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Where Taxpayers and Advisers Meet
Legacy from Germany
-
MatthewJames
- Posts:1
- Joined:Wed Feb 24, 2021 8:12 am
My elderly mother (Uk citizen) has received a legacy of 90,000 euros from my late fathers cousin in Germany. We have now received a document to fill in and return to the tax authorities in Germany. Is she obliged to do this and is there a likelihood of having to pay inheritance tax in Germany on the legacy?
Re: Legacy from Germany
If Germany has the same system as the UK, Execs will account for tax before paying legacy.
With a pinch of salt take what I say, but don't exceed your RDA
Re: Legacy from Germany
I suspect she may have a liability as, under the German system, the heirs pay the tax. There's a chance of a small liability but I doubt anybody on here will know the true position.
Re: Legacy from Germany
As AG indicates probably not the best forum to deal with your query.
Normally the heirs are liable for any "inheritance tax" with the amount depending upon the relationship between the deceased and the person inheriting (different from the UKJ's approach).
Normally part of any inheritance will be exempt from tax (the closer the relationship the greater the exempt amount) although given the relationship mentioned some tax liability I suspect is likely. I believe the appropriate tax rate is 30%.
Normally a filing must be made where the German tax office requires one to be made.
To avoid any "aggro" I think I would be inclined to complete the form and return it.
Strictly you should take German advice.
Normally the heirs are liable for any "inheritance tax" with the amount depending upon the relationship between the deceased and the person inheriting (different from the UKJ's approach).
Normally part of any inheritance will be exempt from tax (the closer the relationship the greater the exempt amount) although given the relationship mentioned some tax liability I suspect is likely. I believe the appropriate tax rate is 30%.
Normally a filing must be made where the German tax office requires one to be made.
To avoid any "aggro" I think I would be inclined to complete the form and return it.
Strictly you should take German advice.
Return to “Inheritance Tax, IHT, Trusts & Estates, Capital Taxes”