On May 20th, UHY Fay & Co, in collaboration with Banca March, held a seminar titled “Family Business Taxation in the Current Context” at the Óbal Hotel in Marbella. The event focused on wealth planning and the fiscal challenges facing family businesses in the current regulatory environment.
The event featured opening remarks from Bernard Fay, Managing Partner of UHY Fay & Co; Gabriel Echarri, Director of the Private Banking Unit at Banca March; and Juan Moya, President of the AAEF (Andalusian Family Business Association).
Navigating an Increasingly Demanding Tax Context
Inmaculada Domecq, Head of Tax & Legal and Partner at UHY Fay & Co, led the technical session. She addressed the current pressure of regulatory requirements on family businesses, including the projects to harmonize Inheritance and Gift Taxes across autonomous regions, the increased tax control over non-productive assets and large fortunes, and the new developments introduced by the Andalusian Family Business Law.
Domecq focused on the synergy between the three key taxes for wealth planning—Wealth Tax, Inheritance and Gift Tax, and Personal Income Tax (IRPF)—and on the requirements to access and maintain exemptions and reductions applicable to family businesses. She also highlighted the aspects most frequently reviewed by the Tax Agency: the asset status of companies, actual executive functions and their remuneration, and the valuation of assets related to business activity.
The presentation also included a review of the most commonly used planning structures—holdings, double holdings, venture capital firms (SCR), and SOCIMIs—and their tax advantages and implications, as well as practical recommendations for family businesses to anticipate tax inspections, with special attention to justifying executive functions, managing surplus treasury, and documenting intercompany operations.
Markets and Investment, from the Banca March Perspective
Following this, Gabriel Echarri and Inés López, Territorial Manager for the Peninsula of Private Banking at Banca March, shared their analysis of the current financial market situation and the main investment ideas of the moment.
The session concluded with a Q&A period and networking time for attendees. Through these meetings, UHY Fay & Co reaffirms its commitment to supporting family businesses in the fiscal and wealth planning necessary to protect their business and prepare for generational transmission in an ever-changing regulatory environment.
