Financial Planning Website Launch

Fiduciary Wealth Team

We are pleased to announce the launch of our new website

One of the biggest issues facing anyone contemplating a move abroad, whether to work or retire, is what to do with their UK pension scheme. Since changes in legislation that took place in 2006 there has been a real alternative with the introduction of QROPS which allow the transfer of pension benefits to an HMRC approved overseas scheme. For most people there are compelling reasons why a QROPS will be the right choice but this is dependent on a number of factors including perhaps surprisingly the need to recognise that spending the requisite number of days in a new country triggers a need to become tax resident in that jurisdiction ( in Spain 183 days in any one year).

Not only can a transfer to QROPS mean signficantly lower tax on income drawn from your pension fund but also a means of potentially avoiding a 55% tax charge on the  remainder of your pension fund which can apply in the UK to a lump sum payment to beneficiaries when you die.

For those with investable assets outside of their pension a QNUPS retirement scheme can solve two of the major problems expatriates face, namely how to use their wealth to generate tax efficient income whilst at the same time protect those very same assets from UK inheritance and local succession taxes.

We have put together a downloadable guide that answers many of the questions about QROPSand QNUPS that you need to know which you can download free from the site.

Successful retirement planning for expatriates requires a thorough understanding of pensions’legislation and the tax implications in both the UK and Spain. Of course establishing a QROPS or QNUPS is only one part of the equation. Pro active management of your pension assets going forward can make a signficant difference to your future prosperity and to those who will eventually benefit from these investments.

Our pensions advisers are available for consultations in Spain, UK and Gibraltar. To arrange an initial meeting telephone +350 200 50982 or email wealth@