Spain is
The slogan ‘Spain is different’ was coined as the longrunning slogan of a Spanish tourist campaign started in the 1940s to attract foreign holiday makers. I’m sure lots of people wondered who or what, exactly, Spain was comparing itself to; the rest of Europe, the rest of the world, or even itself? Whatever the comparison, it was the stuff of bullfighting, flamenco and sombreros. For better or for worse, this imagery is now etched in the minds of many a Brit.
different
Whatever your view of the stereotypes, there is no doubt that the campaign worked. Millions of us have spent our summer holidays there and lots of us now own property there too - some research suggests up to 600,000. And if we don’t own a Spanish property, we’ve probably got some friends and family who do. Because so many of us have bought a Spanish property over the last few decades, more and more of us are experiencing bereavement, family breakdown and financial difficulties involving Spanish assets. I have the great pleasure (and occasional pain) in dealing with Spain on a day to day basis on behalf of clients with property and property related interests. Believe me, when trying to get things done, Spain is, in so many ways, different. So, if you’ve heard from a close relative that long lost Uncle David may have left you a share of his Andalusian finca, how do you go about securing your legacy and just how different can you expect things to be when doing it? value. In Spain you have to find the money to cover the bill because it’s you (as the person inheriting) rather than the estate that gets taxed. What if you haven’t got the cash available to cover the tax bill? Can you wait to sell the property and then pay the tax with the proceeds? If you can find a buyer, then yes. It’s easier in a buoyant property market and that’s what lots of people did during the boom years. It’s not so easy nowadays, but there are ways to ease the pain.
The legal process in Spain is different
That’s probably not going to come as too much of a surprise. But if you’ve tried doing it yourself, then you’ve probably realised that despite Uncle David’s generosity you wonder if he knew just how many hoops of fire and barbed wire fences you have to jump through to secure your share of his legacy. ‘Normal’ translations or ‘sworn’ translations? Certificates from Madrid? Hague Apostilles? Copy documents or original documents? Spanish Notaries or English Notaries? Both? No matter how good your Spanish is, it’s enough to make a layman’s head spin, and can often challenge even the most seasoned of professionals. So if any of this is sounding remarkably familiar, what should you do? Call ‘Uncle Dennis’ for a no obligation chat. By Dennis Phillips
The way they tax you in Spain is different
The first shock to many clients when they first approach me is that it’s likely they’re going to have to stump up hard cash to cover a Spanish inheritance tax bill. In England, the estate gets taxed first before you receive your share. And it only gets taxed if it’s over a certain
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