On the 30th of October 2024, Chancellor Reeves stood before parliament and delivered her first budget. It includes a range of tax rises, borrowing and spending commitments.
Most of the media coverage has focused on how this Autumn Statement will affect household finances in the UK. Less has been said about its potential impact on expats.
Did you know that around 33% of over-65s worry about running out of money in retirement?
Interestingly, this age group is more relaxed than British adults as a whole (50%!). Perhaps the further away retirement seems, the more intimidating it appears to support one’s lifestyle.
Are you looking to build financial security and momentum towards your long-term financial goals?
Living outside the UK can present unique opportunities and constraints when it comes to investing. Fortunately, with the help of a financial adviser, you can maximise more of the former whilst confidently navigating the obstacles posed to expats.
As a British expat, it is vital to have a financial plan to help you progress towards your long-term goals. With a strong plan whilst living overseas, you could take advantage of a special chance to grow wealth and maximise financial freedom – especially in retirement.
Yet, financial planning for expats is often different from financial planning for people based in the UK. There are unique challenges and opportunities to consider.
The Autumn Statement is typically one of two key dates in the UK’s financial calendar (the other being the Spring Budget). This year, the Chancellor (Rachel Reeves) is expected to announce the new government’s Autumn Statement on 30 October 2024. There is plenty of speculation about what policy changes it might contain. However, how might the Chancellor’s decisions affect those living abroad?
Did you know there is a specialised tax regime for expats in Spain? Beckham’s Law was introduced in January 2004, with English footballer David Beckham being one of the first to use it, having moved to Spain to play for Real Madrid a year earlier.
As a British expat, how should you invest your money? After all, many of the investment “vehicles” available to UK residents (e.g. ISAs) are not available to non-residents in Spain. One option to consider is Spanish Compliant Investment Bonds. Below, our financial advisers explain how Spanish Compliant Investment Bonds work and how they could feature in an expat’s portfolio.
Are you living abroad and wondering where you are “tax resident”? Your residency status may sound bureaucratic, but it has a tremendous impact on where you pay taxes, how much and in what manner. Indeed, oversights in this area can be very costly – as we will see below from some celebrity case studies!
Wellbeing is defined as a general state of comfort, health and happiness. It is vital for functioning well in life, emanating from your thoughts, actions and experiences. Whilst wellbeing is very much an internal dynamic (in our minds), our financial circumstances play an important role in determining how we feel about ourselves and our surroundings.
Did you know that Western workers now have 3-7 careers over their lifetimes, perhaps with 12 or more? Along the way, employees often build up a workplace pension with each employer. This can lead to quite a complicated picture in later life when you start organising your retirement! Dealing with 12 pension pots (maybe more) can be overwhelming and inefficient.