08 Jun 2013 8:06 PM:
Have posted before on this topic and received lots of good advice. Thanks to you lot I negotiated the minefield of inheritance tax and think I have some understanding now. My previous posts were hypothetical as the parent who had left my sister and I the villa was going strong. However ,my Dad died last week so the whole thing is now very real. My sister and I don't get on so well so problems would arise anyway,but already she says she knows people who have dodged inheritance tax but I'm wary. I have lived in Spain and am pretty sure the Spanish government government have all bases covered. I guess I'm just looking for assurances that there is only one way to play this and that's straight. Please tell me I'm right!
Thread: inheritance,should be a good thing right?
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11 Oct 2012 10:09 AM:
Hi Johnzx, Thanks so much for the info, scary though it was! thats a big lump were going to have to find, im sure my mum didnt ever think leaving us the place would be so expensive. I will of course take legal advice when the time comes. Do you know of another way we could have gone about it? I dont want to burden my kids in the same way later on! Thanks again for your help mate.
Thread: Inheritance tax and subsequent tax liability if I sell and take money back to uk or reinvest in Spain
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10 Oct 2012 3:25 PM:
Apologies for the long winded title. I will shortly (sadly) be inheriting(along with a sibling) a property in Spain. My mother has done everything"properly" but won't really discuss it with us. My concerns are what it will cost my brother and I just to keep it as is. Should we decide to sell and bring money home is there a further tax and if we sell and buy 2 properties is the tax liability lessened? My brother and I do not get on so the simplest solution that I can present to him will hopefully be best.I have no idea what the property is worth but I would guess between 200-250k and is un encumbered. Any advice would be gratefully accepted
Thread: Inheritance tax and subsequent tax liability if I sell and take money back to uk or reinvest in Spain
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09 Feb 2011 9:10 PM:
Thanks for that! obviously got my lines crossed as I was sure her liability for tax would be lessened if the money stayed in spain, must have made it up myself. I really appreciate the help and have a few more queries to throw into the hat later so please watch this space. Cheers Charlie
Thread: First post and a question
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09 Feb 2011 12:00 AM:
Hi folks, Im an eye on Spain virgin so please be gentle with me. I lived in Spain for several years but have been back in the UK for 17 years now, my question is regarding a family member who owns a property, she is considering selling and re investing in possibly 2 smaller properties. Effectively, no money would be taken out of the country so how is she affected tax wise. She is a non resident but pays all the things she has to. I understand if she takes any money out of the country she is liable for tax but what are the differentials? can anyone put me straight? Its not an urgent thing she is only considering it. Thanks in advance. Charlie
Thread: First post and a question
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