For many people, pensions will be the “bread and butter” of a retirement plan. In 2024-25, pensions are still widely regarded as highly tax efficient, helping savers in building long-term wealth. Yet, what are alternatives? How do they compare to pensions?
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How to invest 30K. Five ideas from a financial planner
Have you recently received a windfall, such as an inheritance, and are wondering what to do with it? Perhaps you wonder how you might invest a lump sum if you ever received one. In this article, our financial planners offer some ideas about how someone could invest £30,000 in 2024. We hope these insights are useful.
“Is life insurance taxable?” and other FAQs answered.
Life insurance and tax. How do they relate to each other, and how does this affect your finances? In today’s uncertain world, it is vital to have a financial safety net in place, ready to protect you and your loved ones. However, you do not want any unexpected taxes arriving, potentially eroding the lump sum (or replacement income) you hope to receive.
Can I avoid paying council tax on an empty property?
For many British expats, it is common to have a property back in the UK. Often, the property will be rented out (e.g. on a Buy to Let or “lease to let” basis), providing an income to cover the mortgage, pay for maintenance/admin costs and, hopefully, generate a small profit. However, owning property in this way can bring complications, especially regarding tax.
The Spanish Exit Tax: A Short Guide
Many British people (understandably) dream of their anticipated new life overseas. Yet have you considered what might happen if you leave your country of destination? In Spain, an “Exit Tax” can apply to certain UK citizens when they formally move to another country.
Insure a life (Seguro de Vido) – navigate life insurance in Spain
What would happen to your loved ones if the worst happened? This is not a fun question to ask ourselves, but it must be asked – especially if we have dependents, such as young children. British expats do have a range of financial protection options.
What to look for in an investment portfolio service
For British expats serious about building wealth over the long term, they need to look beyond cash. Although cash can be helpful to achieve certain financial goals (e.g. an emergency fund), the interest rates (even from fixed-rate deals) often do not keep up with inflation – eroding real returns over time.
Can I cash in my army pension?
Pensions can be complex for those in the armed forces. With regular postings overseas, British Army personnel are subject to special rules which differ from those typically applied to British expats (and other non-UK residents).
How to make the most of your wealth as an expat
How do you create long-lasting wealth as a British person living overseas? Having assets and/or income in different countries can add extra considerations to wealth management. For instance, you might need to account for the impact of exchange rates – and different countries’ inflation rates – on the “real” value of your assets.
5 key things to include in a will
A will is important for UK residents, yet for expats it is even more so. With interests and assets based across different countries, it is vital that your loved ones are protected in the event of your death. For Spain-based expats, the last thing you want is for grieving family members to be confused about what your wishes were – and, how the rules apply about inheritance tax (IHT) in Spain and the UK.