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Nations Cup Round One

By Jozef Spiteri
This article is published on: 17th December 2025

17.12.25

Early Leaders Emerge!

The Nations Cup got off to a lively start with a competitive and hard-fought opening round, quickly giving us a first look at how this year’s tournament might shape up.

The Rest of the World set the early pace with a strong all-round showing, claiming a 5–1 win over Malta. Solid performances across the matches helped them build momentum early and turn it into a clear advantage on the scoreboard.

Hot on their heels, the Scandis & Nordics produced a calm and efficient display to secure a 4½–1½ victory against GB & I. As defending champions, they looked composed and well organised, keeping themselves firmly in the mix from the outset.

GB & I showed flashes of quality but couldn’t quite swing the matches their way, while Malta faced a tough opening test. Both teams, though, will be keen to bounce back as the next rounds get underway. Next matchday will be on 1st February.

The Spectrum IFA Group is once again proudly supporting the tournament and Craig and Jozef were there on the day to present Spectrum’s offering. With Round One complete and plenty of action already on the board, the stage is set for an exciting and closely contested competition as it continues.

Taking place at the lovely Royal Malta Golf Club – the 3 matchday competition launching in December 2025 between teams representing Malta, GB & I, Scandinavia and Nordics and The Rest.

Intra-Company Transfer Visa Spain

By Barry Davys
This article is published on: 17th December 2025

17.12.25

The Intra-Company Transfer (ICT) Visa is designed for non-EU employees of multinational companies who are being temporarily transferred to a branch, subsidiary, or client in Spain. It is intended for managerial, technical, or highly specialised staff.

If you are based in Barcelona or the Costa Brava or are thinking of moving to Spain, please click here to contact Barry
If you are based in another country and would like to talk to an adviser, please click here

Key Requirements

  • Employment with a UK company that has operations or clients in Spain, with at least three months of prior employment before the transfer.
  • Private health insurance valid in Spain.
  • Applications can be submitted either:
    • Online in Spain by the Spanish branch or client (approx. 20 working days), or
    • Via the Spanish Consulate in the UK if applying from abroad.
  • Visa valid for the duration of the transfer, up to three years, and renewable.
  • Eligibility for the Beckham Law reduced tax regime.
  • Covered under the

Understanding the Financial Impact of Your Move to Spain

Obtaining your visa is a crucial step, but understanding the financial implications of your relocation is just as important.

Many ICT applicants ask whether they can access the Beckham Law and how this could affect their tax position. While the widely advertised 24% tax rate on earnings up to €600,000 per year is the most visible element, there is another significant benefit that can greatly reduce your tax bill for the entire five-year period of the regime.

At The Spectrum IFA Group, our advisers combine professional expertise with first-hand experience, having each gone through the relocation process themselves. We help clients optimise their finances and make informed decisions before and after moving to Spain.

Additional Resources

Working With Trusted Visa Specialists

While we specialise in financial planning, we are not immigration lawyers. For visa matters, we work closely with Klev & Vera, a respected Barcelona-based law firm led by managing partner Anna Klevtsova, who holds degrees in International Law from both the UK and Spain.

This collaboration ensures clients receive:

  • Clear guidance on the most suitable visa type
  • Professional support throughout the application process
  • Ongoing assistance with matters such as Spanish state pension queries

For full transparency: we do not accept commissions or referral fees from these lawyers. Our priority is that clients receive accurate, high-quality advice.

 

Highly Qualified Professional Visa – Spain

By Barry Davys
This article is published on: 10th December 2025

10.12.25

The Highly Qualified Professional Visa is designed for non-EU professionals with specialist skills who have been recruited to work in Spain, particularly in high-demand sectors such as technology, engineering, and research.

If you are based in Barcelona or the Costa Brave region or are thinking of moving to Spain, please click here to contact Barry
If you are based in another country and would like to talk to an adviser, please click here

Key Requirements

  • A job offer from a Spanish company approved for “highly qualified” roles, along with suitable qualifications or professional experience.
  • Minimum annual salary of €40,100 to demonstrate highly qualified status.
  • Visa validity of up to three years, renewable for an additional two years.
  • Eligibility to apply for the Beckham Law reduced tax regime.
  • Applications can be submitted online in Spain by the employer (with fast-track processing, often within 20 working days) or via the Spanish Consulate in the UK if applying from abroad.

