Inheritance tax and gift tax on inheritances and gifting
If you receive an inheritance or give a gift, you must file a tax return. Tax will also be payable in some cases.
If you inherit money, property or possessions or give a gift, it’s always advisable to seek expert advice. Because the exceptional taxes apply in these situations, it’s a good idea to decide on a strategy beforehand, so that you can make the proper legal and tax arrangements. Questions? Ask our expert team, we’d be glad to advise.
Inheritance and inheritance tax
When someone dies, their estate is divided between the heirs and/or legatees. An inheritance is the total of a person’s possessions, minus the debts of the deceased. If the total of the inheritance amounts to more than the exemption, you need to pay inheritance tax. The amount you will pay depends on your relationship to the deceased and the content of the will.
What happens if I’ve have inherited a company and plan to continue it? In this case, you will pay less inheritance tax, or none at all. If you need advice, we’re here to help.
Gifts and gift tax
If you would like to give someone money or goods, the recipient may be required to pay gift tax. Gifts can be given tax free if they are below the tax threshold. The amount of the tax exemption is determined by your relationship to the giver.
The giver can decide to pay the gift tax instead of the recipient. In that case, the giver pays more tax than the recipient would have done. There are a variety of rules and exceptions in relation to gift tax. Need advice? We’re happy to help.
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NAHV Belastingadviseurs is the finance and accountancy firm where you can ask the questions you never dared to ask. We specialise in tax and administrative solutions, and financial advice for (creative) entrepreneurs. We have over 3,500 regular clients ranging from artists, TV personalities, to journalists, architects and many other professionals and companies in the creative and cultural sector, as well as lawyers, independent contractors in the construction sector, physiotherapists and countless other professions. Whether you’re a freelancer or self-employed professional, director and major shareholder of a private limited company or a general partnership, we help everyone.
Our office has served Amsterdam and the surrounding area for 25 years. We have in-house experts, work as a team, take a proactive approach, and can keep the costs manageable.
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Want to know more about inheritance tax, gift tax, or gifts and inheritances in general? Or do you have other financial matters that we can help you with? Get in touch by email or phone. And we’ll help you right away.