Cross Border Tax Planning
It is very common for individuals to have assets in more than one
country, and consideration needs to be given as to how they are
taxed in the different jurisdictions. It is important to look at the
ongoing tax position whilst assets are still held, together with any
tax implications when assets are sold.
Overseas assets can bring complications upon disposal, as there may
be tax due in the country in which they are held, as well as
reporting requirements and/or tax payable in the country you are
Added to this is the “Common Reporting Standard” which was approved
in 2014 and allows for the automatic exchange of information between
tax offices. The purpose of this standard is to expose tax evasion,
whether that be intentional or not, so it has never been more
important to make sure you are paying the right amount of tax to the
right tax authorities at the right time.
Another important aspect of cross-border tax planning includes the
difference between UK Inheritance Tax and Spanish Succession Tax.
This can be a complex area and it is an area of financial planning
that causes the greatest level of concern for many individuals. It
is key that you understand how the 2 systems work and how they might
impact on your eventual beneficiaries, whether that be your spouse,
children, family or friends.
Our extensive knowledge of the UK (gained from a collective 30 years
of working before emigrating to Spain), often stands us in good
shape to advise on common problems we face when moving abroad. With
careful planning, taxation can often be minimised but only if your
adviser fully understands the differences in the two countries
reporting requirements and tax allowances.
For more complex matters, we are in the fortuitous position of
having built up a number of wonderful relationships with high
profile, well trusted professional connections, some of which date
back over decades. These long standing relationships mean that we
can offer our clients tax efficient solutions, from trusted sources,
taking into consideration all eventualities. We consider ourselves
very lucky to count on their experience and expertise.
We are extremely proud to say that the vast majority of our
clients are referred to us either from existing satisfied
customers or through our network of tried and trusted
professionals. This reflects our ability to gain the trust of
our existing clients and our professional connections alike.
Logic Financial Consultants are proud to have established a
wonderful reputation for quality financial advice. This
website contains just a few of the many testimonials we have
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