The payment of Inheritance tax varies in different regions of Spain and in some you will be exempt or pay a lesser percentage. Allowances differ also.
You will have six months from the date of death to pay these taxes so the inheritance can be accepted. You may ask for an extension to pay period before the sixth months is up (suggest that this is applied for as soon as possible). You will be charged interest on the extended payment period.
This also applies to the ‘plusvalia’ tax which is also due to the town hall.
Please read about the possible reduction on the plusvalia tax on Juan/lawyer blog.
Please note: The information provided is based upon our understanding of current legislation. It is not legal advice but is provided freely to enable you to be properly informed. We recommend that if you are considering taking action, you should seek professional advice.
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