Taxes Paid on Inheritance in Murcia

In the Region of Murcia, when receiving an inheritance, it is essential to consider the inheritance tax, as this fiscal obligation affects the heirs and can vary depending on various factors.

In our law firm in Murcia, GVC Abogados (García Valcárcel & Cáceres), we specialise in inheritances and family law, and we provide personalised advice to navigate this process with all legal and fiscal guarantees.

What is the Inheritance Tax?

The Inheritance Tax is a tax that must be paid by individuals who receive an inheritance, legacy, or any other title of succession by transmission mortis causa. This tax is regulated at the state level, but it is the autonomous communities that establish numerous key aspects, such as bonuses, reductions, and tax rates, so the tax burden can vary considerably depending on the residence of the deceased and the heirs.

Particularities of the Inheritance Tax in Murcia

In the Region of Murcia, the regional regulations establish certain reductions and bonuses for the Inheritance Tax, especially in cases of transmission between direct relatives. It is important to analyse each situation in detail, as there are parameters that influence taxation: the degree of kinship, the pre-existing wealth of the heir, and the value of the inherited assets.

Reduction for kinship and primary residence

• There is a 95% reduction on the taxable base (up to a limit of 122,606.47 euros) for acquisitions mortis causa by descendants, ascendants, or spouses, particularly relevant in the inheritance of the deceased's primary residence.

Bonuses on the tax amount

• Murcia has been applying a significant 99% bonus on the tax amount for direct heirs (groups I and II: descendants, adoptees, ascendants, adoptive parents, and spouses) for years. This means that, in practice, the inheritance tax on inheritances between parents and children, or between spouses, is virtually symbolic.
• For collateral relatives (siblings, uncles, nephews) and non-direct family members, the bonus is significantly lower, and the tax burden can increase considerably.

Requirements and deadlines for paying the tax

• The general deadline for submitting and paying the Inheritance Tax in Murcia is six months from the date of death, with the possibility of an extension of another six months if requested within the first five months.
• It is essential to carry out the self-assessment, even when no tax is payable due to bonuses or reductions, to properly document the hereditary transmission before the tax authorities and avoid subsequent penalties.

Key Legal Aspects of Inheritance in Murcia

At GVC Abogados, located at Plaza Fuensanta 3 – 6ºB, in the heart of Murcia, we value the importance of proper succession planning, both to reduce tax burdens and to avoid conflicts among heirs. Consulting specialists in succession law allows for the optimization of the process and ensures the correct reception of the inheritance.

Other Taxes to Consider

• In some cases, municipal capital gains tax (Impuesto sobre el Incremento de Valor de los Terrenos de Naturaleza Urbana), if urban real estate is inherited.
• Capital gains tax will only arise if the heir decides to sell the received assets.

Do You Need Legal Advice on Inheritance or Successions?

If you are looking for expert inheritance lawyers in Murcia, at GVC Abogados we assist you from the initial feasibility analysis, through tax management, to the notarial allocation and registration of assets. Our multidisciplinary team provides personalized attention to each succession process, with the expertise and trust that decades of experience in inheritance law, family law, and succession taxation give us.

Contact us to resolve any questions about the inheritance tax in Murcia, process an inheritance, or plan family succession. Your legal peace of mind is our top priority.