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Is the Spanish “ISA” the Perfect Solution for You?

Fiduciary Wealth Team

If you are from the UK you will no doubt have either invested in an ISA or at least considered this tax efficient savings vehicle as an option for your medium term investment needs. Tax efficient and only restricted by the small annual allowance ISA’s have allowed investors over the years to build up a valuable holding which will not be subject to tax.

We have explained in previous articles that once you become resident outside of the UK you will no longer be able to contribute and in Spain future gains will be subject to the Spanish savings tax regime.

Now what if I told you we can provide you with an alternative that not only gives you tax free growth but also can help solve another major Spanish tax dilemma that of Spanish succession tax on jointly owned assets? Wouldn’t you be interested and wouldn’t that type of arrangement fit very nicely with your new life here in Spain?

Just think you can get an investment return that is only subject to tax when you make a withdrawal – and then only on the growth element never on the original capital (send us a quick email to enquiries @fiduciarywealth.eu with “withdrawal example “ in the title and we will send you back an example of how the withdrawal tax is calculated).

The benefits don’t stop there, if like me your ultimate beneficiaries are back in the UK, or outside of Spain at any rate, then on second death the proceeds will escape Spanish succession tax as well.

I should also add that the product is approved by the Spanish tax office and even though the asset is kept outside of Spain it doesn’t need to be included on your annual Modelo 720 return.

Interested? There are plenty of other ways the Spanish “ISA” can help you enjoy your time in Spain and get on with what’s really important to you. Whether you need to draw regular income, use your funds to provide capital for a major purchase in the future or just preserve your assets for future generations to enjoy ; this product ticks all the boxes.

Oh and unlike a UK ISA which has that restrictive annual allowance this product allows you to invest from €50,000 upwards.

Let us show you how the Spanish “ISA” can work for you.

We can start by offering you a FREE private consultation (worth £500) to assess your current financial position and explain how the Spanish “ISA” can work for you.  If you already have a clear understanding of your current situation we can offer a FREE tax planning assessment instead (worth £1,000). Just think you will be getting FREE advice on tax planning for Spanish residents as well as retirement, savings and wealth tax mitigation strategies.

We will even given you a discount on the set up fees for your Spanish “ISA”which can be worth up to £10,000 if you invest £250,000 or more.

Speak to one of our qualified expat advisers on tel 951319727 or email enquiries@fiduciarywealth.eu. Need advice and still based in the UK? We have an FCA approved branch in central London, call for details.