I am grateful to Paul Montague of Blevins Franks for THIS new guide which concentrates specifically on succession taxes for the Canaries. He says that his clients are finding it very useful, and he’s happy to share it with us. I’ve also added it as a link to THIS page on inheritance and capital gains taxes.

This article has 4 Comments

  1. It will be interesting to see how the reduction in inheritance tax is affected during the UK’s transition from the EU, and the situation after we have left the EU.

  2. The situation is already clear – at least at the point the UK is considered to have left the EU. Heirs are only entitled to the tax relief if they are resident in an EU nation state. Once the UK is considered to have left the EU – probably in two years when the process started by Article 50 being triggered is over – there will be no tax relief on Spanish bequests for heirs resident in the UK.

    In the two year period of transition, the UK is technically still part of the EU, and still required to accept open borders and contributions, and so Spain should honour the tax relief for heirs in an EU member state. If they do not, of course, it would require the heir to take legal action to benefit from the tax relief.

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