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El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche. www.costaluzlawyers.es

Legal tip 944. IHT on my usufruct as widow?
10 May 2013 @ 19:40

 

Usufruct heirs has a tax liability on the share he is inheriting ( as usufruct). That share is calculated by substracting your current age to 89. That is the percentage which, applied to value of assets, will determine the value of your share.

For instance:

If the two properties value is 200.000 euros, and you are 65 yeards old. The value of your usufruct is calculated:

89-65 equals 24. ( it always needs to be between 10%-70%)

24% of 200.000 is 48.000€

So, ownership heirs will have to pay taxes on 152.000 € and you will have to pay taxes on 48.000€.

If taxes are not paid by heirs, the AEAT might start an enforcement procedure on any free assets owned by debtor heirs.

P1030200.JPG

"P1030200.JPG", by jtatam, at flickr.com



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