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Yes. An NIE number will be used to pay inheritance taxes by the beneficiaries in Spain.
If they cannot come to Spain to apply for an NIE number, then an NIE number can be applied for on their behalf using a power of attorney.
Whilst it is recommended that the beneficiaries of your will come to Spain to deal with the estate, it is not strictly necessary.
A lawyer in Spain can act on the beneficiary’s behalf using a power of attorney which can be signed in the beneficiary’s home country.
The simple answer to this question is that you will pay inheritance taxes wherever your assets are located.
So for example if you live in Spain, own a property there and have no assets outside of Spain, the beneficiaries of your will shall be obliged to pay inheritance tax in Spain on their share of the value of the property that they inherit.
In order to deal with an acceptance of inheritance in Spain, it is necessary to calculate the value of the assets upon which inheritance tax must be paid.
Accounts and property are the most common assets held by expatriates in Spain. With regard to accounts, the necessary certificates must be obtained from banks and building societies confirming the value of any accounts at the date of death.
If there is a Spanish property in the estate, it is also necessary to obtain a copy of the escritura and the latest town hall rates known as IBI. Once the value of the property and the amount of money held at the date of death are ascertained, the value of the estate is calculated.
Following the deduction of funeral expenses and any other debts, the resulting figure is the taxable value of the estate.
If you have assets in Spain it is advisable to have a Spanish will. If you do not have a will and if you have no relatives, your assets will revert to the British Government.
If you do have relatives, the absence of a Spanish will incurs delay and extra cost, which can be avoided if you have a Spanish will.
To save time and money and ensure your assets are left to a relative, friend or charity, the easiest way to achieve this is by signing a Spanish will.
If you are a resident in Spain for more than six months a year there is an obligation on you to present a Spanish tax return between May & June in the year subsequent to you becoming a Spanish resident.
Even if you have very little income or your income is taxed in your home country, there is still an obligation for you as a Spanish resident to present a Spanish tax return even if this is a nil return!