1385 Inheritance Tax

I can't remember which issue, but Italymag did a brilliant article on Inheritance Laws...these are very, very different to UK Inheritance Laws...there is a post on this...definately worth checking out...best bet is to make a UK will regardless of your age !!!!!

I think that Inheritance Tax was abolished last year...or did i dream this ???? Please advise our trusty experts !!!!

[QUOTE=Technically Blonde]Does anyone have any information / web sites about Italian inheritance tax. I know the laws in France are completely different from UK but not sure about Italy.[/QUOTE]

There is no inheritance tax in Italy.
You pay only a 3% tax on the value of your real estate:
2% tassa ipotecaria plus 1% tassa catastale

Can you leave property to non family members? I don't have any children and am not planning any. But would like to leave my Italian holiday pad to my godson in my will, can this be done or must it go to a blood relative or husband/legal partner?

Do I need to get this sorted by an Italian lawyer or can I just make provision to this effect in my English will?

Many thanks maestro! :o)

[QUOTE=notaio;8741]There is no inheritance tax in Italy.

You pay only a 3% tax on the value of your real estate:
2% tassa ipotecaria plus 1% tassa catastale[/QUOTE]

IHT was re-introduced last year as part of legge n.262 3 October 2006.

There is an exemption for transfers to the spouse and child.

The maximum charge is 8%.

There is now a charge to gifts also.

IHT is in addition to the transfer taxes.

This could be a good opprotunity for UK expats in Italy.

Trusts were also added to Italian law but still the rates of taxation could be much lower than those paid in the UK.

For all estates? Or was there a threshold set so only larger estates paid?