Inheritance Tax

4 Replies

Does anyone have any knowledge of inheritance tax in Mallorca? We own our house here and don't know the process or whether a British Will would be recognized here. Thanks for any possible help.

Replies

SteveRiches-11395 1241092388

All I know is that Spanish law is a lot different from the UK. There can be really awful occasions when a property is not in joint names, the partner holding the rights to the property dies, and the one left behind has to stump up inheritance tax immediately. On top of that I believe there can be occasions when you end up paying twice, once in Spain and once in UK. Hopefully someone will post on here with the details, but if not you need to find an English-speaking Spanish lawyer and pay for the info. No doubt that'll be expensive.



esporlesbabe 1241095419

Thanks for your reply Steve. Yes - I had a feeling it was going to be awkward!




SteveRiches-11395 1241098913

I know that Blevins Franks spend an inordinate amount of money advertising their English legal advice service, everything I've read from them makes sense, however I'd suspect they cost an arm and a leg. I got a Spanish will made at a local English speaking Spanish lawyer for around £70 equivalent, but that was a few years back and I need to change it now and maybe the costs have risen - but as well as a will I'm sure you'd need Inheritance Tax advice. When I get out to Mallorca late this weekend I'll check out any useful telephone numbers and stick them on this messageboard thread.



esporlesbabe 1241099663

Excellent - thank you very much. At times I think the big advertisers can talk up the problem too!




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