Contact

News & Insights

Will Brexit provoke ‘travel tax’ for UK residents?

The EU Commission said the system of security checks is necessary to prevent terrorists entering the open-borders area, but UK Brexit critics warned it is further evidence of the hidden cost of quitting the Union.  Under the system, countries from outside the EU which do not require a full visa to travel to the bloc, will now pay a five Euro fee and must complete an online form.  The EU’s security commissioner has attempted to justify the charge by saying that it is an anti-terrorism measure.  What is not clear is what effect this will have on ex-pats travelling back and forth to the UK.

MPs have latched on to the potential charge as another hidden cost of Brexit and an example of how Brits could be disadvantaged compared to other EU residents.  Citing the move as a hidden tax and extra paperwork adding to the impact of the poor exchange rate on British travellers.  The proposals were to be discussed last Friday and the Home Secretary is seeking clarity on how Brits can continue to enjoy free and easy travel within the EU.

This appears to be another piece of evidence of the negative effect of leaving the EU for UK people in Spain. The adverse exchange rate prompted by the Brexit vote is still causing hardship amongst ex-pats coupled with the appalling returns on savings. 

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

Inheritance is becoming an increasingly important factor for overall wealth

CoinsA big part of your financial planning is deciding what is going to happen to all your money and possessions once you pass away. For many, effective estate planning is a crucial process that should not be taken lightly – and for a good reason.

It appears that inheritances are a key source of wealth for younger generations, although the amount of wealth people will receive varies greatly, many will rely on the death of parents and family in order to help them afford major items such as going to University, buying a property or starting a business.

Read More

NEWS WRAP – Regulated Advice Crucial to Expats in Spain

ConfusedIncreasing numbers of British expats in Spain are looking for advice and direction in relation to their Post-Brexit futures, the Guardian reports*, with many expressing their disappointment at the level of communication offered by British and Spanish officials.

This impression is supported by the findings of Karen O’Reilly, a sociology professor at Loughborough University, who recently published the results of an 18-month long research project which documents the considerable levels of “uncertainty and worry” among expats.**

Read More

Select your country

Please select your country of residence so we can provide you with the most relevant information: