99% TAX REDUCTION FOR EU OWNERS OF A SPANISH PROPERTY
If you are the owner of a property in Andalucia, Spain, there is always the subject of the future, and what you will do with it.
Currently, there is a little known Tax Break, especially interesting for owners who plan to pass the property to their children by means of a will.
An agreement can be made where parents can ‘ Donate ’ the property to their children NOW and in doing so, avail of a reduction of 99% of the inheritance tax!
That is quite a saving.
To break it down to numbers. If you have a property that would have a taxable value of €127,400 the tax payable for the donation would normally be €17,035
Under the current Tax Break, Owners of a Spanish Property,who are members of the EU, and has a property in the regions of Andalucia and Canary Islands, would now only pay €170.55
That is an incredible saving of €16,864.65
As with all good deals regarding tax, this is not an offer that will last forever and the PSOE (opposition party to the current Government in Andalucia ) are keen to have the tax break quashed.
If you have a property in Andalucia and would like more information regarding the ‘ Donation Tax’ please get in touch with LCPSpain and we will let you know how well it can work for you.
Get in touch by calling +34 648088100 or by sending an email to OFFICE@LCPSpain.com
To get a fast reply, please include the CATASTRAL number of the property. Don’t worry if you don’t know what that is. We can call you and explain everything.
LCPSpain.com, More than a Real Estate Agency