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If you live outside the UK, or plan to do so in the near future, Blacktower's professional and knowledgeable local guidance can prove invaluable in helping you understand your tax obligations, both in the UK and in your expat place of residence.

Making sense of tax requirements can be difficult at the best of times, so, when you add cross-jurisdictional and foreign language complications, it's not hard to see why some expats worry about taxation issues, particularly when they have assets located in more than one country.

If you want to meet all your taxation responsibilities, be certain you are paying tax in the right place, and take steps to protect your wealth and income, we can help, with our tax planning service. In fact, living abroad is rich in opportunities to develop tax-efficient structures that will work to your benefit.

And it's worth noting that being poorly prepared or oblivious of your obligations is not considered a legitimate reason for not paying tax or declaring assets. If you fail in your responsibilities, it can result in severe financial penalty or even prosecution.

Let us help you protect and grow your wealth

The Blacktower Group was formed in 1986 to provide independent wealth management advice and a bespoke service for both individual and corporate clients, and has been specialising in offshore advice since 1996, opening its first non-UK office in Portugal’s Algarve in 2000.

We’re committed to delivering the highest attention to detail and professionalism, and with our expat tax advice, we can assist you with all of the following issues:

  • UK taxation obligations
  • Tax requirements in your expat country of residence
  • Tax residency and domicile determination
  • Establishing tax efficiency
  • Making timely and accurate taxation declarations
  • Keeping abreast of changing reporting, regulatory and legal obligations

As a UK-originated firm with offices in 15 non-UK locations, Blacktower is ideally placed to give you the advice you need to understand how your obligations and interests in one place affect your obligations and interests in another.

Whether you are based in Germany, France, Spain, Portugal, Malta, Sweden, the Netherlands, Gibraltar or elsewhere, we can provide tax planning advice to help you protect your income, savings, investments, pensions and general wealth from unnecessary taxes and inefficient financial planning.

Capital gains tax

Many countries will impose capital gains on profit from real estate, whereas others don’t impose any form of it. Wherever you move to, it’s important that you understand how it affects you – and our tax planning services will explain it to you every step of the way.

While double tax treaties between the UK and other European countries generally mean you should not be taxed twice on the same gain; if you have any questions or issues relating to capital gains tax and the best way to manage your obligations, contact Blacktower today.

Discover more about capital gains tax

Income tax

In some countries, income tax rates can exceed 50% and are imposed on a progressive scale, with higher rates applying to higher earnings. The tax typically applies to worldwide income, including that which is derived from pensions, earnings, investments and rental property.

However, it may be possible to reduce liability through a combination of prudent planning.

Double tax treaties should ensure that you do not have to pay the maximum level of tax twice on the same income – in such cases, tax credits usually apply.

Income tax obligations are complex and are constantly changing, if you would like to know how the rules in your country of residence affect you and your worldwide assets, then get in touch with us.

Discover more about income tax

Wealth tax

There is no wealth tax in the UK. However, Spain imposes a wealth tax on residents whose assets – including real estate, jewellery, art, furniture, savings and investments, cars and boats – are valued above a certain threshold, as well as on some UK residents who own significant assets in Spain.

Portugal and France also have a wealth tax, but it only applies to real estate.

Wealth tax can pose particular problems for people who are asset-rich, but on a low income. Prudent planning for those in this situation should be considered essential, and is offered as part of our tax planning service.

Fortunately, there are structures in place and steps you can take to reduce liability due on your assets. If you have moved to one the above countries or you are about to, you should contact Blacktower at your earliest available opportunity to discover the next steps you should take.

Discover more about wealth tax

Inheritance and succession tax planning

Cross-jurisdictional inheritance tax planning can be complex and arduous, particularly if you have assets and beneficiaries in more than one country.

Planning in this area is essential if you are to ensure that your assets are distributed in accordance with your wishes, and without an avoidably punishing tax bill. This includes taxes on gifts made during your lifetime and taxes payable on death.

Discover more about inheritance tax

Take control of your tax planning today

Trying to manage your tax obligations in both your home country and the country you reside in can be difficult and time-consuming; but our expat tax advice service can help to take the stress away. To speak to one of our specialists, or for more information, simply get in touch with us today, or take a look at our range of free guides below.

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