Dutch national living in UK, to own (inherit) assets in Belgium

Member since 06 December 2024

Stefan3Member06 December 2024 14:10:51

Any insights regarding the following scenario and questions would be very much appreciated! Here goes ... I'm a Dutch national, resident in UK (Scotland). At some point in the future - hopefully many years away - I am likely to inherit assets from my mother who is a Belgian national, resident in Belgium. This would comprise real estate (house) and a sum of money. We're talking about relatively modest amounts in each case.

a) Can I become the house owner and simply keep the house? (what about things like utility bills - phone, energy, etc.?)

b) Can I open a bank account in my name, even though I'm not resident in Belgium?

c) In the case (a) and/or (b) are "yes", what are the costs to consider (taxes)?

d) If assets (proceeds of selling house & bank balances) can not be kept in Belgium, how can they be transferred to UK in the most tax efficient manner?

I've spent some time searching and already know that "seek specialist advice" (at a cost) is recommended but even there I'm finding it tricky! A Belgian notary tells me she can't give any advice on the UK side of things, and a UK solicitor tells me I need to talk to legal experts in Belgium. ?!?

Many thanks for any helpful pointers/tips!

Thanks,

Stefan

Cynic UK / Netherlands Expert

Member since 15 September 2015

CynicUK / Netherlands Expert07 December 2024 13:13:59

7780

Hi and welcome to the Forum.

First off, I'm not a tax expert, my advice in these matters is to always speak to a tax expert; yes, you pay for the service but in complicated situations, it's worth having the peace of mind.

For what they are worth, my thoughts are that in general, where you are assessed for any taxes depends on your country of residence; you live in the UK, then HMRC will be the governmental body who undertake this matter. As residents in the UK, then you have to complete forms IHT400 and IHT401 and submit them to HMRC in the UK who will then help themselves to all your money (joke); your nationality is largely irrelevant in this matter, my wife is a Dutch citizen who lives in the UK, she has a brother who still lives in Holland and a sister who lives just over the border in Germany, when their father died recently (in the Netherlands), to simplify matters, everything was left to her sister who sorted out the taxes with the Belastingdienst, and they then shared what was left between the 3 of them.

To answer your specific questions:

a - I would be surprised if anybody would object to you inheriting/owning your mother's property. You would of course be liable for any ongoing local taxes due and, if in your name, for any charges for utilities and phone etc.
b - You may have problems; not all banks offer this service. One option may be if you have a BSN from Holland (hint - it's printed in your Dutch passport), then go to the Gemeente where you lived and deregistered when you left and ask them to make your account live again, then move your registration to the RNI database. My wife has kept an account with the RABO by doing this. If you have no Belgium residency history, then this may be impossible to do there
c - In the UK this is classed as a Capital Gains tax, rates currently vary between 10% and 28%, No idea how much the Dutch or Belgians charge - my advice is to speak to a tax expert.
d - Ask your bank this hypothetical question.

Contact for a UK/?Belgium tax expert (link); I have no idea if they are good, bad or indifferent, they were the first of many I came up with from a quick Google search, my point is they do exist.

As in all things, watch out for scammers.

I hope this helps.

Cynic

Expat Team

oh, en, groetjes van uit North Yorkshire