The situation in Andalucía
Spouses, parents and children are now exempt from inheritance tax on estates of less than €1 million.
However, inheritance tax will apply in cases of beneficiaries who are not immediate next of kin, with the full liability payable in cases where there is no spousal or blood relation.
The new law means that around 95% of beneficiaries in Andalucía will be exempt from inheritance tax. The law change is likely to affect thousands of expats.
The situation in Murcia
Laws that came into effect on 1st January 2018 have reduced the succession tax burden for most families, including many expats and mean that immediate family members can receive estates largely tax-free, with children, spouses and parents liable for only 1% of a succession tax bill. Gifts will also attract just 1% liability; as long as a “documento public” has been signed and the origin of any cash gifts has been verified.
Murcia’s regional government says that around 15,000 taxpayers will benefit, saving a total of around €75 million.
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This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
A move from the UK to the 
Originally launched by the UK Government as the Post Office Savings Bank in 1861, the NS&I provided the opportunity for both the public to save and as the government to fund the deficit. To encourage post war saving in 1956, Premium Savings Bonds were introduced – but not without some political and religious opposition. Despite the resistance, NS&I has since evolved into one the largest savings organisations in the UK and has approximately 25 million customers and more than £179 billion invested.