If you are going to receive an inheritance property, surely you wonder when the municipal capital gains prescribe.

  • This is the deadline you have to catch up with your taxes.
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  • Receiving an inheritance can be more problematic than you think. Although the goods to receive will help you increase your wealth, you should also think about paying taxes.

As an heir you have to face the Inheritance and Donation Tax. This tax is managed by the autonomous communities. Each one establishes the rate to be paid according to the circumstances of the will and the heirs.

Sometimes this tribute can be higher than desired, and this is what leads many people to reject their inheritance.

In some inheritances, another tax must also be added: the municipal capital gain if you are going to receive real estate.

If you find yourself in this situation, you may be wondering when the municipal capital gains tax expires. In this way, you may save money on taxes.

When does the municipal capital gain prescribe?

This tax prescribes 4 years and 6 months after the death of the testator. Of course, for this you must not have received any official notice from the town hall, as warned by 65ymás.

Differences between receiving a legacy and an inheritance: legal aspects that you should know in each case

This notification is the document that shows the percentage to be paid and the deadlines to do so, so you should be attentive to its arrival.

If you receive the notification and do not pay, you will face a penalty. It is useless for you to prescribe the tax in that case.

Of course, there are circumstances in which the term is interrupted for some legal reason. For example, if the heir has imposed a claim or if the Treasury wants to carry out some inspections.

When do you have to pay the capital gains on an inheritance?

Another relevant aspect is knowing how much time you have to pay the municipal capital gains if you have inherited real estate. This way you get rid of being fined.

The term to pay the capital gain is 6 months from the death of the testator. Once this time has elapsed, you will face a fine from the city council.

The penalties can be up to 150% of the amount you had to pay in the municipal capital gains. That is why it is worth paying attention to the deadlines and not taking unnecessary risks.

There is another situation to take into account: that you pay after the deadline but before receiving the notification of the fine. In this case, the penalties are as follows:

  • You pay in the first 3 months after the end of the term: the surcharge is 5%.
  • You pay between 3 and 6 months after the end of the term: the surcharge is 10%.
  • You pay between 6 and 12 months after the end of the term: the surcharge is 15%.
  • You pay more than 12 months after the end of the term: the surcharge is 20%.

As soon as the fine notification arrives at your address, you can no longer take advantage of this last option and you will have to pay a surcharge of at least 50%.

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