Understanding the Financial Impact of Your Move to Spain

Securing your visa is a major milestone — but it’s equally important to understand how relocating to Spain will affect your finances.

Many applicants ask whether they can join the Beckham Law while on the HQP Visa, and what this could mean for their tax position. While the well-known 24% tax rate on employment income up to €600,000 is widely published, there is another significant benefit that can substantially reduce your tax bill for the entire five-year duration of the scheme.

At The Spectrum IFA Group, our advisers are both professionally qualified and personally experienced in moving to and living in Spain. We help clients understand how to structure their finances efficiently from day one.

Additional Resources

HQP Visa not suitable? View other visa options for British nationals.

Working With Trusted Visa Specialists

Working With Trusted Visa Specialists

While we are experts in financial planning, we are not visa specialists. For immigration matters, we work closely with Klev & Vera, a Barcelona-based law firm led by managing partner Anna Klevtsova, who holds degrees in International Law from both the UK and Spain.

Our collaboration ensures clients receive clarity on:

  • Which visa type is most appropriate
  • Assistance with the application process
  • Ongoing matters such as state pension queries

For transparency: we do not receive any commission or fees from these lawyers. Our priority is that clients receive accurate, reputable advice.

The Beckham Law – Key Rules

You may be able to reduce your tax burden by opting to be taxed under the special non-resident tax regime (Beckham Law) if you meet the following conditions:

  1. You have not been a tax resident in Spain in the last five years.
  2. You apply for the new Beckham regime within six months of arrival.
  3. You become resident in Spain (typically by spending 183+ days per year in the country).
  4. The reduced rate applies for the year of arrival plus five full tax years.
  5. The first €600,000 of employment income is taxed at 24%.

Employment Criteria for the Beckham Law

You may qualify for the regime under any of the following employment structures:

  • New employment in Spain with an entity registered with the Spanish Tax Agency
  • Transfer to a Spanish entity while maintaining an existing employment contract
  • Remote work from Spain for a foreign employer
  • Appointment as a director of a Spanish entity
  • Self-employment (“autónomo”) in an entrepreneurial activity
  • Highly qualified self-employment providing services to startups
  • Self-employment in training, research, development, or innovation activities

Each pathway has specific requirements, so professional tax advice is essential to confirm eligibility before relocating. We work with specialist tax lawyers who can assess your circumstances — and again, we do not receive any form of commission for referring clients.

Digital Nomad Visa Spain

By Barry Davys
This article is published on: 8th December 2025

08.12.25

A residence permit for non-EU remote workers and freelancers who wish to live in Spain while working for companies outside the country.

If you are based in Barcelona or the Costa Brava region or thinking of moving to Spain, please click here to contact Barry
If you are based in another country and would like to talk to an adviser, please click here

The eligibility for the Digital Nomad Visa in Spain includes:

  • Available to employees of foreign companies, freelancers, or business owners working for clients outside Spain.
  • Proof of steady remote income (minimum around €2,200 per month).  If bringing your family with you this figure will rise.
  • Access to Spain’s public healthcare system and local services once registered. Once the person with the DNV is registered the rest of the family who come to Spain can register and will be covered for health care.
  • Apply online from Spain (processing time: about 20 working days) or in person from the UK (around 10 working days).
  • Visa valid for one year when issued abroad; residence permit valid for three years if applied from Spain, renewable for two-year periods.
  • If you work on a UK payroll, Spain-UK Bilateral Social Security Treaty covers the remote work; if you are an independent contractor, register as a freelancer-autónomo in Spain and pay your social security in Spain.

Your Visa is an important step for your move to Spain.  At the same time, it is very important to have an understanding of how your finances will be affected when you move to Spain.  For example, can you join the Beckham Law on the Digital Nomad Visa?    What will this mean for your financial position? Whilst the 24% tax rate on earnings up to €600,000 pa is the most posted part of the rule on the internet, there is another very important benefit.  This second benefit can hugely reduce your tax bill when moving to Spain and for the whole five tax years you are on the scheme,

At The Spectrum IFA Group in Spain, we are familiar with these opportunities both from our professional knowledge and our own experience of all our advisers having made the same move and who now live in Spain.

Moving to Spain

Case Study, How we helped a Spanish Tax Resident Couple  after they moved to Spain

Why a financial adviser is essential for expats living in Spain

Moving within 12 months and what find out more, book your call online at a time that is convenient for you.

