Foreign exchange, also sometimes called FOREX or FX, is a crucial part of the lifeblood of the global economy – keeping commerce, travel and trade moving. On a personal level, moreover, foreign exchange can have a big impact on an individual’s wealth and finances. This is especially true for British expats living in Spain and other foreign countries, which often involves regularly changing currencies (e.g. pound sterling to euros).
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QROPS: a short guide for UK expats in Spain
For British expats retiring to Spain (or another country), one of the key questions to answer is what to do with your pension. Should you keep it in the UK, drawing an income from it whilst abroad? Or, should you “take it with you” – i.e. transfer it overseas? The latter option can be done using a Qualified Recognised Overseas Pension Scheme (QROPS). Below, our Valencia financial planners at Scottsdale explain how QROPS works for British expats in Spain and how it can feature in a wider retirement plan.
How to plan financially for a return to the UK
There are lots of reasons why British expats might choose to return to the UK. Maybe you need to be nearby to care for an elderly relative. Perhaps retirement overseas did not work out exactly as you hoped and it is time to go home.
Should I invest in Britain, Spain or globally?
One of the benefits of being a UK expat is that you often intuitively grasp that there is a world “beyond Britain”. Opportunities in culture, food, relationships and travel exist outside our own shores. Yet does the same hold true for investing? Should you invest mainly in the UK as a British expat, or overseas?
Financial planning for British digital nomads: a short guide (Pt 1)
In 2023 there will be an estimated 35 million digital nomads worldwide, with British nationals making up 8% of the total. Common careers for these individuals include consulting, marketing, content creation and digital design.
Which taxes should I be paying as an expat?
Taxes can seem complicated enough when you only live in the UK. However, living as a British expat in Spain can appear even more so, since you might need to pay Spanish taxes instead (or in addition!). How can you navigate all of this confidently and avoid pitfalls?
Do I pay tax in Spain on a UK inheritance?
If you are a British expat living in Spain and you suddenly receive an inheritance from a loved one back home, what happens? Do you pay UK inheritance tax (IHT), Spanish IHT or both?
Navigating bank accounts in Spain as a foreigner
Does a British expat need to be a resident in Spain to open a bank account there? What is involved with the process, and what benefits should you look for as a foreigner?
Double taxation: a short guide for British expats in Spain
Have you relocated from the UK to Spain (or you are planning to do so)? If you are feeling confused about tax, you are not alone. Navigating tax planning as a British expat is challenging. Yet it can be done – especially with professional advice.
Can I get my UK State Pension if I move to Spain?
A retirement in Spain needs a reliable, sustainable income. The UK State Pension can be a valuable income stream for many UK expats residing here. Yet what are the rules governing it? How can you get the best State Pension deal as a British expat?