Do you live in Spain and still have UK and Offshore Investments?
Many UK nationals have accumulated savings and investment portfolios using an array of options, such as National Savings to Individual Savings Accounts (ISAs), Personal Equity Plans (PEPs) and Premium Bonds. Unfortunately, once you take up residence in Spain, the tax incentives provided by the UK schemes fall away and the income and gains may become wholly taxable under Spanish law.
When you move to a new country, it is a major change and should prompt a complete review of your wealth management to ensure it is as effective as possible for your new life. Similarly, if you have lived in Spain for a number of years, it would be wise to have a full review of your saving/investment/pension position to ensure optimum benefits. We take a look at some of the most common investment types and what your move to Spain might mean for your finances.
