hi, i have posted this question in legal group then found this group which is probably more suitable. i'm trying to calculate the amount of inheritance tax i am liable for on a property worth €50.000 left to me by my mother in sicily, the rates are available from internet but what i can't work out is if there is a threshhold amount before rates apply simililar to this country. it would be very helpful if someone could give me a rough idea of how much iheritance tax i should have to pay on this property. also, the above is a catastal value which i understand differs from the sale value - is inhertance tax calculated on catastal value or selling value? thanks
In reply to A newbie all over again! by Annec
http://www.smithgcb.demon.co.uk/pp_inher.htm According to this link, Inheritance tax only applies to larger amounts than the value of you mother's house, and you would only pay the property transfer fees (Imposta Ipotecaria at 2%, and Imposta Catastale at 1%) Rosietat
