important to note that there are reductions which affect Spanish Inheritance Tax, e.g. the amount of inheritance tax to be paid will depend on whether you are resident or non-resident in the Valencian Community area; whether your direct beneficiary or beneficiaries are resident or non-resident in the Valencian Community area – seek advice from a solicitor!

SPANISH WILLS – Whilst on the subject of Spanish Inheritance Tax, for all those persons who own property and/or have assets in Spain, it is highly advisable and economical, now and for the moment that it will be applied, that you make a Spanish Will! Do not just “draw up a Will” without guidance!! Discuss the matter of the content of your Spanish Will with a solicitor so that you are fully aware of the consequences prior to concluding your Will.

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