Expats have overpaid £400 million inheritance tax!
Monday, July 9, 2012 @ 1:07 PM
Currently the Spanish Government holds inheritance taxes for non-residents at 35%, whereas Spanish residents pay close to zero. The European Commission has quite rightly noted that this is an unfair treatment of non-residents and has brought the case to the European Court of Justice arguing that Spain is violating EU treaty freedoms. The verdict is expected soon, and is likely to force Spain to amend its Inheritance tax laws, allowing 1000´s to claim back over payments.
Around 60,000 British families have been affected by this overtax for properties and assets they inherited in Spain, with estimate figures hitting a worrying €490million! With British Expats wrongly charged for these taxes, action groups have been established to represent those who have been trapped by the policies.
Stringent time limits have been placed for claims, allowing only 40,000 of the 60,000 affected to file a claim due to rules permitting those claims only related to the previous 4 years.
If you think you may have been affected by this overpayment don’t hesitate to get in touch, and find out what refund you could be eligible for! Contact us via comunicaciones@lexland.es or by phone at +34 952778899.
Source: The Telegraph