Financial markets are suffering due to the Covid-19 virus. These are very worrying times for people all over the world from a personal perspective and also in terms of the impact on our financial planning strategy. The value of a flexible and robust financial plan has never been more important than now. Whilst few will […]
British in France Seek Expat Pension Advice on Brexit
Understanding the full ramifications of Brexit is likely to be impossible for some time to come. Many people need guidance on their tax situation and also expat pension advice. The British in France can attend meetings and receive valuable guidance from the Embassy regarding a whole host of post-Brexit concerns. A series of meetings have […]
The Modelo 720 declaration
It’s March, and time for expats to complete the Modelo 720 declaration once again. This form has to be submitted before the end of the month by Spanish tax residents. The Modelo 720 declaration is more of an asset reporting requirement than a tax return. Assets which have to be declared include properties, bank accounts […]
QROPS advice: One size doesn’t fit all
Changes to Malta regulations regarding UK pension transfers have been introduced to improve the quality of QROPS advice. The aim is to protect customers by ensuring their financial adviser is suitably qualified to advise on investments. Whilst many of the measures are welcome, there are also unintended consequences to the changes. These can have a […]
The perils of Defined Benefit pension transfers for expats
Decisions regarding Defined Benefit pension transfers for Expats should not be taken lightly. Such transfers are certainly not something that should ever be ‘sold’ or promoted as a ‘no-brainer’ by financial advisers. There are many details to understand and procedures to complete before committing to, and authorising, the transfer of what are often significant sums […]
QROPS or iSIPP
One of the issues faced by expats wishing to transfer their UK pension plans is whether to move to a QROPS or iSIPP (International Self Invested Personal Pension). The answer as to which choice is best may change depending on how pension legislation evolves in the wake of the upcoming UK and EU trade negotiations. […]
Investment regulation changes post-Brexit for expats
There will inevitably be investment regulation changes post-Brexit. The rules on how expats purchase investment funds and who they can be advised by are set to alter. UK pension providers are already preparing for the post-Brexit world by making it difficult (or even impossible) for their expat clients to continue to receive benefits or contribute […]
Placing a bet on Brexit
For the last 3 months, it looked and sounded like the Prime Minister had placed a bet on Brexit happening. It was always inevitable though that the latest Brexit deadline of the 31st October would be missed. The PM had maintained a ‘positive spin’ throughout on the prospect of the country leaving the EU; in […]
Financial planning and Brexit
There are many issues surrounding financial planning and Brexit that expats should be aware of. I’m going to make a bold prediction though. Life will go on even if the UK decides to leave Europe! I don’t say this glibly. History shows that every time major political and economic events rock our world, we can […]
Brexit and EU residency
British expatriates are waiting for some sense of direction when it comes to the question of Brexit and EU residency. Following the UK general election, we now have a little more clarity regarding Brexit. Theoretically, the UK could still leave on what has been termed a ‘hard’ basis. The new PM has promised to conclude […]
Spanish residency requirements post-Brexit
There is a lot of uncertainty surrounding Spanish residency requirements for British expats in Spain. With only weeks to go until the so-called “do or die” Brexit promised by Prime Minister Boris Johnson, the question of Spanish residency is still as clear as mud. There are actions we can take to protect ourselves from a […]
The Spanish will
Where there’s a Spanish will, there’s a way to reduce inheritance taxes on your estate in Spain. “In this world, nothing can be said to be certain, except death and taxes”, so wrote Benjamin Franklin in 1789. These two events are often mutually exclusive. We pay our tax every year, but we only die once. […]
Malta QROPS
Significant changes to the Malta QROPS rules regarding investment management came into force on January 1st 2019. Malta QROPS providers are now legally required to ensure financial advisers are correctly regulated according to MiFID 2 (Markets in Financial Instruments Directive) rules. Providers were given 6 months leeway to work with advisers who were in […]
Spanish pensions for expats
Spanish pensions for expats are a rare commodity. It’s not just a question of the number of available products in the marketplace. It is also one of suitability in terms of the needs of those retired or currently working in Spain. This blog will examine some of the challenges that expats in Spain face when […]
Taxes for expats
Taxes for expats in Spain are levied on anyone who spends more than 183 days per year there. Many people manage their affairs in such a way that they maintain tax residence in their home country by ensuring that the 183 day limit is not breached. Some keep their fingers crossed, hoping the spotlight does […]