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Hi, I am looking for advice on inheritance tax. We are looking to purchase a property but wondered if we should purchase in joint names or single. We will be non residents initially however within a couple of years we are looking to apply for residency.
Any advice on this subject appreciated.
Thanks
Donna
Posted: Tue Nov 15, 2022 11:56am
Very helpful member
Your solicitor will advise you. When you see her/him ask all about wills and anything rlse you are concerned about. That is what they are there for, and most are very helpful. The general advice is to purchase in joint names. However, ensure you get good advice. Best of luck 👍
Posted: Tue Nov 15, 2022 9:50pm
Helpful member
If you are a married couple then you should not have any problems with IHT over here in Spain. However, if you are a couple who live together then the IHT bill either of you would have to pay if either one of you passes away could be huge! If you are a couple who live together then we found a way around the Spanish Inheritance Tax many years ago, if you want to know more I can let you know as it has worked for us. Good luck, By the way we purchased the house in Spain in Joint names and are glad that we did but the IHT worried me until we sorted it out.
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Posted: Tue Nov 15, 2022 10:23pm
Sheila64 wrote on Tue Nov 15, 2022 11:56am:
Your solicitor will advise you. When you see her/him ask all about wills and anything rlse you are concerned about. That is what they are there for, and most are very helpful. The general advice is to purchase in joint names. However, ensure you get good advice. Best of luck 👍
Thanks Sheila
Posted: Tue Nov 15, 2022 10:24pm
Andrea Murphy wrote on Tue Nov 15, 2022 9:50pm:
If you are a married couple then you should not have any problems with IHT over here in Spain. However, if you are a couple who live together then the IHT bill either of you would have to pay if either one of you passes away could be huge! If you are a couple who live together t...
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...hen we found a way around the Spanish Inheritance Tax many years ago, if you want to know more I can let you know as it has worked for us. Good luck, By the way we purchased the house in Spain in Joint names and are glad that we did but the IHT worried me until we sorted it out.
Thank you Andrea. We are married.
Posted: Wed Nov 16, 2022 10:10am
Helpful member
Dondinz wrote on Tue Nov 15, 2022 10:24pm:
Thank you Andrea. We are married.
The IHT tax for married people out in Spain is very low but seek the advice of a Solicitor to ensure it is done correctly. Good luck,
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