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 [...]Fuente: Spanish Solutions // 9th April 2020
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- [...]Fuente: By Robbie Lawther // 23rd March 2020