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José M.
José M., Attorney
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Experience:  Spanish Attorney
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My father (Italian by birth) and his girlfriend (my mother

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My father (Italian by birth) and his girlfriend (my mother died quite young) live in a flat in Spain with a life interest until both die, the property then reverts to myself. I was born and raised and live in the UK so when eventually the flat comes to myself will there be any taxes payable in Spain? Many thanks, Maria.

José M. :

Hi María

José M. :

José M spanish attorney

José M. :

The taxes to be paid in Spain will be in the comunidad autonoma where the propiety is ( In its tax office ) The values are different between one comunidad autonoma to each other

José M. :

Another tax is the inheritage tax to be paid when one of they pass away

José M. :

I mean There are three difrent moments to pay

Customer:

So even though the legal owner is not changing - only the life interest is forgone - there is still tax to pay in Spain? What approximate percentage of the value is payable?

José M. :

Yes. Once one og them pass away you will have to pay taxes for the half of it

José M. :

But remember, once one of them pass away the names in the propiety register will change

José M. :

Once one will be pass away you will be the nude owner of the half of it

Customer:

Thank you but approximately how much tax is payable - very approximate?

José M. :

There are two taxes to pay, one in the comunidad autonoma and the other one in the city hall

José M. :

In order to know the sum to pay I need to know the catastral value of it and your age, and their ages

José M. :

In some places in spain you only has to pay 1 per cent

José M. :

In orther palces even 40 per cent

José M. :

Where the propiety is in Spain?

Customer:

Thank you - the property is worth about euros 250,000 - I am 56 and my father is 83 - the property is in Marbella.

José M. :

Ok, I am sorry to say that in Marbella ( Andalucia ) its the worst part in Spain to have to pay. Probably you will have to pay 35/40 per cent

Customer:

Okay thank you that seems very high - is it too late to transfer the property to a limited company to save this tax?

José M. :

Yes, you are on time to study several options

José M. :

To make a company could be one of them

Customer:

Thank you very much - does it need to be a Spanish company or a UK company?

José M. :

But you will need to contract an spanish attorney who study the case perfectly because you will have to protect your own interest againts the interest of your father grilfriend

José M. :

There are a lot of problems to study on the case. One of them is that the owner of a propiety in spain NOW ( since 2013 ) has to decalre taxes in spain

José M. and other Spain Law Specialists are ready to help you

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