Investment Cons and Misleading Deals

For high-net-worth individuals and international families, wealth planning is rarely straightforward. The tax landscape is constantly shifting, with governments introducing new rules, closing loopholes, and reforming existing structures to generate more revenue. At present, discussions around new or expanded wealth taxes are gaining momentum across multiple jurisdictions. Whether it’s inheritance tax reforms in the UK, […]

Living as an expat in Spain, or indeed in any other country, brings particular and sometimes very complex wealth management requirements because managing personal finances across multiple jurisdictions is inherently complex and invariably requires specialist advice.

This goes some way to explain why thousands of British expats have recently been caught and penalised for either failing to pay taxes or unlawfully claiming British pension and other social security benefits while living and, in some cases, working abroad.

Cross-border taxation for expats is a notoriously confusing area of wealth management and can seem especially onerous with new data sharing and enforcement rules in place. Unfortunately, not all asset managers are as familiar with tax reporting requirements as they should be. This may seem inconceivable, but wealth management professionals in Spain, across Europe and indeed the globe have an obligation to clients to ensure that they understand and follow all the rules.