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 David Bowern


 

 

   

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Is Your UK Property Worth Its Weight In Tax?
Thursday, 28 April 2016

For British expatriates, it may seem like financial sense to keep hold of your house in the UK. However, recent changes have generally increased the tax burden for owners of residential properties in the UK.

 

If you have UK property, it is important to understand what has changed and how you might be affected.

 

 

 

 
What Will Happen To Your Legacy?
Thursday, 14 April 2016

Many readers are enjoying their retirement years here in Spain, taking advantage of all the benefits living in Southern Spain has to offer.  You are reaping the rewards of all your hard work advancing your career, perhaps building up and selling a business, and the effort you put into accumulating your savings, investments and pension funds.  Some readers may have inherited capital, which has helped them achieve the dream of moving here.

 
UK Budget 2016
Thursday, 14 April 2016

In his eighth Budget as Chancellor of the Exchequer, George Osborne announced very few changes that are likely to affect expatriates on 16th March 2016.

The Personal Allowance is increasing to £11,500 in 2017/2018 (it will be £11,000 per person in 2016/2017), and the higher rate band will apply to income in excess of £45,000 in 2017/2018.

 
Form 720. What Do You Need To Do In 2016?
Tuesday, 01 March 2016

We are fast approaching 31st March, the deadline by which residents in Spain need to submit their annual Form 720 (Modelo 720) listing their overseas assets, where applicable.  If you have previously submitted a form, you only need to declare assets if they have grown a certain amount or you have sold or closed them. 

Besides confirming what you have to declare this year, this is also a good time to consider whether you are holding your assets in the most tax-efficient vehicles for Spain.  If you have investments that were set up with UK taxation in mind, you may be paying more tax in Spain than you need be.

 
How Does Spanish Succession Tax Affect You?
Tuesday, 01 March 2016

If you live in Spain, the chances are that your heirs, or perhaps even yourself, will be hit by Spanish succession and gift tax.  Many British nationals also remain in the UK inheritance tax net – being non-UK resident alone is not enough to escape this tax.

While they are both taxes on inheritances and gifts, there are significant differences between how they taxes are applied, and the Spanish tax rules can come as a surprise to some.

 
Estate Planning Will You Have Control and Certainty?
Friday, 05 February 2016

We all sleep better when we feel confident that our affairs are in order, and as we get older we think more about the legacy we will leave to future generations; specifically, how and to whom our assets will pass on our death.

Increasingly, estate planning is a major concern for expatriates.  You have worked hard to build up your wealth and want to pass it on to children and grandchildren to help them as they make their way through life.  You want to ensure the money is used wisely, at the time they need it most.  But how can you have control over what happens after you are gone?  You may have many years left in retirement yourself, and so need to continue to receive income or take capital in the meantime.  

 
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