When I was planning to buy a house in
Spain, a few years
ago, I came to the conclusion that, in tax planning terms, the UK was a good place to accumulate wealth,
including pensions and
was great for retiring and spending the wealth. Some Budgets and political
shifts have affected this, but largely it is still true. Spain
· Professional advice needed
· How can I benefit?
· You need to establish Tax Residency
At a time when Governments, across
Europe, are increasing taxes, it is
vital the effective tax planning is undertaken so that you do not pay more than your fair share, whilst also resisting any
temptation to get caught by tax evasion.
This article on the difference between Tax Avoidance and Tax Evasion refers to
some of the issues. http://expatsfrombritain.blogspot.com/2011/04/tax-avoidance-and-tax-evasion.html
Minimising your tax liability and staying legal is best explained in my recent post on ‘Getting Financial Advice’
It is, however, essential for tax planning and taking advantage of the Spanish system, it is must that your tax adviser, takes into account, all of your financial plans. If you would like a comprehensive review of your finances, please email me
The key issues are;
- Residential status and domicile
- Where your assets are held
- The nature and source of your current and future income
I have come across financial advisers who could not even distinguish between residency and domicile, when I checked the advice they gave one of my readers I was horrified. There are still advisers giving misleading, bogus and poor advice. Please don’t get caught out. It is imperative that you seek out a professional adviser. I can help if you need me to recommend the right advice if you email me.
Also I had correspondence from a reader who has plans to move to
when he and his wife retire.
They approached one of the most recognised and leading International Financial
Advisers operating in Spain ,
via their London HQ. Before they could even be ‘granted’ an appointment this
firm wanted £1,000 up front! Spain
I never recommend advisers who charge up front fees
Financial Pages in