{"id":2418,"date":"2017-06-17T14:46:05","date_gmt":"2017-06-17T14:46:05","guid":{"rendered":"http:\/\/decottalaw.com\/?p=2418\/"},"modified":"2017-08-17T14:52:45","modified_gmt":"2017-08-17T14:52:45","slug":"tax-inheritance-tax-2017-andalucia","status":"publish","type":"post","link":"https:\/\/decottalaw.com\/es\/tax-inheritance-tax-2017-andalucia\/","title":{"rendered":"Inheritance tax 2017 Andalucia"},"content":{"rendered":"

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Inheritance tax in Spain is charged differently in the regions of Spain if you are an EU resident. There have been some very beneficial inheritance tax changes this year in Andalucia. They apply when both deceased and the beneficiaries are resident in a European Union country*. <\/span><\/p>\n

Main home relief<\/strong><\/p>\n

If certain criteria are met, there can be a reduction in the value of the deceased\u2019s main home which depends on the \u2018real net value\u2019 of the property. The reduction depends on the value of the share of the property received by each beneficiary. The reduction is applied to the value of the property before the tax is calculated.<\/span><\/p>\n

Up to \u20ac123,000 (value of share received by each beneficiary): 100% reduction<\/span><\/p>\n

Between \u20ac123,000 and \u20ac152,000: 99% reduction<\/span><\/p>\n

Between \u20ac152,000 and \u20ac182,000: 98% reduction<\/span><\/p>\n

Between \u20ac182,000 and \u20ac212,000: 97% reduction<\/span><\/p>\n

Between \u20ac212,000 and \u20ac242,000: 96% reduction <\/span><\/p>\n

More than \u20ac242,000: 95% reduction<\/span><\/p>\n

This reduction only applies if the following conditions are met:<\/span><\/p>\n

The beneficiary inheriting the property is a spouse, ascendant or descendant, or if a more distant relative, they must be aged over 65 and who lived with the deceased for two years prior to the death.<\/span><\/p>\n

The property has to be kept for <\/span>three years <\/span>after the inheritance, although it does not have to be the main home of the recipient(s). <\/span><\/p>\n

So for example if one beneficiary receives his mother\u2019s property worth \u20ac500,000 the value is reduced by 95% to \u20ac25,000 before you calculate the tax. Or if two children receive a property worth \u20ac240,000, each receives a reduction of \u20ac123,000 on their share so there is no taxable value at all.<\/span><\/p>\n

Tax free allowance on inheritance<\/strong><\/p>\n

Taxable beneficiaries are divided into four distinct groups which are taxed in \u00a0different ways.<\/span><\/p>\n