In answer to the member who asked if inheritance taxes would increases by 90% I did not know the percentage but was aware of the changes due after a possible BREXIT. I emailed a very good notary known to me for many years and they have kindly responded with the information pasted below.
Hi Myra. Its very simple really!
Each of the autonomous regions in Spain have their own Inheritance Laws, which will be applied to wherever the property is situated.
In Andalucía, all european nationals, residing in the European Union, are entitled to the same deductions as the Andalucian residents. This means up to 175.000,- euros per heir, free of Inheritance Tax.
In other words, if Britain comes out of the Union, British nationals will no longer be classified as european members liable for these deductions, therefore only being entitled for the state deduction of 15.956,87 euros per heir, if they are direct descendants – this means a huge difference!!
i.e. A British couple jointly owning a property on the Costa del Sol, valued at 200.000 euros (100.000,- each per half; remember there could also be bank accounts
or car to add to the estate, too!!))
One of the spouses sadly dies leaving that half to the surviving spouse, the heir would, in fact, be potentially liable for over ten thousand euros in Inheritance Tax.
The higher the amount that is inherited, the higher the applicable tax percentage actually becomes.