Jaime Vives

Director (Spain)

Wincham Consultants Limited

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By Jaime Vives - Thu 13th Mar 2014

 

Tumbit Approved Partner

During the 3rd & 4th of April Wincham will be at the Homes, Gardens and Lifestyle Exhibition (stands 4 & 5) located at The Diamante Beach Hotel offering new and existing clients the opportunity to discuss their personal circumstances on a one-to-one basis, providing a free of charge Spanish Inheritance Tax (IHT) illustration.

Before contacting Wincham most property owners are either unaware or have been misled about the potential financial burden their beneficiaries may face upon their death. The surviving partner, or beneficiaries, may have a tax bill which exceeds the value of the entire Spanish asset being inherited plus the cost of obtaining probate in more than one country.

The Wincham solution to the IHT/ISD problem in Spain is for the owner/s to invest their Spanish property into a new UK company where the owners are both the shareholders and directors and remain in complete control of their asset. (There is no 7-10% Property Transfer Tax payable on this transaction). The property then becomes owned within a UK company and as such comes under UK tax law. Any transfers between a husband and wife in the UK are tax exempt. Each individual has an allowance of 325,000 sterling before IHT is payable in the UK and a couple would therefore have a combined allowance of 650,000 sterling.

The professionals at Wincham in the UK and Spain are on-hand to help clients through this process as smoothly as possible. There are many taxation benefits when investing a property into your own UK Limited Company together with the ability to structure the ownership of the Company to suit Beneficiaries needs in a way that is simply not possible under Spanish law.

Whilst all advice is without obligation, our time is limited : Please contact us by clicking on the banner below to reserve your appointment today