Number of British expats in Spain has doubled over the past decade
New figures from the Office for National Statistics (ONS) have shown that the number of British expats living in Spain vastly outnumbers Spaniards living in the UK. What's more, the number of Britons over 65 years old living in Spain has more than doubled in the past decade.
The purpose of the ONS's report, which is the first in what is intended to be a series, was to collect accurate, up-to-date information on the citizens most likely to be affected by Brexit. It was produced in partnership with the Instituto Nacional de Estadistica (the Spanish National Statistics Institute).
“Expats hit by 25% Tax Charge on Overseas Pension Transfers”
My recent meetings with clients have largely revolved around transferring pensions out of the UK into Qualifying Recognised Overseas Pensions (QROPS to you and me). Without exception, all of my new clients have been scared to discuss their UK pensions with a Financial Adviser in Spain because of headlines like the one above (Financial Times – March 10, 2017).
Spanish Asset declaration: Modelo 720
As we are aware, in November 2012 the Spanish authorities approved a new law that obliged any person, permanent establishment or company who is resident of Spain (regardless of nationality ) to declare all assets they hold outside Spain worth more than €50,000 (per Asset Class). These Assets have to be reported on the Modelo 720.
Is May’s proposal “fair and serious” or does it put British expats in jeopardy?
Very recently, Theresa May unveiled her "fair and serious" plans concerning Brexit and the rights of expats affected by it, but it has not been met with approval by either EU citizens in the UK or British expats living in EU member countries. British expats fear that Theresa May's proposal may have ramifications for their own residency rights. Both groups have wished for all matters concerning their legal status to be settled early on in Brexit talks, but, so far, it seems the attempts made to progress matters have only caused further confusion.
Best Income for Expats – Update
Here is a brief resume of what is exactly available in the market place for expat investors and the rates you can expect to receive. Getting the best income possible from your investments is crucial in the current economic climate.
Could the Dutch tax break for expats be changing?
As an expat the way you pay tax and how your regular savings may grow could be very different to how it is at home in the UK, which is why all expats need to be fully aware of the financial systems of their chosen country of residence.
For instance, if you have moved to the Netherlands for work, or you're considering a move in the near future, changes to a beneficial tax break could be on the horizon meaning your entitlement to tax-free income is cut.
Norway’s new secure bank notes have a fishy theme
Norges Bank has recently introduced the new series of Norwegian banknotes, which display a rather unusual design.
Traditionally, as is the case in most countries, Norway's banknotes have always been adorned with portraits of the country's important historical figures. But this new series of currency has done away with tradition and instead features images with one theme tying them together: the sea.
Could Spain be heading for its own EU referendum?
The process of Brexit is a complicated business. It's been a year since Britons voted to leave the European Union. But how has Britain's controversial decision and its handling of the situation thus far affected other EU countries' views of the Brussels-based Union? Has the uncertainty faced by the British Government convinced others to stay put, or do they wish to follow suit and have a Frexit, Spexit, Grexit, etc.?
A recent poll by Pew Research Centre gathered opinions from almost 10,000 people from 10 European countries including France, the Netherlands, Spain, Germany, Poland, Sweden, Italy, Greece, Hungary and UK. The purpose of the survey was to find out the attitudes towards Brexit and the EU from across Europe. It questioned respondents on topics such as would they want a referendum of their own and whether they think Brexit is positive or negative for Britain and other member countries.