Spanish law stipulates that any taxes due on an inheritance must be paid within six months of the date registered on the death certificate. If this is not complied with then penalties are charged and interest begins to accrue. The surcharges applied are as follows:
- 3 months after the deadline: 5% surcharge
- 6 months after the deadline: 10% surcharge
- 12 months after the deadline: 15% surcharge
- Over 12 months since the deadline: 20% surcharge.
In the first three scenarios, the surcharge is a percentage of the amount payable alone. In the last scenario where 12 months have elapsed since the deadline, interest also becomes payable, currently at a rate of 4.75%.
You would obviously be well advised to act quickly enough to avoid the surcharges and fines becoming payable.