It is vitally important to write a French will if you live in France. French inheritance rules are relatively complex. Understanding how they work and what can be done to mitigate tax requires the input of various professional parties. When someone dies without a will, the estate of the deceased is distributed in accordance with the rules of intestacy […]
The Spanish compliant investment bond
Thank goodness for the Spanish compliant investment bond! Each country’s tax code seems to have various ways of relieving us of our money. However, they also offer ways to legitimately avoid taxation if we purchase the correct financial products. In the UK, most people know the tax-saving nature of pension plans and ISAs. However, the […]
Spanish inheritance tax
Spanish inheritance tax and general tax legislation fall under the banner of Napoleonic law. Succession and gift tax, Impuesto sobre Sucesiones y Donaciones (ISD), apply to beneficiaries of gifts and inheritances for Spanish tax residents. ‘Forced heirship’ rules determine how to divide an estate and what tax rate applies to recipients. There are four categories […]
Domicile and inheritance tax
There are few ‘famous’ legal cases regarding domicile and inheritance tax, but when a celebrity is involved the media will often pick up on it and create newsworthy stories. One such case is that of Richard Burton, the silver screen celebrity of the 50s, 60s and 70s. His oft-reported stormy relationship with the equally famous, […]
Double Taxation Treaties and Overseas Pension Transfers
Double Taxation Treaties (DTTs) are legal mechanisms between countries which ensure individuals and companies do not pay tax twice on the same trade, asset or income in both the country of source and that of residence. As such, if a British person who is tax resident in Spain holds assets in the UK, the DTT […]