What is needed is a complete revamp of the IHT in Spain, with regional allowances no longer determined by regional governments, meaning a person in one state pays 0 and in another state pays thousands, which seems very unfair.
A good state allowance is needed , at the same level as for wealth tax, then only the wealthy will pay it, instead of those with a modest property and assets.
While the Government is looking at IHT, I hope they do what they should always have done, and that's make spouses exempt from the tax.
Maria said it isn't a big deal-Yes it is, Maria, big enough to put people off moving to Spain, and big enough to make them want to leave!
Murcia has shot itself in the foot by abolishing its regional allowance, as now many people will only be non residents there, or move to another state or even back to the UK.Instead of gaining money from the increased IHT, it will loseout. We can't all invest our property in a UK company, get Spanish compliant bonds, keep the property for 10 years paying taxes, then paying CGT when we sell it, or leave our assets to 10 people so as to reduce the tax.