Inheritance tax - Taxes in Benidorm: Suma, NIE and general tax advice - Benidorm forum - Costa Blanca forum in the Alicante province of Spain
Harmony FM
Gran Alacant Insurances
Agente Service Transfers SL
Costa Tree Services
Advisors Costa Blanca
South East Costa Removals
Just One Small Step - Counselling
Aeromax
ASSSA Insurance
AA Free English TV
Leos Superstore
PC Services
Colour On Canvas
OTH Transport

Join the Benidorm forum

Join the Benidorm forumMy name's Alex and this is my website all about Benidorm in Spain. Register now for free to talk about Taxes in Benidorm: Suma, NIE and general tax advice and much more!

Inheritance tax

Posted: Sun Oct 11, 2020 3:19pm
4 replies116 views3 members subscribed
Paulsop

Posts: 3

Location: Benidorm

Joined: 4 Sep 2020

Has anybody dealt with the death of a partner regarding paying IHT and transferring jointly owned property into sole name. This needs to be done within 6 months to avoid penalties etc but it can be extended by a further 6 months. Has anybody obtained an extension and how easy is it to do so. Also, what are solicitors/gestors costs likely to be and any recommendations appreciated.

Karen9999

Posted: Mon Oct 12, 2020 8:12am

Posts: 101

44 helpful points

Location: La Siesta

Joined: 1 Sep 2018

Posted: Mon Oct 12, 2020 8:12am

Cost his 1700€.   No ih tax if married and assets under100.000€.    That was fees to gestoria, notary and land registry

Paulsop

Posted: Mon Oct 12, 2020 11:42am

Paulsop

Original Poster

Posts: 3

Location: Benidorm

Joined: 4 Sep 2020

Posted: Mon Oct 12, 2020 11:42am

Karen9999 wrote on Mon Oct 12, 2020 8:12am:

Cost his 1700€.   No ih tax if married and assets under100.000€.    That was fees to gestoria, notary and land registry

Thanks for information. I've been quoted  €1800 just for solicitors fees plus have to pay fees to land registry and notary. Time to shop around. Do you know how to obtain an extension to the 6 months. I'm in uk and don't really want to come to spain at the moment. 

Kenbo

Posted: Wed Oct 14, 2020 9:52am

Kenbo

Helpful member

Posts: 274

214 helpful points

Location: La Florida

Joined: 6 Dec 2017

Posted: Wed Oct 14, 2020 9:52am

I dealt with this when I lost my wife in 2014.

I had a fantastic Solicitor who dealt with it all whilst I was still in the UK although I did have to go over to Spain to sign the final paperwork.

I didn't realise that it was possible to apply for an extension of the 6 months, is this always available or due to Covid?  Perhaps a consideration here is that if you defer this into next year when the Brexit withdrawal is over, tax thresholds could change.

Currently in the Valencian region there is a tax free allowance of €100,000, there is the possibility of this changing as we will no longer be in the EU, certainly, non resident taxes will increase from 19% to 24%.

I received app 6 quotes from different Solicitors and they varied wildly but I can recommend Solmed Solicitors 0034 966 706 408.

They are English speaking and are really patient and considerate, I had loads of questions in 2014, all of them answered promptly, I have retained Solmed to this day.

Solmed are based in Los Balcones just south of Torrevieja.

Hope that some of this helps. Ken.

Paulsop

Posted: Wed Oct 14, 2020 2:41pm

Paulsop

Original Poster

Posts: 3

Location: Benidorm

Joined: 4 Sep 2020

Posted: Wed Oct 14, 2020 2:41pm

Kenbo wrote on Wed Oct 14, 2020 9:52am:

I dealt with this when I lost my wife in 2014.

I had a fantastic Solicitor who dealt with it all whilst I was still in the UK although I did have to go over to Spain to sign the final paperwork.

I didn't realise that it was possible to apply for an extension of the 6 months, is this always available or due to Covid?  Perhaps a consideration here is that if you defer this into next year when the Brexit withdrawal is over, tax thresholds could change.

Currently in the Valencian region there is a tax free allowance of €100,000, there is the possibility of this changing as we will no longer be in the EU, certainly, non resident taxes will increase from 19% to 24%.

I received app 6 quotes from different Solicitors and they varied wildly but I can recommend Solmed Solicitors 0034 966 706 408.

They are English speaking and are really patient and considerate, I had loads of questions in 2014, all of them answered promptly, I have retained Solmed to this day.

Solmed are based in Los Balcones just south of Torrevieja.

Hope that some of this helps. Ken.

Thanks Ken, will contact them. A 6 month extension can be obtained, but it must be applied for within 5 months of the death. Regards Paul. 

Sign up for free or login to reply to this topic

Want to reply to this topic? Login or register for free to post your message:

Find more Taxes topics from a particular area:


Register for free!

Login to your account

Colour On Canvas
ASSSA Insurance
Agente Service Transfers SL
South East Costa Removals
Aeromax
PC Services
OTH Transport
Leos Superstore
Just One Small Step - Counselling
Costa Tree Services
Harmony FM
AA Free English TV
Advisors Costa Blanca
Gran Alacant Insurances
Advertise your business here
Advertise your property