13 Mar 2018 10:04 AM:

Hi Finner, I would definitly recommend you get a specialist lawyer/ solicitor who deals with this... My father and distant cousin died 3 years ago, and my dads probate is still not through!! My cousin left some cash and land between 5 of us.... The irish lawyer has kept the tax on this, until i have proof of paying it in spain!! unreal! Its a mess realy... The land, although my share is under 50k, as far as i Know it still needs to be declared on 720 form, as the total  land value is over 50k. (between us)

You realy do need to get a solicitor to deal with this, as esp there is land/house involved, and siblings.

You have an alowance of 100k in spain, so if your inheritence is over this then you pay tax. (in ireland its 300k!) .. I think its about 20%, but not sure.. You need to get the death cert, his will and land plan/info translated legaly, so I would get this done asap to bring to solicitors...

It probably best to lodge it in Ireland, until you have declared your inheritence,and transfer it in dribbles if you need cash or withdraw from here..( i think anything over 6 or 10k that is transfered to your account here, will be reported to main banking entity), so transfer small amounts.

When you have inheritence declared, and tax paid, I suggest you fill out 720 to declare property, and cash if its still in your Irish account... It would probably be easiest to transfer cash into yr spanish account, once inheritence is declared, so you only need to declare the irish property on 720..

hope that helps..

Thread: Inheritance Tax on Irish assets

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22 Feb 2018 11:25 AM:

If I am correct, that 720 form may eventualy apply to his situation... If he is left cash or property over 50k, then he will need to declare it in his bank account on  the 720 form, correct? Also, if he was left property with another sibling, and the property is worth 60k say,  then he would still need to declare it in form 720, as the property is worth over 50k.

 

But first the inheritence tax needs to be declared... If the inheritence is under 350k, then the Irish lawyer wont withhold money to pay to revenue.... If its over 350k, then the Irish lawyer will withhold the tax payable in Ireland. In spain 100k is the amount you can inherit from a parent without tax, so if inheritence is between 100-350k, then anything after 100k, tax needs to be paid in spain.

 

purdy

Thread: Inheritance Tax on Irish assets

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01 Feb 2018 4:06 PM:

... you will also need the will and death cert legaly translated... as well as the plan of the house and acerage if aplicable...The law firm i have been recomended to are SANCHEZ MOLINA ABOGADOS in barcelona

Thread: Inheritance Tax on Irish assets

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01 Feb 2018 4:03 PM:

I am in a simular situation, and as far as I am aware, in ireland you are allowed to inherit 350k, and here in catalunya 100k... so if its under 100k, then you wont have to pay tax... You will need to get a lawyer specialiing in inheritence, then they will submit your inheritence forms,..... You may also need to submit a 720 form, if you have land or cash over 50k in your name, in ireland, after the inheritence..

If it is over 350k, then your irish lawyers will withhold the tax (33% i think) until you have paid it in spain.

Hope this helps.. if you have any advance on your situation, please let me know, as currently I am looking for lawyer to do my inheritence, and so far ive got a quote for 600€, just to deal with this!

Thread: Inheritance Tax on Irish assets

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