One of the first things that a person should do when they receive an inheritance is to get up-to-date quickly on the taxes they are subject to, the so-called inheritance and donation taxes , since on the contrary they can take an unpleasant surprise when they receive it. . If you are going to receive an inheritance immediately and do not have economic solvency to deal with these taxes, we want you to know that there are so-called inheritance payday loans , which are one of the solutions for not having to renounce it.
Before going into detail about inheritance payday loans , let’s get up to date on inheritance and donation taxes.
Inheritance tax and donations
f The Inheritance and Donations Tax refers to the direct tax that is levied on the increase in assets from the good received by an inheritance or by a donation. Depending on the type of property received as an inheritance or as a donation, one tax or another will be applied, but it must be taken into account that all the goods received will be paid.
In Spain the Inheritance and Donations Tax is regulated by Law 29/1987, of December 18 by Royal Decree 1629/1991, of November 8, which approves the Regulation of Inheritance and Donations Tax, but the Direct competition or delegation of application of taxes belongs to the Autonomous Communities .
How is inheritance and gift tax calculated?
This calculation is offered by the legislation itself, but as we have mentioned before, the rate that is applied depends on each Autonomous Community, it is not the same to calculate the Tax that implies an inheritance in Catalonia than in Asturias or in the Valencian Community. The Autonomous Communities have the direct competence to modify and apply the reductions and the types established by the State in a subsidiary manner.
However, in order to calculate what we are really going to pay as taxes by inheritance, we must know the tax base of everything we are going to receive, whether by inheritance, insurance or donation, that is, knowing the real value of all the goods. Next, we need to know the deductions we can apply to that base to try to reduce them as much as possible, these depend on the Autonomous Community where the deceased person lived and can be:
- Some debts that the deceased person had , also the tax debts.
- All the expenses corresponding to the testamentary act .
- Expenses generated at the last moment , for example those derived from burial, funeral or illness.
We insist: the taxable base of the tax is obtained by subtracting the tax base from the state and autonomous reductions.
- As for the general reductions, there are those derived from the degree of kinship of the deceased person, those derived by degrees of disability (according to percentage of disability), those derived from life insurance (according to degree of kinship as well), reductions by transmission of company or professional business , those of duplication of successions and reductions by habitual residence.
payday loans for inheritances
When a person receives an inheritance or a donation must be prepared financially to be able to meet the payment of taxes that this succession entails, but not always, especially when such inheritance or donation is received in a somewhat unforeseen or immediate or for remaining on the ASNEF list of defaulters.
In addition to other inconveniences that are added to the previous ones are the payment terms of these taxes that are quite short and that if you do not meet them, they increase the total amount of the taxes considerably.
Before applying for a payday loan for inheritances we need to know the total amount that we will have to pay for the inheritance or donation received. The best solution, if we do not have money or immediate liquidity to face these payments or if we are in ASNEF is to request a quick payday loan to a private financial institution since their conditions of concession and their return requirements are very reasonable and can take out of this situation to be able to receive with ease that inheritance or donation.
We are going to put a clear example of the expenses that we could pay according to the Autonomous Community in which the deceased lives derived from an inheritance , to know, more or less, that we know what amount of tax we will have to pay and if not We have to type payday loan or quick credit we will have to apply.
Ex .: If we inherit a real estate, a home for example, valued and assessed at 100,000 euros in Asturias (one of the Autonomous Communities with the highest types of inheritance taxes in Spain) we will have to pay around 3,250 euros of taxes .
Well if we do not have this amount of money immediately we can ask for a quick credit for example to:
Other options to pay taxes derived from inheritances or donations
On the other hand, if we can not meet the payment of these payday loans for inheritance we can also request an extension of payment , which is an increase of about six months to meet the payment of taxes.
We can also request some payday loans with mortgage guarantee. This payday loan gives us the opportunity to endorse with our habitual residence, this way they will grant us the money that we need to pay the debt and not have to renounce the inheritance or donation.
As we have been able to verify, receiving an inheritance or a donation may entail certain expenses that we did not have, but as we have also known there are options to cover that immediate money that we need and the best option is the payday loans for inheritances .