From April, domicile will no longer determine which assets are subject to UK IHT. The system is being replaced by ‘long-term residence’. As an expat, is your estate plan ready? In this guide, our financial advisers at Scottsdale will share some key information about UK inheritance tax (IHT), how it applies to overseas British nationals, and ideas to mitigate a needless tax liability on your estate.
Category: Tax Planning
The expat’s guide to double taxation
Are you taxed more than once on the same income? Double taxation is a key issue for many British people living abroad (expats). How can you identify whether you are at risk of double taxation, and what can you do about it? In this guide, our financial advisers at Scottsdale identify the key areas of Read the full article…
Beckham’s Law in Spain: a short guide
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.
Am I tax resident in Spain?
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!
Moving to Spain and capital gains tax – be careful
One of the biggest challenges as an expat is navigating taxes. The UK, for instance, will tax income and wealth differently to Spain and other countries. One often overlooked area is capital gains tax (CGT). Below, we explain how CGT works, how expats can inadvertently “trip up” on it when living abroad and how to plan effectively for it.
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.
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?
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.