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Go Back   Pollensa Forum > LIVING & WORKING IN POLLENSA > Living & Working in the Pollensa Area

Living & Working in the Pollensa Area This forum is for any comments, questions and advice about living (permanently or temporarily) and working in the Pollensa area. Aimed at ex-pats, property owners etc.

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  • 1 Post By lollipop
  • 2 Post By majprop
  • 1 Post By alcanadakid
  • 1 Post By Belladonna
  • 1 Post By Sparky
  • 2 Post By Deanscroft

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  #1  
Old 21-08-2012, 16:55
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Default Non Resident Inheritance Tax

There seem to be two companies who provide advice and services in avoiding Inheritance tax for those owning property in Spain but living in the UK. They are Wincham and Blevin Franks.
Anyone had experience o these or other companies?
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Old 21-08-2012, 21:13
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Why would you want to avoid it? I know it is costly but there is really no legal way of avoiding it. These companies talk about setting up a company to own the property but I think you will find that doesn't really work. If you/your family pay inheritance tax here you get some discount on the amount payable in the UK.
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Old 22-08-2012, 08:33
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If I were you I would speak to an English speaking lawyer there are plenty here, there are also ways of reducing the tax but I will leave that to them to explain if you wish to go down this road. If I were living in the U.K. I would not ask a Spanish lawyer about the legal system in the U.K.
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Old 22-08-2012, 09:16
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Quote:
Originally Posted by lollipop View Post
Why would you want to avoid it? I know it is costly but there is really no legal way of avoiding it. These companies talk about setting up a company to own the property but I think you will find that doesn't really work. If you/your family pay inheritance tax here you get some discount on the amount payable in the UK.
The loophole of setting up a company to own overseas property was closed in the last budget.
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Old 22-08-2012, 09:31
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I've lost the link that Andrew posted yesterday with the official information on - which thread is it under please?

Found it, sorry, its licensing laws.
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Last edited by Belladonna; 22-08-2012 at 09:34. Reason: Searching for link
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Old 22-08-2012, 09:57
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Quote:
Originally Posted by majprop View Post
If I were you I would speak to an English speaking lawyer there are plenty here, there are also ways of reducing the tax but I will leave that to them to explain if you wish to go down this road. If I were living in the U.K. I would not ask a Spanish lawyer about the legal system in the U.K.
There are a couple of solicitors who could advise on this subject here :- Puerto Pollensa, Mallorca (Majorca) - Property Services
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Old 22-08-2012, 17:50
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I believe that the only real (and legal) way of avoiding Spanish inheritance tax on a Spanish property is if -
1. Both the deceased and the beneficiary are Spanish residents and have been for a minimum of 5 years.
and
2. They are close relatives ie. husband/wife or parent/child.
and
3. The property remains in the ownership of the beneficiary for a further 10 years after being re-registered.

However I did read somewhere that the inheritance tax rates and allowances are regional not national.
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Old 22-08-2012, 21:19
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Quote:
Originally Posted by Belladonna View Post
I've lost the link that Andrew posted yesterday with the official information on - which thread is it under please?

Found it, sorry, its licensing laws.
Where would we be without Andrew! He has so much info to share with us!
Thanks Andrew.
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