Join Talk Quesada
Welcome to Talk Quesada! My name's Alex and this is my website all about Ciudad Quesada in Spain. Talk Quesada is free to sign up and use so register below!
Inheritance tax for siblings
Re: Inheritance tax for siblings
by marcliff » Thu Apr 13, 2023 4:03 pm
vauxhall58 wrote:Does the surviving spouse pay IT if it’s a second/holiday home? Says you have to live there for 3 yrs permanently to qualify for 0% IT.
No. It has to be your primary dwelling.
-
marcliff - Posts: 9694
- Joined: Sat Mar 03, 2012 4:41 pm
- Location: Doña Pepa 2
- Which part of Spain are you from?: Dona Pepa 2
- Gender: Male
Re: Inheritance tax for siblings
by marcliff » Thu Apr 13, 2023 4:09 pm
AnnetteD wrote:Are step children classed as grade 2 inheritors?
No, group 3.
-
marcliff - Posts: 9694
- Joined: Sat Mar 03, 2012 4:41 pm
- Location: Doña Pepa 2
- Which part of Spain are you from?: Dona Pepa 2
- Gender: Male
Re: Inheritance tax for siblings
by Bee » Thu Apr 13, 2023 4:54 pm
....
Last edited by Bee on Thu Apr 13, 2023 6:20 pm, edited 1 time in total.
- Bee
- Posts: 3332
- Joined: Sun Dec 10, 2017 1:07 am
- Which part of Spain are you from?: Torrevieja
- Gender: Female
Re: Inheritance tax for siblings
by vauxhall58 » Thu Apr 13, 2023 5:00 pm
Marcliff. My primary dwelling is in England so me being a bit confused so accept my apologies but does the surviving spouse have to pay IT
- vauxhall58
- Posts: 10
- Joined: Fri Jul 09, 2021 11:06 am
- Which part of Spain are you from?: Dona peps Quesada
- Gender: Female
Re: Inheritance tax for siblings
by marcliff » Thu Apr 13, 2023 5:26 pm
vauxhall58 wrote:Marcliff. My primary dwelling is in England so me being a bit confused so accept my apologies but does the surviving spouse have to pay IT
If it's not your primary residence then yes. If two of you own the property then the survivor is deemed to inherit 50% of the value therefore will pay inheritance tax on 50% of the value. However, allowances are still granted.
In 2015 the EU ruled that countries cannot discriminate against EU residents and non EU residents and are to be taxed the same and given the same allowances. Up until then, the survivor could only benefit from the regional allowances if they were habitually resident in that region.
In 2018 the Spanish Supreme court upheld this and the survivor can now claim the allowances relevant to where the property is (if two homes in different regions then the highest value property will rule which region's rules apply).
The survivor, if married or in an official civil partnership, will be classed as Group 1 and be able to access the allowances even though it is only on half the estate.
Again, you need to contact a solicitor to work out how to do this and which is most beneficial. Inheritance (or succession tax) is virtually non existent in the Valencia Region for married couples as a group 1 inheritor is able to claim up to 95% of the tax to a maximum of 122.606. They did not scrap succession tax altogether as it would be difficult to reinstate it later so they made the allowances so high that it is virtually non existent.
Of course, Group 2, 3 and 4 inheritors will pay.
Also remember this tax is set by the autonomous region. If PP get in later on, they are proposing that inheritance tax is abolished along with the wealth tax. Mind, they are also saying you will be able to claim tax back on dental and optician fees as well. Could just be manifesto promises.
-
marcliff - Posts: 9694
- Joined: Sat Mar 03, 2012 4:41 pm
- Location: Doña Pepa 2
- Which part of Spain are you from?: Dona Pepa 2
- Gender: Male
Re: Inheritance tax for siblings
by AnnetteD » Thu Apr 13, 2023 8:47 pm
marcliff wrote:AnnetteD wrote:Are step children classed as grade 2 inheritors?
No, group 3.
Ok thanks.
-
AnnetteD - Posts: 729
- Joined: Tue Feb 21, 2017 12:16 pm
- Which part of Spain are you from?: La Fiesta, Quesada
- Gender: Female
Re: Inheritance tax for siblings
by vauxhall58 » Fri Apr 14, 2023 8:15 am
Thank you very much indeed . I am going to print that off so I can refer to it any time.
