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José M.
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I am originally from the UK but am now a Spanish resident,

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I am originally from the UK but am now a Spanish resident, paying Spanish taxes etc etc. My mother has recently died in the UK and I am likely to inherit a sum of money. No inheritance tax is liable on this amount in the UK as it is well below UK inheritance tax thresholds but if it is paid into my Spanish bank account will I have to pay tax on this and if so how much ?

Attorney3044 :

Hi

Attorney3044 :

If you do not have to pay taxes in Uk you do not have to pay them in Spain as long as the assets are not in Spain

Attorney3044 :

If the assest are in Spain you must pay but not if they are not and it is just money

Attorney3044 :

Inheritance and Gift Tax: regional


This tax applies to the beneficiaries of the inheritance or gift. The tax is on assets received with a value over 8000€. Even if the beneficiaries are not residents of Spain, they must pay this tax when the assets or rights are located in Spain. The tax rate starts at 7.65% and rises to 34% for assets with a value above 815,000€. If the beneficiary is a child (under age 18) of the deceased, then the tax rate on the assets is reduced to 5%.

Attorney3044 :

It comes from

Attorney3044 :

http://www.strongabogados.com/taxes.php#PersonalTaxes

Attorney3044 :

Thank you

Attorney3044 :

I will be here if needed

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