Spanish Probate

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Spanish Wills and Probate Ltd.

P O Box 12
Lymm
Cheshire
WA13 9FE

Tel 0845 257 7889

In Spain, dial

951 190488

email: enquiries@spanishprobate.co.uk

Inheritance Tax

In the UK IHT is paid by the estate before it can be distributed to the beneficiaries.

In Spain, it is paid by the beneficiaries.

In the UK, with few exceptions, IHT at 40% is levied on anything over £300,000. For a married couple the limit is £600,000.

In Spain, each beneficiary has an "IHT-free allowance". The rate payable is on a sliding scale, the more you receive and the further you away your family relationship to the deceased, the higher the rate.

In the UK, a surviving spouse can receive any amount free of IHT.

In Spain there is no spouse exemption.  

For a rough indication of Spanish IHT liabilities, enter the sum to be received by each beneficiary into the calculator below.

The tax to be paid is dependent on your relationship with the deceased.

In the calculator:-

Spouse refers to husband or wife, civil partner, and children over the age of 21

Relative refers to brother, sister, uncle, etc.

Non relative refers to anyone not directly related to the deceased, including a common-law spouse

Children under 21 have increased allowances. 

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IMPORTANT NOTE

The output from the calculator is an estimated value based on the information you have entered and today's allowances etc.

The exact liability will be confirmed by the case lawyers.

UK Inheritance Tax

If the deceased is domiciled in the UK for IHT purposes, the assets in Spain will be taken into account for how much UK IHT is levied.

Thus, for a single person anything over £300,000 may well be taxed at 40% by the British Tax authorities.

Double taxation relief is usually available if IHT is payable in both the UK and Spain.  

Please visit

www.spanishwills.co.uk

if you require information about Spanish Wills