The DNV not suitable for you? See all the other available Visas for Spain for British nationals here

Whilst we are experts in our own field, we readily admit we are not experts in Visas.  We, therefore, work with Visa lawyers at Klev & Vera, based in Barcelona. The firm is led by managing partner Anna Klevtsova with whom we have worked with for a number of years.  Anna has a degree in International Law from the UK and a Masters degree in International Law in Spain.

The result has been clarity for clients moving to Spain on what type of visa is right for them, help with applying for the visa and availability to deal with ongoing matters such as the Spanish state pension.

Non Lucrative Visa Spain

By Barry Davys
This article is published on: 2nd December 2025

02.12.25

A long-term residence permit for non-EU citizens who wish to live in Spain without working.

Popular with retirees and financially independent individuals seeking a new lifestyle in Spain.

If you are based in Barcelona or the Costa Brava region or thinking of moving to Spain, please click here to contact Barry
If you are based in another country and would like to talk to an adviser, please click here

Who could benefit from the Non Lucrative Visa (NLV) in Spain?

  • Ideal for retirees, early retirees, or financially independent individuals.
  • Proof of sufficient financial means ( income around €30,000/year for the main applicant and €8,000 per dependent).
  • Requires a private health insurance contracted in Spain.
  • Remote working, self employment or continuing to work for your UK employer are all NOT allowed with the NLV
  • How to apply for an NLV. Application is submitted in person at the Spanish Consulate in the applicant’s home country (not available from within Spain).
  • Processing time of up to two months; visa valid for one year and renewable for two-year periods.
  • Eligibility for permanent residency after five years in Spain and Spanish nationality after ten years.
Non Lucrative Visa Spain

Your Visa is step 1 of your move to Spain.

Also needed is an understanding of how your finances will be affected when you move to Spain.   At The Spectrum IFA Group in Spain, we are familiar with these changes both from our professional knowledge and our own experience of all our advisers having made the same move and who now live in Spain.

Moving to Spain

Case Study, How we helped a Spanish Tax Resident Couple  after they moved to Spain

Why a financial adviser is essential for expats living in Spain

Moving within 12 months and what find out more? Book your call online at a time that is convenient for you.

The NLV not suitable for you? See all the other available Visas for Spain for British nationals here

The Spectrum IFA Group in Spain assists individuals, employees and families moving to Spain with all financial aspects of their move.  It starts with what actions are beneficial to take before you come to Spain and what needs to wait until you are resident in Spain. From the vital planning, how to save when in Spain, how to manage your tax on your savings, pensions in Spain and even, how to best manage currency transfers from the UK to Spain.

What is a présent d’usage and how can it be used?

By Victoria Lewis
This article is published on: 27th November 2025

27.11.25

A présent d’usage is a customary gift given on a special occasion and of modest value, in proportion to the donor’s wealth and income.

In plain terms, it’s a gift made for a particular event – like a birthday, wedding, graduation, Christmas, or another significant celebration – and it must not be large enough to affect the donor’s financial situation.

If you are based in the Provence Alpes & Cote d’Azur region or thinking of moving to France, please click here to contact Victoria
If you are based in another country and would like to talk to an adviser, please click here

If those two conditions are met, the gift is not subject to gift tax and does not need to be declared.

Legal definition and principles:

French law doesn’t specify a fixed euro amount. Instead, courts and tax authorities judge “modest value” relative to the donor’s means.

Key references:

  • Article 852 of the Code civil
  • Article 784 of the Code général des impôts (CGI)
  • Various rulings of the Cour de cassation (French Supreme Court)
  • The tax administration (BOFiP-ENR-DMTG-20-10-20-10 § 10) says that the assessment depends on: “la fortune du donateur et les usages” — the donor’s wealth and customary practice.
Common examples of “présents d’usage

Common examples of “présents d’usage”

Event + Typical acceptable gifts (if proportionate)

Birthday or Christmas: A few hundred euros, watch, jewelry, small artwork

Wedding: A few thousand euros if donor is wealthy, smaller if not

Graduation / birth of a child: A symbolic sum or piece of jewelry

Religious events: Usually modest cash or gift

When it stops being a “présent d’usage”:

The gift ceases to qualify and becomes a taxable donation if:

  • The value is disproportionate to the donor’s income or assets.
  • It’s not linked to a special occasion.
  • It’s intended to transfer wealth permanently (not symbolic).
  • The donor gives multiple large “presents” that together look like a disguised donation.

