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Inheritance taxes - UK & Belgium + Spain

Anonymous
Nov 27, 2018
8
Question

My late British parents lived in the UK & in Spain.
For a small amount of inheritance (+/- 10 grand (max)) does anybody happen to know if one has to pay inheritance taxes in all these countries? If yes, what is the amount of inheritance taxes?

anon

Where were they tax resident when they passed away?

Nov 27, 2018 16:33
abc123

I think also it depends on the country the money is based in and who (as in what relationship) the inheriter has to your parents.

It's all frankly very complicated.

Nov 27, 2018 17:29
anon

Yes, an estate in the UK has a £325,000 exemption, therefore no inheritance, but in Spain, for a direct decendant, it's something like 8% with no exemption, however the question is far from clear, and isn't logical. How would a couple living in both Spain and the U.K. have an estate of only £10,000.

OP is the £10,000 what you are getting, or is it the total value of the deceased estate? Also, did both parent die at the same time?

Nov 27, 2018 18:03
Anonymous

Thank you for your replies. Far too many complications. My British parents were fulfilling their dreams to travel the world. They told me that they did not own a UK property, but stayed with family for a couple of weeks. They told me they had purchased a chicken hut in Spain (I do not know if this is sold). I think their might be many hidden debts that will need to be paid, so it is possible that I might receive only £10K, but then have to deduct all the debts and pay taxes. Perhaps I should refuse any inheritance. I do not know in which country they left any money, or any other assets.

Nov 29, 2018 11:58
anon

You need legal advice that goes beyond what people here can suggest.
Call your parents solicitor.

Nov 29, 2018 13:24
Anonymous

Hi Anon

Thanks for your reply. My parents have left a legal and financial mess and I do not know the name of my parents solicitor.

Nov 29, 2018 20:45
J

Err - the solicitor should be contacting you - or at least the executors of the will should be.
If there's no will, you're in the shite.

Nov 30, 2018 01:06
anon

OK, in that case, you should get your own solicitor.

Nov 30, 2018 09:28