In accordance with the provisions of the response to binding consultation V1697-23, a resident in the United Kingdom who owns shares or social interests in a non-resident entity in Spain through which he or she participates in entities with properties located in Spanish territory, always and when these constitute, indirectly, at least 50% of the value of the assets of this entity, it will be considered a taxpayer of the Wealth Tax and the Temporary Solidarity Tax of Great Fortunes due to real obligation for the shares of which be direct owner. The tax base of both taxes will be determined in accordance with the provisions of article 16 LIP, and it must be the entity whose participation the consultant holds directly that must be subject to valuation.
On the contrary, we should understand that, if the value of the asset in the entity is not represented by more than 50% by participations in entities with real estate in Spain, you will not have to declare your participation in the aforementioned non-resident entity for the purposes of the Tax. about Heritage.
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