Inheritance Tax

Inheritance tax
Finance and taxation is a difficult matter for many individuals, while there are so many opportunities. It goes without saying that you do not file an incorrect tax declaration, apply prohibited tax constructions or keep a sloppy administration. When you delve into tax matters, or receive expert tax advice on tax regulations and laws, there are important benefits to be gained and you are protected against sanctions, fines, legal proceedings and the like.

Private individuals sometimes need specialist knowledge, for example for calculating taxes, clarity in the tax consequences of gift, inheritance or divorce, making real estate financially transparent, and the like. AGA Fiscalisten has the expertise and experience to fully clarify complex financial issues. Our reliable expert tax specialists, who all have years of experience, see every opportunity. All our tax specialists have years of experience and the mr. title.

Inheritance and inheritance tax: the inheritance law
The inheritance law has two types of taxes. The inheritance tax and gift tax. A tax declaration must be filed for both taxes. For example from an inheritance. The tax authorities levy inheritance tax on the value of everything obtained by inheritance law by the persons concerned who receive the inheritance.

Inheritance tax: Will and self-chosen heirs
Without a will, you have no choices. With a will you are free to choose customization such as appointing self-chosen heirs and with chosen inheritances.

Inheritance tax: Inheritance
When it has been determined who the heirs are and who are therefore entitled to the inheritance, it must be determined exactly what it entails. The value of the estate is the value of all assets minus all debts at the time of death. You can arrange the distribution of the estate yourself, but it is advisable to have an expert assist you in this. Especially if you have accepted the estate beneficially and it turns out that there are more debts than assets. Strict regulations apply whereby in case of violation, the heir can become responsible for the debts of the deceased. 

Inheritance and inheritance tax: exemption
Up to certain amounts there are exemptions for inheritance tax. Above this limit, inheritance tax must be paid. The maximum amounts for exemption are:

• Spouse, cohabiting partner or registered partner: € 723,526
• Children and grandchildren (also foster and stepchildren): € 22,918
• Great-grandchildren and other heirs (e.g. sibling): € 2,418
• Parents: € 54.270

Inheritance law: What is the value of the inheritance?
A deceased person leaves an estate consisting of assets and debts. Inheritance tax must be paid on the amount of the assets minus the debts. For the monetary amounts, it is usually not very difficult to determine them. A home and contents are more difficult to determine.

Inheritance and inheritance law: calculating the value of the contents
Many people think that the insured value of the contents is the value of the contents that must be filled in with the tax declaration. When reporting the insured value to the tax authorities, an heir will then receive an excessive tax assessment. The insurance value is the value of the contents if these contents were purchased new. For inheritance tax, it is wiser to calculate the economic value of the household effects. The economic value is what a highest bidder would pay secondhand for the contents. Unless it concerns pieces of value such as antiques, expensive paintings, jewelry, art, and the like, the economic value of a household goods is often low.     

Inheritance and inheritance law: estimating the value of a home.
The WOZ value stated in the WOZ decision of the year of death or the year after the death is the correct value of the home for the tax authorities. You can choose the lowest WOZ value from these two years. Heirs may request a WOZ decision for the year of and before the death. Heirs may object to this WOZ decision.

How long do I have to file the inheritance tax declaration?
The inheritance tax declaration must be submitted within 8 months of the death. It sometimes happens that not all amounts have been calculated or that there is another reason that an inheritance tax declaration cannot be submitted within 8 months. Postponement can then be requested. It is wiser to apply for a provisional assessment from the tax authorities. In the case of a provisional assessment, there is no tax interest and in the event of a deferral, this tax interest is there.  

Rates inheritance tax 2023:
 When determining the rate that must be paid in inheritance tax, the amount of the amount and what relationship you have with the person who has died is taken into account. Different percentages apply to this.

Inheritance up to € 138,641:

• Children (including foster and stepchildren) : 10 %
• Grandchildren: 18 %
• Other heirs such as brothers, cousins, etc.: 30 %

Inheritance from € 138,642:

• Children (including foster and stepchildren) : 20 %
• Grandchildren: 36 %
• Other heirs such as brothers, cousins etc: 40 %

In the event that you have a tax partner and that you both receive an inheritance from the same estate, the tax authorities see this as one inheritance received and this is added together to determine the rate to be paid.

Questions from private individuals about inheritance tax
The following questions that we regularly receive from private individuals

• Can I leave my company tax-friendly?
• Which will is best for me?
• How do I let an heir inherit without inheritance tax in the event of a bequest?
• What do I have to think about when I inherit a home for sale?
• How do I determine the value of the inheritance?
• Do I have to file an inheritance tax declaration?
• When do I have to file an inheritance tax declaration?
• What if I don't file an inheritance tax declaration or too late?
• What if I inherit a company?
• What if I inherit an inheritance from abroad?

Our tax specialists are asked many other tax questions and issues than the above. You can also submit all these questions to us. We provide clarity and solve your tax issue or question.

Why financial advice from AGA Fiscalisten?
AGA Fiscalisten stands for high-quality expert tax advice. All our tax specialists are senior tax specialists, have years of tax experience, and have graduated from the university in tax law and hold the title "mr.".

A (senior) tax specialist specializes in tax law while a tax advisor has only completed tax courses. A tax advisor has much less knowledge than a tax specialist and often makes mistakes with potentially significant financial consequences. It is wise not to settle for a non-qualified tax advisor, but to engage an expert senior tax specialist. This way you avoid problems, fines or procedures and you do not miss out on tax benefits due to advice that is not sufficiently expert.

High quality tax specialist; Master title mr. and years of experience
All our tax specialists have years of tax experience and the "mr." title. The most recent developments and changes concerning taxation and all relevant legislation is studied and discussed by our tax specialists. This gives us the opportunity to clarify all the problems and issues about taxation. We achieve the best possible result for our customers. Tax advice, tax declarations, financial advice, legal advice or discussion partner, AGA Fiscalisten will arrange it for you!

Contact AGA Fiscalisten
The tax specialists of AGA Fiscalisten can do a lot for you, from an answer or advice to your tax questions to guidance throughout the entire process. If you have any questions or issues and would like high-quality tax advice, please contact one of our expert experienced tax specialists for an intake interview free of charge and without obligation.

NEED TAX ADVICE? Call: 040-8489888 1st free and non-binding intake interview. Available by phone: Monday to Friday between 09.00h and 20.00h) We can also be reached by e-mail: info@agafiscalisten.nl or via the contact form on the right side of our website.

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