The deceptive viral advice on how to avoid inheritance tax
Inheritance tax must be paid when accepting an inheritance. And although the amount may vary depending on the autonomous community of residence of the deceased, in general, the more valuable the inherited asset is, the higher the tax. For this reason, Sometimes people look for tricks to know how to avoid inheritance tax, content that can be found on networks like Instagram. But you have to be very careful with this type of advice., because they do not usually address the consequences of those “shortcuts” legal.
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Trust: a solution or a triple problem?
One of the alternatives that Instagrammers sometimes propose is to avoid inheritance tax through a trust., that is to say, assigning someone the power to administer the inheritance for the benefit of a third party (the true beneficiary). But only until a condition or term determined.
But what happens with this legal figure is that it is unfavorable for the heir's son, because the tax falls on the next generation (therefore, the grandson of the deceased). Nevertheless, that's not all, because there is additional harm to the latter: The tax burden you will have to assume will be greater when you finally receive the estate, since you will be taxed for the entire accumulated.
And as a third handicap, We must not forget that trusts entail high incorporation and administration costs.
For all these reasons, from Bufete Vidal & Sánchez, as inheriting lawyers in Sabadell y inheritance lawyers in Badalona, we strongly advise you to don't follow this type of viral advice on how to avoid inheritance tax.
The patrimonial society, a bad plan for the future
Establishing a patrimonial company is another of the “tricks” that circulate on Instagram. But this tactic also ends up taking its toll.. First of all, you must know that this kind of society It is created for the purpose of managing and administering an estate. But, What happens if this legal instrument is used to avoid inheritance tax? Let's see it.
Technically, the inheritance becomes a donation or transfer of assets. But both methods They also have their own taxes. On the other hand, If the heirs want to sell the assets in the future, They will have to pay Corporate Tax on the profits obtained, for the so-called capital gain.
In addition, and if we think again of the later generation, if there is not a single heir but several brothers- and finally the property is distributed among several cousins (your children), The situation can be very conflictive if there is no agreement about administration or sale.
Be careful with the Treasury
And the disadvantages continue, because the Tax Agency usually closely monitors the use of patrimonial companies. And if you detect that a company of these characteristics has been established only to take advantage of tax advantages, without any real economic activity behind it, can require that taxes be paid as if the assets or income were in the hands of a natural person, not from society.
inheritance tax: How much can it go up to??
The most sensible, If you have read the previous paragraphs, is to assume what the law says and pay the inheritance tax. To find the quantity, and know what you are facing so you can prepare your resources (Maybe you will be happy thanks to the reductions and deductions that we are going to indicate to you!!) we inform you of how to calculate it roughly:
To calculate inheritance tax, First of all, take the real value of the inherited asset and the loads, debts and deductible expenses. In this way we obtain the so-called hereditary mass.
Next, said mass is distributed among the heirs, which allows determining the tax base of each one. On that basis, the reductions according to the degree of relationship, which in some cases can reach up to a 95 %, For example, when the inheritance corresponds to the habitual residence of the deceased.
Once the reductions have been applied, is calculated the tax rate, which consists of a progressive percentage between the 7,65 % and the 34 %, depending on the value of the inherited asset.
The result obtained is then multiplied by a correction coefficient, which varies according to the pre-existing estate of the heir and your family relationship with the deceased.
Finally, From this operation we obtain the tax fee, that is to say, the amount of tax to pay. Nevertheless, In many autonomous communities there are specific deductions and bonuses which can significantly reduce the final amount to be paid.
If you want Let's calculate the inheritance tax that corresponds to you and carry out all the procedures, can make an appointment with us here. In addition, We recommend that you read another article that may interest you to present to your family., If you are worried about paying inheritance tax when the time comes: las inheritances in life.
For more questions you can contact an inheritance specialist by clicking on the button.