So, when was the last time you talked to your financial adviser about what you should (or shouldn’t) be doing? Reviews should take place three or four times a year, and you should be able to reach your adviser easily by phone or email for updates or catch-ups at other times. There are many advisers who are determined and solicitous while they are trying to get your business, but few who remember they are meant to be meeting you regularly and providing ongoing advice and service.
Even when there aren’t any changes needed in your financial planning, making sure a client has peace of mind is a very important part of our job. A good advisory relationship should be based on trust and professionalism, so if you don’t feel properly taken care of – or don’t believe your IFA has your best interests at heart – you should look for someone who does.
Here at Blacktower, we want you to achieve your financial aspirations. Get in touch today.
Given the financial and political situation in Britain and Europe right now it is likely that more and more British people will look to move their pensions out of Britain, with a QROPS in France possibly the most popular potential option.
Over recent weeks the value of Sterling has taken a significant plunge resulting in significant rises in living costs for those reliant on the currency for most or all of their spending needs.
Inevitably, this means that many have had to reconsider their wealth management and financial planning strategies. Against this backdrop it is easy to see why experts are predicting a spike in the numbers of people taking advantage of a .
If you are resident in Spain (if you live here more than 183 days in a calendar year, the Spanish tax authorities and in turn the UK HMRC will class you as Spanish resident) and held assets outside Spain as at 29 December 2017 worth over Euro 50,000, and you haven’t already declared them on a Modelo 720, you need to so by the end of March.
You may ask why should you bother, well unless you want a huge fine and possibly tax audit (they can legally go back to 2012) it is in your best interests to do it.
Some of you may still be under the impression that the reporting of assets is not a legal requirement; if this is the case then sadly I have to tell you, you are mistaken. On 15 February 2017, the European Commission accepted that Spain has the right to require residents to declare overseas assets. While the Commission disagrees with the severity of punishments for late or inaccurate submissions, the requirement to submit the Modelo 720 form is not under challenge. The EU and the UK say it is a legal requirement.