Many people move to Spain to enjoy the slower pace of life, especially if their work in the UK has been demanding. One of our clients had literally ‘had enough’ of his high-profile professional career, and decided to retire, to a quiet part of the Costa del Sol, slightly inland and away from the crowds.

The sale of their house in the Home Counties enabled them to buy a beautiful property in Spain, with more than enough left over to supplement their pension. Siddalls converted their pension into a Euro-based Self-Invested Personal Pension (SIPP) and managed their investments to give them a good extra income while paying as little tax as possible. We did this by choosing Euro-based funds outside the UK and Spain, but still within the EU.

Inheritance planning was also important for this couple, and we dealt with both UK and Spanish inheritance tax. To minimise their liability for Spanish wealth tax, we set up offshore trusts.

We’re still in regular contact with the couple, as the SIPP and offshore trust are actively managed. We also give them ongoing general financial advice, such as help with finding the most tax-efficient bank accounts.

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