I am sick of the EU.
Discussion
I find myself in the position of acting as exectutor for my step grandfather's estate.
My grandmother remarried late in life and the chap was potless when they met, he survived her by some few years, he had no relatives, so in moral terms, my mother will be inheriting the proceeds from her parents estate.
There is a villa in Spain to be sold, we've agreed a price with a buyer of 200k euros.
In the UK in inheritance tax would be nil.
In Spain it is 65,000 euros. sixty five thousand. Nearly 33%. Thieving b
ds.
What the bloody hell is the point of the EU and its common currency? Robbing bds.
Common economy my arse, its a complete flaming sham.
I'm furious.
My grandmother remarried late in life and the chap was potless when they met, he survived her by some few years, he had no relatives, so in moral terms, my mother will be inheriting the proceeds from her parents estate.
There is a villa in Spain to be sold, we've agreed a price with a buyer of 200k euros.
In the UK in inheritance tax would be nil.
In Spain it is 65,000 euros. sixty five thousand. Nearly 33%. Thieving b
ds.What the bloody hell is the point of the EU and its common currency? Robbing b
ds.Common economy my arse, its a complete flaming sham.
I'm furious.
Huntsman said:
I find myself in the position of acting as exectutor for my step grandfather's estate.
My grandmother remarried late in life and the chap was potless when they met, he survived her by some few years, he had no relatives, so in moral terms, my mother will be inheriting the proceeds from her parents estate.
There is a villa in Spain to be sold, we've agreed a price with a buyer of 200k euros.
In the UK in inheritance tax would be nil.
In Spain it is 65,000 euros. sixty five thousand. Nearly 33%. Thieving bds.
What the bloody hell is the point of the EU and its common currency? Robbing bds.
Common economy my arse, its a complete flaming sham.
I'm furious.
So let me get this straight. You are pissed off because the EU gave your step-grandfather the opportunity to move to a nice hot country to live out his twilight years in sunlight and sangria, and as a result you don't get quite so much of an inheritance? My grandmother remarried late in life and the chap was potless when they met, he survived her by some few years, he had no relatives, so in moral terms, my mother will be inheriting the proceeds from her parents estate.
There is a villa in Spain to be sold, we've agreed a price with a buyer of 200k euros.
In the UK in inheritance tax would be nil.
In Spain it is 65,000 euros. sixty five thousand. Nearly 33%. Thieving b
ds.What the bloody hell is the point of the EU and its common currency? Robbing b
ds.Common economy my arse, its a complete flaming sham.
I'm furious.
Huntsman said:
In Spain it is 65,000 euros. sixty five thousand. Nearly 33%. Thieving bds.
What the bloody hell is the point of the EU and its common currency? Robbing bds.
Common economy my arse, its a complete flaming sham.
I'm furious.
This has got fds.What the bloody hell is the point of the EU and its common currency? Robbing b
ds.Common economy my arse, its a complete flaming sham.
I'm furious.
k all to do with the EU, its to do with Spanish law.And we haven't got a common economy. We don't particularly want one either. That's why the boats and the tunnel are full of Brits, day in day out, going to France and Belgium for cheap fags and booze, and the same boats are full of French and Belgians comimg the other way to go to Marks & Spencers.
Swings and roundabouts, old boy. You can't blame the EU for your plight, no matter how convenient it may seem
Odditted for teepees, even though I've already been quoted. Just to prove I noticed 'em
Edited by rs1952 on Tuesday 13th March 19:42
rs1952 said:
Huntsman said:
In Spain it is 65,000 euros. sixty five thousand. Nearly 33%. Thieving bds.
What the bloody hell is the point of the EU and its common currency? Robbing bds.
Common economy my arse, its a complete flaming sham.
I'm furious.
This has got fds.What the bloody hell is the point of the EU and its common currency? Robbing b
ds.Common economy my arse, its a complete flaming sham.
I'm furious.
k all to do with the EU, its to do with Spanish law.And we haven't got a common economy. We don't perticularly want on either. That's why the boats and the tunnel are full of Brits day in day out going to France and Belgium for cheap fags and booze, and the same boats are full of French and Belgians comimg the other way to go to Marks & Spencers.
Swings and roundabouts, old boy. Yopu can't blame the EU for your plight, no matter how convenient it may seem
As others have said, this has bugger all to do with the EU.
Your figures don't make much sense to me though. You will be paying Capital Gains tax, as a non-resident, at 35% I think from memory. On the Capital Gain. If your net tax bill is 33% of the total proceeds, then the cost price of the property must have been very low. Or you haven't got the calculation right. Plus the original cost price gets 'indexed' as time goes by, which has the effect of reducing the gain. Time to see a Spanish tax lawyer if you haven't already done that.
