Are you a financial nomad?

Are you a financial nomad?


Fiduciary Wealth ManagementDo you try and keep under the radar of the local tax authorities pretending to still be a UK resident? If you spend more than 183 days in Spain you are deemed to be a resident and need to register with the authorities and are liable to tax on your worldwide income (double taxation agreements exist with the UK).

In the past local tax authorities may have been slow in chasing expatriates but they are now desperate to replenish their coffers and raise as much revenue as they can so if you haven’t received a tax demand yet the likelihood is that you will do at some point! Tax authorities throughout the world are exchanging information with each other in an attempt to catch those who are avoiding paying tax in the correct jurisdiction.

Are you drawing down income on your UK pension at your highest marginal rate which could be as much as 40% possibly 50%?  You probably haven’t been told that if you draw this income in Spain as a short term temporary annuity you can benefit from particularly generous rules which will reduce the income tax you pay to possibly less than 3%.

Would you like your beneficiaries to lose over half of the remaining pension fund? If you have already moved away from the UK you need to make sure your beneficiaries don’t suffer a 55% tax charge on the lump sum available from your UK pension fund. This tax charge applies if you were to die having already drawn down your tax free lump sum from your UK pension arrangement.

Are you interested in transferring wealth to your heirs without any IHT liability? With proper financial planning your beneficiaries would avoid UK Inheritance tax after 5 complete and consecutive tax years of non-UK residency.

Do you have investments that will increase the value of your estate in the UK and will be subject to a 40% tax charge on your death? Did you know that by formally exiting the UK you could potentially remove this liability?
You know you should do something about your Inheritance Tax position but of course you haven’t declared your real residential status and therefore you cannot benefit from tax planning opportunities available to Spanish residents. You know that your UK estate will suffer IHT and your beneficiaries will have to pay local taxes on your death but you can’t do anything about it.

So isn’t it about time you stopped burying your head in the sand and took some sound financial advice? With proper financial planning you can maximise disposable income as well as create, protect and arrange the eventual transfer of your wealth to loved ones.

Can you afford to carry on like this or are you going to give up being a nomad and finally be able to sleep peacefully at night knowing your financial affairs are all in order?

Find out how we can help you. Give us a call us on Tel: +956 796 911 or

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