Gifting a Property in Spain to Children. Is it a Good Idea?

Gift­ing a prop­erty in Spain to Chil­dren is a very good idea in the Valen­cia re­gion right now. In the past two years we have been very busy with dona­tions in this re­gion. Gifting a Property – Tax Free Allowances Each child (chil­dren of the prop­erty own­ers but adults) gets a 100,000€ tax free al­low­ance at the present time in the Valen­cia re­gion. This gen­er­ally means that a prop­erty can be passed onto the next gen­er­a­tion with little or usu­ally no in­her­it­ance tax. It is [...]

UK expat tax bills could skyrocket due to coronavirus lockdown

As non-residents hope ‘HMRC may be more lenient in its approach’ The coronavirus outbreak has caused widespread chaos in a number of different ways and it could hurt tax bills as well. According to accountancy group UHY Hacker Young, British expats and non-residents stuck in the UK due to covid-19 lockdowns may be hit “by major unexpected and heavy tax bills”. The firm said that if non-residents breach the maximum number of days they are allowed to spend in the UK to retain their non- [...]