Your figures don't make much sense to me though. You will be paying Capital Gains tax, as a non-resident, at 35% I think from memory. On the Capital Gain. If your net tax bill is 33% of the total proceeds, then the cost price of the property must have been very low. Or you haven't got the calculation right. Plus the original cost price gets 'indexed' as time goes by, which has the effect of reducing the gain. Time to see a Spanish tax lawyer if you haven't already done that.
Riff Raff said:
As others have said, this has bugger all to do with the EU.
Your figures don't make much sense to me though. You will be paying Capital Gains tax, as a non-resident, at 35% I think from memory. On the Capital Gain. If your net tax bill is 33% of the total proceeds, then the cost price of the property must have been very low. Or you haven't got the calculation right. Plus the original cost price gets 'indexed' as time goes by, which has the effect of reducing the gain. Time to see a Spanish tax lawyer if you haven't already done that.
If you are U.K. resident you are subject to the double taxation treaty on Spanish capital gains (you don't pay twice).Your figures don't make much sense to me though. You will be paying Capital Gains tax, as a non-resident, at 35% I think from memory. On the Capital Gain. If your net tax bill is 33% of the total proceeds, then the cost price of the property must have been very low. Or you haven't got the calculation right. Plus the original cost price gets 'indexed' as time goes by, which has the effect of reducing the gain. Time to see a Spanish tax lawyer if you haven't already done that.
Wiki:
For individuals from January 1, 2012 capital tax change in Spain. First EUR 6.000 will be taxed at 21%, gains from EUR 6.000 to EUR 24.000 will be taxed at 25%, and the gains above EUR 24.000 will be taxed at 27%.
The tax is on the sale (realising the capital gain) not the inheritance.
Edited by 1point7bar on Tuesday 13th March 18:33
Riff Raff said:
As others have said, this has bugger all to do with the EU.
Your figures don't make much sense to me though. You will be paying Capital Gains tax, as a non-resident, at 35% I think from memory. On the Capital Gain. If your net tax bill is 33% of the total proceeds, then the cost price of the property must have been very low. Or you haven't got the calculation right. Plus the original cost price gets 'indexed' as time goes by, which has the effect of reducing the gain. Time to see a Spanish tax lawyer if you haven't already done that.
Forget what I've posted, as this is an Inheritance Tax issue rather than straight Capital Gains. The rate still seems really high though, if the estate consisted of nothing more than the dwelling.Your figures don't make much sense to me though. You will be paying Capital Gains tax, as a non-resident, at 35% I think from memory. On the Capital Gain. If your net tax bill is 33% of the total proceeds, then the cost price of the property must have been very low. Or you haven't got the calculation right. Plus the original cost price gets 'indexed' as time goes by, which has the effect of reducing the gain. Time to see a Spanish tax lawyer if you haven't already done that.
I'd still advise seeing a good tax lawyer though. The Spanish tax system is an absolute minefield.
Huntsman said:
I find myself in the position of acting as exectutor for my step grandfather's estate.
My grandmother remarried late in life and the chap was potless when they met, he survived her by some few years, he had no relatives, so in moral terms, my mother will be inheriting the proceeds from her parents estate.
There is a villa in Spain to be sold, we've agreed a price with a buyer of 200k euros.
In the UK in inheritance tax would be nil.
In Spain it is 65,000 euros. sixty five thousand. Nearly 33%. Thieving bds.
What the bloody hell is the point of the EU and its common currency? Robbing bds.
Common economy my arse, its a complete flaming sham.
I'm furious.
You could always emigrate there and live in the sun....My grandmother remarried late in life and the chap was potless when they met, he survived her by some few years, he had no relatives, so in moral terms, my mother will be inheriting the proceeds from her parents estate.
There is a villa in Spain to be sold, we've agreed a price with a buyer of 200k euros.
In the UK in inheritance tax would be nil.
In Spain it is 65,000 euros. sixty five thousand. Nearly 33%. Thieving b
ds.What the bloody hell is the point of the EU and its common currency? Robbing b
ds.Common economy my arse, its a complete flaming sham.
I'm furious.
Huntsman said:
Common economy my arse, its a complete flaming sham.
The PH position on this one is that the LAST thing people want is a common economy and they celebrate UK's abstinence from the Euro.What you need to address your tax issue is a federal Europe (with UK membership) to achieve fiscal harmonisation.
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