Death duty

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This topic contains 5 replies, has 3 voices, and was last updated by Profile photo of Anonymous Anonymous 6 years, 2 months ago.

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  • #55901
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi

    Trying to get e feel of death duty costs so any help appreciated.

    If I was living in property value 100,000 Euro with my wife, no mortgage and I died.

    What would my wife have to pay as death duty?

    Colin

  • #101106
    Profile photo of Anonymous
    Anonymous
    Participant

    It depends on various things such as where you are in Spain as some provinces have different rules, how the will is wrote, if the property is in both your names etc

    In general you would have an allowance of around 16,000 Euros, you then pay a % of the remainder

    So if for instance you say 50k of property is yours and 50k your partner then an allowance would bring it down to about 34k, on that you would pay 11.05% yours, being about 3700 Euros in tax.

    Of course other things will come into it and I’m no doubt other forum members will have a say.

    Ian

  • #101113
    Profile photo of Anonymous
    Anonymous
    Participant

    ask your lawyer – also depends on your nationality !!!!

  • #101114
    Profile photo of Anonymous
    Anonymous
    Participant

    ask your lawyer – also depends on your nationality !!!!

  • #101116
    Profile photo of Anonymous
    Anonymous
    Participant

    Thank you both for your reply.

    Not at lawyer stage yet.

    Trying to get e feel of the system in Spain.

    The property would be in both names and were are British.

    Is there a chart showing what different provinces charge?

    Ian

  • #101122
    Profile photo of Anonymous
    Anonymous
    Participant

    If you are resident in the following communidades you will have reduced on zero IHT of course depending on if you are resident, if you have a Spanish will etc.

    Madrid, Basque Country, Navarre, Valencia, Balearic and Canary Islands

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