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.

Your financial plan in 2024 – key dates to watch

One of the best ways to put more hard-earned money back into your pocket (via tax-efficient planning) is to be well-prepared for key dates in the financial year. Below, our financial advisers offer a summary of the main milestones for British expats to watch in 2024. We also include some thoughts on how these dates could affect your financial plan.

How to navigate the Spanish wealth tax

In the UK, taxes are primarily imposed on income earned as it comes in. For instance, capital gains tax (CGT) is levied on chargeable gains from investment returns. Income tax is levied on a worker’s salary. The nearest thing we have to a “wealth tax” in the UK is perhaps inheritance tax (IHT), which is typically levied at 40% on the value of an individual’s estate once it exceeds £325,000. However, what are the rules in Spain?

A short financial checklist before moving abroad

As a British national preparing to move to Spain, relocating overseas involves more than just packing your suitcase. It is also essential to get your legal and financial planning “ducks in a row”, especially if you are planning to work or retire in Spain. Below, our Alicant financial planners here at Scottsdale offer a short financial planning checklist to help expats who are hoping to move to Spain.

What should you look for in an expat financial adviser?

Choosing the right financial adviser is a very important decision. Whilst it is a very positive step to work with an experienced professional, the selection process has its risks. You need to find the right adviser for your needs. This is especially true for British expats living in a country like Spain, where there can be added complexities in the financial planning process due to different cultures, tax laws and language barriers.

Are you ready for the cost of care?

According to the NHS, around one-quarter of British adults aged over 65 need help with daily tasks – whether from paid professionals or unpaid volunteers (e.g. family members). In England alone, 10m people across all age groups are affected by social care at a given time, with £22bn spent by local authorities between 2021 and 2022 on adult care alone.

Divorce & Financial Planning: A Guide for British Expats

Divorce is, by nature, a stressful and complicated time for everyone involved. For British expats, however, the process can be even more difficult. You may need to navigate a foreign legal system, language barriers and difficult questions about asset division and where you will both live. This is a vast and sensitive topic, but it is important to have a robust financial plan which can help to carry you through an expat divorce if this ever happens to you.

Marrying a Spaniard? A financial planning guide for UK expats

If you are reading this and planning (or hoping) to get married, then congratulations! There is a lot of preparation to do, especially for the big day. Yet tying the knot also brings a lot of financial planning considerations to the table. It is important to prepare for these with your eyes open. This is especially true for British expats marrying someone from abroad. The culture, tax laws and property rights associated with your (imminent) spouse may be vastly different from those in the UK.

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.