Premier offers Spanish IHT mitigation

Isle of Man-based fund manager The Premier Group has launched an IHT mitigation scheme aimed at Britons with Spanish properties. Spanish IHT taxes the value of property received by each heir and transfers between spouses are not exempt from this, unlike the UK. Upon death, the beneficiaries of all owners of Spanish property, including homeowners resident in the UK, would be liable for Spanish IHT. Presently, the individual allowance only accounts for e15,957, around £11,000. However, if there is a loan against the property, the amount eligible for IHT in Spain is the value of the propert...