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 Andrew Southgate


 

 

   

 

 

 

Articles in this section are supplied by Andrew Southgate, Private Client Manager at Blevins Franks. 
Find out more about Andrew on their website.

 

    

 Andrew Southgate      



Will Spain’s 2021 tax enforcement plan affect you?
Finance
Tuesday, 18 May 2021

It’s easy to understand why so many people want to live in Spain, particularly to enjoy their retirement years.  The lifestyle and climate provide many benefits and the wide variety of locations and properties suits all tastes and budgets. While there are a few pros and cons to weigh up, we find the biggest concern for many is taxation. 

 

 
Do UK pensions now attract wealth tax in Spain?
Finance
Tuesday, 18 May 2021
Generally, Brexit has not affected the tax treatment for UK nationals settled in Spain, as the UK-Spain double tax treaty determines how Spanish residents are taxed on UK assets. However, there may be a change in the way UK pensions are treated when it comes to Spanish wealth tax.  
 
Why it’s time to ‘think local' for your financial planning
Finance
Tuesday, 13 April 2021

In these times of restrictions and lockdowns, our worlds have become a lot smaller. Whether this will have a long-term effect on your travel, lifestyle and shopping habits will be a personal matter. But with Brexit now here, UK nationals living in Spain have good reason to permanently ‘think local’ when it comes to financial arrangements.

Just as UK citizens lost automatic EU freedom of movement on 1st January, many UK financial businesses lost the right to provide banking and investment services within the EU. If you are Spanish resident but still use a UK bank account, other financial products or a UK-based financial adviser, make sure you check where you – and your money – stand.

 
4 key benefits of effective tax planning
Finance
Tuesday, 13 April 2021

As well as a lower tax bill for you and your heirs, strategic tax planning can help provide estate planning advantages and boost investment returns.

When it comes to your savings and investments, is your main objective to preserve your wealth, provide an income or generate growth? Perhaps it is all of the above? Whatever the answer, tax planning plays an important role in protecting and making the most of what you have.

While the tax tail shouldn’t necessarily wag the investment dog, there are numerous benefits to strategic tax planning, especially for expatriates who have cross-border considerations. Here are four of them. 

 
Modelo 720 March deadline – What do you need to do?
Finance
Wednesday, 17 March 2021

Long-term residents of Spain will be familiar with Modelo 720 (Form 720), but newer residents may be unclear on what they have to do.  The penalties are prohibitive, so you need to get it right.  The deadline, as every year, is 31st March.

 

If you were tax resident in Spain in 2020 you are legally obliged to submit a Modelo 720 declaring the assets you own outside Spain worth over €50,000.  This is not a tax return as such; you need to complete it over and above your income and wealth tax returns.

 
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