The best SIPP for EU residents is an International SIPP. Sometimes referred to as a ‘non-resident SIPP’, it can be a useful retirement planning tool for expatriates. Many of us live, work or retire in an EU country and have a long ‘to-do list’ that needs ticking off before we can settle into everyday life. […]
The truth about pension fees and charges
New disclosure regulations for investments into financial products have obliged providers to make major changes to how pension fees and charges are presented to investors. These rules apply to all investment funds, pension plans, and QROPS trustee fees. Not only must pension fees and charges be disclosed before an adviser can complete an application, but […]
Investment risk management
Investment risk management is an on-going exercise if we wish to meet our financial planning goals. As our personal situation changes, it’s important that we alter our investment portfolio to reflect new needs and requirements. While it’s relatively easy to assess risk at the point of investing, unforeseen events can force a rethink. The most […]
The UK Budget – Autumn 2021
The UK budget contained a mixture of giveaways and takeaways; its impact on the public depends on individual circumstances. One consistency with each Chancellor is that the budget is always presented as a positive initiative from a forward-thinking politician! Rishi Sunak followed the trend, basing his tax and spending decisions on “levelling up” and “a […]
Wealth Tax in Spain
Wealth tax in Spain is regarded as being a ‘blunt tool’ used by the government to raise revenue. It seems particularly unfair as an individual’s wealth has been accumulated from assets and income which has already been taxed. The good news is there are ways to significantly reduce liability for wealth tax in Spain by […]
Financial planning: time for a spring clean!
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 […]
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 […]
Sustaining pension income in retirement
Sustaining pension income in retirement is a common concern for most of us. We work hard to build up our pension pots, hoping that we can sit back and enjoy the fruits of our labour come the glorious day of retirement. However, for those in Defined Contribution (DC) plans, it’s still important to monitor and […]
The Spanish compliant investment bond
Thank goodness for the Spanish compliant investment bond! It seems like each country’s tax code has various ways of relieving us of our money. However, they also offer ways in which we can legitimately avoid taxation, as long as we purchase the correct financial products. In the UK most people are well aware of the […]
Pension transfer cost
As QROPS advisers, we are often asked how much a pension transfer costs and how long a pension transfer takes. It may come as a surprise for some, but the daily life of a financial adviser isn’t all fast cars, glamourous locations, and champagne lifestyles (Ho ho!). Pension transfers are a relatively complex administrative procedure, […]
Retirement Decumulation
Retirement is an exciting time for many of us, but not for those who experience retirement decumulation. It can be a daunting challenge when the certainty of employment income ceases and we have to live off built-up resources until we draw our last breath. This problem is less evident for those lucky enough to have […]