SPANISH PROPERTY INHERITANCE TAX ‘TIME BOMB’
Property owners in Spain hoping to provide some security for their children or spouses after their deaths could be leaving them a financial headache instead according to a Corporate property ownership specialist. “Non-domiciled property owners in Spain are sitting on a ticking IHT time bomb,” said Mark Roach of Wincham Investments. “Most owners do not understand that their heirs and their estate may pay IHT in two jurisdictions, Spain and their country of domicile. In Spain, the individual inheritor is taxed whereas in other countries it is the estate that is taxed. This could mean that on the death … Continue reading SPANISH PROPERTY INHERITANCE TAX ‘TIME BOMB’
