Inheritance tax

Thank you for the info will keep them in mind. Is it 40% inheritance tax though?

Thank you.

Hi, we have the same problem.   

We use Wincham International Limited who have offices in Calpe and England.   They are Accountants.   Our house here in Spain was purchased with an English Registered Company of which we are the sole Shareholders and sole Directors.   This way the house we live in is in Spain but is owned by our English registered Company.   This way the house [but only the house] comes under UK Inheritance Tax Rules.   I think you will find this is the only way around not paying the expensive inheritance on your house  that you live in in Spain should anything happen to one or other of you.    If you need more help and advice email me [email protected] or telephone me 616 478 157 will be glad to help answer any questions you may have.

Why not give them a call I don’t think it is as much as that but we are married so your case maybe different 🙈

Are you sure about that Andrea?   YES I AM SURE, HAVE BEEN FOR QUITE A NUMBER OF YEARS, HAVE ALSO SOLD THE PREVIOUS HOUSE I OWNED IN SPAIN AND PURCHASED ANOTHER ONE USING THE ENGLISH REGISTERED COMPANY.

I would have thought that any property in Spain, irrespective of the ownership, would come under Spanish tax laws. It should also affect plusvalia as the 'owner' is not registered in Spain. - THE OWNERS [DIRECTORS AND SHAREHOLDERS] ARE REGISTERED IN SPAIN AND SPANISH RESIDENTS, IT IS THE HOUSE THAT WE ARE TALKING ABOUT.  Also, wouldn't the 'owner' (your company) be subject to annual taxation in Spain?   THE HOUSE IS THE ONLY THING THE COMPANY OWNS, DOES NOT MAKE ANY MONEY SO DOES NOT PAY TAX.

Sounds as if the complications of an offshore ownership could be more expensive than paying the Spanish inheritance tax!   NO COMPLICATIONS, AS IT IS DONE IN ENGLISH AND SPANISH AND REGISTERED WITH THE SPANISH AUTHORITIES.   YOU NEED TO TALK TO WINCHAM INTERNATIONAL, THEY ARE TOTALLY UP WITH THIS AS THIS IS THEIR JOB, THEY WILL EXPLAIN IT BETTER THAN I AN.   ALSO WE GOT THE 6000 TAX BACK WHEN WE SOLD OUR OTHER HOUSE AND PURCHASED THIS NEW ONE!

The case is different for tax if you are not married, give Wincham International a Call OR look on their web site and you can do a type out for yourself of how much inheritance tax you would have to pay if you were not married.   Worth giving them a call in any case, costs nothing, also you can do it on their web site and ask any questions you want.   At least we have peace of mind as the inheritance tax if you are not married is extremely high, not sure of the percentage.

Hi, just as an afterthought.   We are not wealthy people so we do not normally dabble in offshore or anything similar.

Our problem was that if anything happened to either of us the other would have had to pay around 38,000 Euros Inheritance Tax in Spain.   The inheritance tax is an awful lot higher if you are not married.   We do not have that amount of money.   

I had lots of years of sleepless nights worrying about the inheritance tax if anything happened to either of us, that is until I found that the house could legally be owned [in Spain and in the UK] by our own uk registered company [which we did not have at the time - Wincham set that up for us], could be done with Wincham International.

Get in touch with them and find out for yourselves - I even spoke with people in Spain and the UK who had done the same with that company before we changed our house over.   Their details are:

UK Office Address: Wincham House | Greenfield Farm Trading Estate | Congleton | Cheshire | CW12 4TR
UK Tel: +44 (0)1260 299 700 | UK Fax: +44 (0)1260 281 260 | Email: [email protected]

Alicante Office Address:Av. Ejercitos Espanoles 10 | Edificio Apolo VII, Local 41 | Calpe, 03710 | Alicante | Costa Blanca | Spain
Postal Address: Avenida Ejercitos Españoles, 10 Bajo | Apartado De Correos Nº 79 | Calpe, 03710 | Alicante
Spain Tel: 0034 965 830 991 | Spain Fax: 0034 965 838 329 | Email: [email protected]