UK Prime Minister Theresa May has continued to confirm her commitment to secure the rights of British Nationals living in EU countries (whilst at the same time protecting the rights of EU nationals in the UK). This is very encouraging.
In this briefing note, we focus on questions that have been asked by our clients and which are concerns shared by other expatriates living here.
Advice
- Blevins Franks’ advice to non-UK residents (based in other EU countries) remains as valid as ever as our wealth management solutions are provided by organisations based in the EU but outside UK (e.g. Luxembourg and Malta).
- Double Tax Treaties will also continue to remain effective as they are independent of the EU.
Investment markets
- Sterling and the UK stockmarket fell sharply in the immediate aftermath of the referendum. But the positive impact of a lower Pound on British exporting companies has been illustrated by the recovery in the market, with the FTSE 100 at 6,700 close to a 12-month high.
- We asked two of our key investment partners – Edmond de Rothschild and Russell Investments – some specific questions on their current views following Brexit and the implications for how they are managing our clients’ portfolios. Click here to read their responses.
- We find it reassuring to have active investment partners who continually review events from an economic and market perspective; evaluating the likely implications and adjusting investment strategies accordingly.
Pensions
- One area that could be impacted in the future is the taxation of pension withdrawals taken by non-UK residents (i.e. UK nationals living overseas). If you are concerned about this, or any other matter relating to your pension, please do not hesitate to contact us.
Long-term residency in EU countries
- Many of our clients who have lived overseas for several years have been prompted to consider applying for long-term residency in the country in which they live. If you would like guidance on this, please contact us.
We will continue to monitor events and keep you informed, but if you do have any queries please do get in touch.
