The COVID-19 lockdown has prompted many to look for ways of using their extra spare time as productively as possible. For some, this includes reviewing their financial plan. We should always keep a close eye on our finances. It’s even more critical now that the fiscal effects of the COVID-19 crisis become apparent. Stock markets […]
Divorce and pension sharing
It’s an unfortunate fact of modern life that many marriages end in separation. Resolving issues relating to divorce and pension sharing is an essential part of any settlement. Even in the most amicable of cases, financial problems tend to focus the mind. Negotiations can become fraught if either side suspects the other of trying to […]
Inheritance Tax Planning and Double Tax Treaties
Inheritance tax planning is a complicated issue that requires careful attention. Under current legislation, UK Inheritance Tax is levied on estates valued at over £325,000 at a rate of 40%. It is little wonder that around £5.4 billion in revenue was collected in 2018/19 by HMRC! If you are an expat, inheritance tax could apply […]
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 […]
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 […]
Non resident tax Spain
Exposure to non resident tax in Spain can be a concern to anyone owning property there. Many people separate their time between their property in the Costas and their home country. And why not? Who wouldn’t want to ‘escape to the sun’ in the long, cold days of winter! Many also think that they are […]
The French will
It is vitally important to write a French will if you live in France. French inheritance rules are relatively complex. Understanding how they work and what can be done to mitigate tax requires the input of various professional parties. When someone dies without a will, the estate of the deceased is distributed in accordance with the rules of intestacy […]
Spanish inheritance tax
Spanish inheritance tax along with general tax legislation falls under the banner of Napoleonic law. Succession and gift tax, Impuesto sobre Sucesiones y Donaciones (ISD), apply to beneficiaries of gifts and inheritances for Spanish tax residents. ‘Forced heirship’ rules determine how you can divide an estate and what rate of tax applies to recipients. There […]
Domicile and inheritance tax
There are few ‘famous’ legal cases regarding domicile and inheritance tax, but when a celebrity is involved the media will often pick up on it and create newsworthy stories. One such case is that of Richard Burton, the silver screen celebrity of the 50s, 60s and 70s. His oft reported stormy relationship with the equally […]
Double Taxation Treaties and Overseas Pension Transfers
Double Taxation Treaties (DTTs) are legal mechanisms between countries which ensure individuals and companies do not pay tax twice on the same trade, asset or income in both the country of source and that of residence. As such, if a British person who is tax resident in Spain holds assets in the UK, the DTT […]