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| | | Articles in this section are supplied by Andrew Southgate, Private Client Manager at Blevins Franks.
Find out more about Andrew on their website. | | Andrew Southgate | | | |
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Wednesday, 02 November 2016 |
In a year’s time, the Spanish tax
authority will have started receiving information on its taxpayers’ offshore
assets and income, under the new global automatic exchange of information regime. The UK is already being handed details of
hundreds of thousands of offshore accounts held in its Crown Dependencies and Overseas
Territories.
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Wednesday, 02 November 2016 |
Tax planning remains an important part of
protecting your wealth and retirement income, but it can be quite a minefield
these days, particularly for expatriates who have cross-border interests. You need detailed, up-to-date knowledge of
local, UK and international tax regimes and regulations to be able to achieve
the best results for yourself and your heirs.
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Monday, 10 October 2016 |
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If you're a Spanish resident living in Andalucía or you have
assets in the region, your heirs could benefit from recent changes to local
succession law.
From 2nd August 2016, succession and gift tax rules
include a revised main home relief and a new allowance for agricultural
business. Then, in January 2017 the tax-free allowance for inheritances is
likely to increase.
This is good news for taxpayers here, as it is the first
time the local authorities have reduced succession tax in 35 years. Once all these
measures come into force, Andalucía will no longer be the most expensive Spanish
region when it comes to succession tax.
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Sunday, 04 September 2016 |
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Some readers
may find these exciting times for the UK, as it prepares to leave the EU,
others may be concerned about what the future holds. Either way, we do not yet know the detail of
what the end result will be and it may be a while before we find out. How will
this uncertainty affect expatriates in Spain from a financial point of
view? While you should not rush to make
decisions, it is worth looking at your financial planning to consider if and
where you may need to make changes.
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Sunday, 04 September 2016 |
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Southern
Spain receives an influx of visitors at this time of year. It is not difficult
to appreciate why so many people fall in love with the local lifestyle and
consider making Chiclana de la Frontera their home. This is therefore a good time to run through
some of the tax and financial essentials you need to be aware of and plan for
if you are to get the best out of living here.
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Thursday, 04 August 2016 |
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One area of concern for British expatriates living in Spain is how the UK's
decision to leave the EU will affect their pensions.
As with issues like residency and healthcare, the rights you have now
should remain in place until the UK is officially no longer an EU member state,
a process that may take two years or more.
This gives you plenty of time for to consider your options. We may find that nothing materially changes
after that in how we draw and receive UK pensions in Spain, though income may
be affected by exchange rate movements.
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Finance