9. To make matters even more complicated the rules do vary from region to region in Spain.
10. In any event Spanish inheritance tax is a big problem and people generally only realise this when it is too late to do anything about it.
Fortunately you will not have any of these problems because we are introducing you to the Wincham Spanish Inheritance Tax Scheme which also just happens to protect against Spanish Capital Gains Tax and Income Tax as well. It may also remove any latent UK Inheritance Tax liability in respect of your Spanish asset and even if it doesn’t measures can be taken to ensure your UK estate is adequately protected; and because of capital gains tax reliefs available in the UK it will at worst significantly reduce this capital tax too if not remove it altogether.
Introducing: The Wincham Inheritance Tax Protection Strategy
· You can shield your children from Spanish Inheritance Tax by using a simple, legal tax shelter that means it remains in the family, free from burdens like Inheritance taxes, death duties and legal fees.
· You can build a solid wall of defence so that when the time comes, a simple declaration moves the ownership from you to your beneficiaries.
No taxes or lengthy Spanish Will probate, no Spanish and UK legal fees... no forced sale.
No taxes or lengthy Spanish Will probate, no Spanish and UK legal fees... no forced sale.
· You will maintain full control of your property at all times. You can rent it, sell it, raise funds on it, just the same as you can right now.
· You have the control to divide the property between beneficiaries in a much simpler format than normal Spanish Wills allow.
· You can even change the ownership percentages, without additional legal costs.
· Your new structure is a safe and effective way to transform a potential tax bill of 40%- 50% of your asset value, to just a few percent now, and a little in the future.
· The will be able to claim tax relief on all attributable expenses including Electricity, Rates, Repairs, Insurance, Community Fees, Bank and Mortgage Interest and travelling expenses to and from your property’s location.
Exactly how is this Spanish Inheritance tax protection created?
· By forming a UK Company: The owner of the property forms a UK Limited Liability company, in which ownership of the property passes into the hands of the company. In this way when he or she passes away, the company will be reorganised, that means it will only be necessary to transfer some company shares, an action which falls outside Spanish inheritance tax.
· By transferring ownership of the property from you (your personal name) into a United Kingdom Limited company.
So, from the point of transfer the company owns the asset.
