Monday, 24 September 2012

Financial Pages in Spain - Key Issues

Since starting in August 2010, Financial Pages in Spain has grown to over 150 posts. Whilst time moves on, many of the issues remain the same, but need updating. This is a summary of the most popular posts over the last year, by important categories;


  • UK Pension Scheme but you Live in Spain
This post lists 30 different types of UK Pensions Schemes to help readers understand what the might have. There are then a series of questions and answers

  • QROPS – Comparing Jurisdictions
Following very substantial changes to the rules and regulations, in April 2012, QROPS (Qualifying Recognised Overseas Pension Schemes) have changed substantially. Here is an update of the key jurisdictions for QROPS

  • QNUPS (Qualifying Non-UK Pension Schemes)
These were introduced in 2010 under arrangements to shelter retirement income producing assets from UK Inheritance Tax (IHT). British nationals who are Spanish residents often, mistakenly, think that IHT doesn’t apply to them

  • UK Overseas Pension Schemes
This summary will be of interest to expats who work, are near retirement or already retired. It includes a summary of Section 615 schemes for those who work in Spain.

Our hard earned pensions are often our second biggest asset (even if you didn’t know it). You need PROFESSIONAL ADVICE to look after your future income and protect its capital value. Please email to be referred to an adviser I have thoroughly checked.


  • Tax Avoidance and Tax Evasion
These issues are topical though I am regularly annoyed that newspapers, broadcasters and politicians confuse the two. Its easy to deal with tax evasion – it’s illegal. Tax avoidance is legal but much more complex. Seems to me that most taxpayers, in any country, want to AVOID tax as long as they are not illegally EVADING tax!

  • Five Non-Resident Taxes
This is an issue which never fails to amaze me.  I’ve produced a PDF which anyone can request. I suspect that everyone who owns property in Spain should be checking out. Just email me

  • Spanish Inheritance Tax (ISD) - Impuesto sombre sucesiones y donaciones
The first important fact that expats and property owners should know is that UK IHT and Spanish ISD are not covered by a Double Taxation Agreement or Treaty. British nationals are often shocked to learn that ISD is payable on the death of the first spouse or partner.

Whatever your taxation position and even your liability in the future, planning is key. Email and I’ll link you to a professional if you give me a brief outline.

Investment Planning

  • Why Invest Offshore?
Well certainly NOT for tax evasion! Offshore investment suits a surprisingly large number of expats and property owners. It’s certainly worth investigating but only through professional advice.

  • Tax Efficient Savings for Expats
This includes long term investments as well as traditional savings. For the expat there is often the added complication of foreign exchange differences too.

Other Important Issues

  • 10 Things that some advisers won’t tell you
When someone first told me, I didn’t believe it! Many advisers, even those saying they are regulated by FSA, refuse to disclose commission which has been a UK rule since 1993. These nine other abuses too. I can refer you to advisers I have carefully checked if you email me.

  • Getting a Second Opinion
Financial Pages in Spain will gladly give a second opinion to any advice received – just ask!

  • La Torre Fx – Foreign Exchange
It’s online and available 24 hours per day, every day of the year. After setting up the account, it can be used over and over again. Your first use takes a little longer to comply with necessary ID checks, but after that it’s super-quick! The rates offered have been specifically targeted at beating the banks and giving you the bonus

Enjoy Spain – avoid the usual pitfalls and can I suggest that you followFinancial Pages in Spain

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David Goodall
Financial Pages in Spain