Interesting curation of Blacktower Financial Management news

As we hurtle towards the EU referendum and are being deluged with information about the whys and wherefores of Brexit or Bremain, Blacktower takes a look at what matters to us: the UK expats whose futures, whatever the outcome of the vote, are very much determined by the quality of their expat financial advice.

Just how many British expats are there in Europe?

Well, data published by the Office of National Statistics shows – although not completely reliably, we feel – that there are around 1.2 million British expats within the EU (some estimates put this figure as high as 2 million).

The vast majority of these live in tried, tested and sun-drenched destinations such as Spain and France. But before you start thinking that expats just move away purely in search of a sunnier climate, think again; the third most popular destination is Ireland (150 days of rainfall a year compared to the UK’s 133).

Rapid developments in IT systems, financial databases and data-sharing platforms over recent years now mean that it is easier than ever for nation states to share and exchange financial information relating to the investments, income, taxes, savings accounts, properties and pensions of individuals who have assets placed in multiple locations across the world.

Inevitably, this also means it now crucial to ensure you disclose your full list of assets whenever required.

As a British native you might be a little complacent in this regard. The UK has one of the most stringently and best-regulated financial advice sectors in the world, and in many cases if your adviser fails to disclose your full spectrum of assets and interests it is he or she, rather than you, who will be liable.