How pays taxes an inheritance or a donation


The inheritance tax and donations is that which regulates in Spain the transmission of goods between individuals, as long as it is free transmissions. This difference tax clearly two key concepts: on one hand, establishes as donation the free transmission of goods between living people; for another, defines as succession all that is inherited for the death of the owner of the goods, included the life insurances.


One inheritance it can become a quebradero of head for who receives it if has not been done good the will or the holder does not know how manage which receives. Each of the heirs is obliged to declare the perceived thing and to pay taxes for this reason paying the corresponding inheritance tax.


So much one as another are regulated for the Act 29/1987, although from its announcement has received modification and update multitude. This standard points out that is a tax whose collection falls on the autonomous communities and that, therefore, each of them will be able to establish the deductions that it considers.



How is calculated


To calculate how much it is necessary to pay for the increase of the assets of the payee it is necessary to determine, in the first place, which is the basis of assessment of the tax. In the case of one donation, this is calculated with the real value of the goods less the loads and debts that they can cause; specifically, if there are debts, the proportional part of the tax can be returned to the holder once paid the debt.


In the case of one inheritance for succession, they will be able to deduct the expenses for the management of the allocation between the heirs, possible medical fees that it had generated the deceased and expenses of the interment and the funeral.


Additionally there are differences according to the degree of family relationship of the involved of the age of the receiver (when there is less than inherit for the death of one of its parents there are different reductions) and even of the assets that the heir has before the death. The tax has pay in the six months next on the death, although, is usually possible to request an extension for other six months more.



Differences between an autonomy and another


Every Autonomous Community decides what reductions applies to the inheritance tax and donations. As a consequence, there is a major one regulatory diversity. Thus, there are Autonomous Communities with discounts of up to 99% of the fee of the tax provided that is produced between family self members (and depending on the degree of relationship according to the Autonomous Community), which means that practically is exempt. But there is others that do not apply no discount of this kind and where, depending on the amount, you can arrive at pay until 34% of the tax basis.


In the event of having pay these taxes suits learn more before the autonomous standard in force to avoid problems and even carry out the pertinent enquiries before the organisations tax collectors autonomous, given that there is certain type of donations that demand specific so that sconce formalities the discount, such as, notarised contract when it is donations of money in the Community of Madrid.



How affects to the annual tax return


As the same fact twice can not pay taxes, according to the article 4 of the Royal Decree 1629/1991 from Regulations of the Inheritance tax and Donations, if when receive the donation or inheritance the amount corresponding to the tax is paid, will not be necessary to pay taxes again for him before the Tax Agency in the annual tax return.


Although, is not often taken into account and is significant to emphasise that, in the cases of donations, who yes can have pay taxes in its PERSONAL INCOME TAX is the donor. Who makes a donation, he should pay taxes as a patrimonial gain in its PERSONAL INCOME TAX for the difference between the value of marked (current setting) of donated good and the value through which acquired it. This is usual when are donated properties. On the other hand, this gain does not exist when which is being donated is money.


Is necessary to keep all the documents, certificates and certificates of credit made those procedures, since the Administration has four years to demand the payment.


With respect to the profits that generates an inheritance yes that it is necessary to declare them in the Personal Income Tax: when inheriting a flat already the corresponding inheritance tax is paid, but if later on is rented, ones are obtained incomes that yes that it is necessary to include in the annual tax return. With the stock of a company would happen the same thing: the stock have already paid taxes but the dividends that they bring not.




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