- vauxhall58
- Posts: 10
- Joined: Fri Jul 09, 2021 11:06 am
- Which part of Spain are you from?: Dona peps Quesada
- Gender: Female
Page 2 of 2 • 1, 2
17 posts
• Page 2 of 2 • 1, 2
Related topics
-
- Similar Topics
- Replies
- Views
- Last post
-
-
Inheritance,
by Gustav » Fri Feb 23, 2024 11:32 am in Quesada general discussion - 1
- 268
-
by DTR
Fri Feb 23, 2024 12:03 pm
-
Inheritance,
-
-
Inheritance tax
1, 2 by shemarg » Wed Nov 15, 2023 2:29 pm in Quesada general discussion - 13
- 739
-
by shemarg
Sat Nov 18, 2023 7:14 pm
-
Inheritance tax
-
-
Inheritance tax
by Toodiq » Tue Aug 29, 2023 8:45 pm in Quesada general discussion - 9
- 619
-
by jpeg
Thu Aug 31, 2023 9:08 am
-
Inheritance tax
-
-
Inheritance and Gift Tax
by marcliff » Fri Jul 21, 2023 12:58 pm in Taxes in Spain: Suma, NIE and general tax advice - 9
- 777
-
by kingscliff
Sat Jul 22, 2023 10:28 am
-
Inheritance and Gift Tax
-
-
Inheritance & Donations tax to be eliminated -Comm Valencian
1, 2 by Bee » Fri Jul 21, 2023 6:28 pm in Quesada general discussion - 14
- 803
-
by Bee
Sat Jul 22, 2023 9:44 pm
-
Inheritance & Donations tax to be eliminated -Comm Valencian
Return to Quesada general discussion
Who is online
Users browsing this forum: AnthonyH, Chris&Maggie, Google [Bot], Google Adsense [Bot] and 74 guests
Login
Find in Quesada
Quesada pages
Quesada discussion
- Quesada general discussion
- Banking and finances
- Broadband, Wifi, Phone and TV
- Buses and public transport in and around Quesada
- Driving to Spain / Car hire in Spain / Buying and owning a car in Spain
- Fiestas in Quesada
- Flights, baggage and airports
- Health services in Quesada
- Insurances and wills in Spain
- Items for sale and wanted in and around Quesada
- Interesting articles about Spain
- Jobs and careers in Quesada
- Lost and found in Quesada
- Market days
- Places to go for free Wi-Fi
- Recommended restaurants / cafes / bars
- Recommended Tradesmen and Companies
- Residency in Spain: padron, residencia and passport advice
- Safety / security information and property in Spain hints and tips
- Taxes in Spain: Suma, NIE and general tax advice
- Taxis in Quesada
- Things to do and places to go in and around Quesada
- Utilities in Spain: Electric, gas and water recommendations and advice
- Weather in Quesada
- Where to buy things in and around Quesada
- Where to hire things in and around Quesada
Properties discussion
Businesses and places in Quesada
- Bars and pubs in Quesada
- Beaches near Quesada
- Beauticians / Beauty salons in Quesada
- Bedding and soft furnishings shops in Quesada
- Butchers in Quesada
- Car dealers in Quesada: new and used car dealers
- Car garages, mechanics, tyre fitter centres in Quesada
- Car hire in Quesada
- DIY / Bricolage / Ferreteria stores in Quesada
- Equipment hire centers in Quesada
- Estate agents in Quesada
- Furniture shops in Quesada
- Garden centres and garden furniture shops in Quesada
- Golf Courses in Quesada
- Grills / gates / metal items shops in Quesada
- Hairdressers in Quesada
- Hotels, guest houses and bed and breakfasts in Quesada and nearby
- Internet service providers that cover Quesada
- Launderettes / dry cleaners in Quesada
- Markets in Quesada
- Medical / Health centers in Quesada
- Pet shops in Quesada
- Pharmacies / Chemist shops in Quesada
- Restaurants in Quesada
- Shopping centres in Quesada
- Sports centres and gyms in Quesada
- Supermarkets in Quesada
- Swimming pool services in Quesada
- Town Halls (Ayuntamientos) in Quesada
- Waterparks/Aquaparks in Quesada
- TalkQuesada » Board index
- The team • Delete all board cookies • All times are UTC [ DST ]
- Our other websites:
- Costa Blanca forum
- Costa Calida forum
- Costa del Sol forum
- Costa de Almeria forum
- Costa de la Luz forum
- Costa Dorada forum
- Costa Brava forum
- UK forum
- Jobs in the UK
- Our policies:
- Privacy policy
- User agreement
- Content policy
- Website created and operated by JSM Forum Websites