If the tax administration audits and decides it’s really a “donation déguisée,” they can requalify it and apply the 60% gift tax (if between non-relatives).

Practical rule of thumb.

French notaires

French notaires often say:

A gift of no more than 1–2% of the donor’s net worth or a few weeks’ income will usually be accepted as a présent d’usage, provided it’s tied to a genuine occasion.

There’s no official threshold — it’s all about proportion and context.

  1. Principle

As noted earlier, there’s no fixed ceiling — it depends on whether the gift is modest relative to the donor’s wealth and income and is tied to a special occasion (birthday, wedding, graduation, etc.).

For guidance, notaires and tax authorities often use informal rules of thumb when advising clients.

  1. Typical “reasonable” range (for €500,000 income)

If the donor earns about €500,000/year and has assets consistent with that income, a gift of roughly 1–2% of annual income would often be viewed as proportionate for a major occasion.

That works out to:

€5,000 to €10,000 for a standard event (birthday, graduation, wedding present, etc.)

Possibly up to €20,000 or so for a very special event (e.g. child’s wedding, milestone anniversary) — but that’s at the high end and should clearly match the occasion.

  1. Key conditions to stay within “présent d’usage”

To keep it safely tax-free:

Occasion-based: The gift is clearly tied to a socially recognized event (wedding, birthday, graduation, etc.).

Proportionate: It doesn’t change the donor’s lifestyle or deplete assets.

Customary: It’s the kind of thing people of similar means might reasonably give.

Documentation: It’s helpful to note (privately) what the occasion was and the donor’s income level, in case of audit. There’s no need to declare it if it’s truly a présent d’usage.

  1. When to get advice

If the amount goes well above 2–3% of income (say, >€15,000–€20,000 on €500,000 income) or there’s no special occasion, a notaire or fiscaliste should review it. The tax office could otherwise requalify it as a donation taxable at 60% (for non-relatives).

Tax and Financial Webinar Portugal

By Portugal team
This article is published on: 25th November 2025

25.11.25

Tax & Financial Webinar in Portugal

Tuesday 2nd December
10.30am-12.30pm

Tax and Financial Webinar Portugal

With so much changing, this is your chance to understand how the latest announcements may affect your tax position, investments, and future planning.

Whether you are already living in Portugal or looking to make the move, our webinar will provide valuable insights.

During this live webinar you will gain a clear understanding of Portuguese resident tax and financial planning opportunities, hear expert commentary on global and UK investment markets, receive a breakdown of the post-26 November UK Budget implications, and have the opportunity to take part in an interactive open Q&A session with our panel of specialist guest speakers.

The webinar will cover the same content as our in-person seminars we held in October, plus an update on the UK Budget being announced on 26th November.

SIGN UP FOR THE WIBINAR HERE

With special guests

utmost wealth solutions

Our services include:

Tax planning

Efficient tax planning is about ensuring you pay the right amount, in the right place.
Many people have income arising from many different jurisdictions, whether that be rental, pension or investment income, and each will be treated differently and may even be taxable in different jurisdictions. Even if you believe your situation is relatively simple, there are always planning opportunities and pitfalls as an expat, so it is best to take qualified advice.

We can advise on effective tax-saving structures in your country of residence, restructuring for improved tax efficiency and tax-saving opportunities, whilst ensuring fiscal compliance.

Investments

How you hold and structure your wealth can impact how you are taxed on your investment returns, but personalised investment advice is also very important. It must be looked at in the wider context of your total asset base, financial goals, tax residency, your attitude to risk and capacity for loss.

You should also regularly review your investment strategies to ensure ongoing suitability, not only because of the ever- changing nature of investment markets but also because family and personal circumstances change, as well as one’s attitude towards investing. For example, you might be more risk-averse as you near retirement, or you may need to plan for future income or lump sums.

We are supported by internal and external investment specialists and can advise on the most appropriate investment strategy for you and work with you over time to help reach your financial goals.

Pensions

There is more choice than ever for individuals in respect of their pensions and getting your planning right is critical, as it can have far-reaching consequences.

We are qualified to advise on UK and offshore pension schemes and can offer a wide range of solutions to ensure that your pension planning is right for your retirement goals, lifestyle and country of residence.

Succession planning

Succession planning is decidedly more complicated in Europe, as each country has different rules. These rules not only affect the level of taxation, but who can receive your estate, who pays the tax, and what assets attract tax.

Additionally, many individuals do not realise that they might still have a UK inheritance tax consequence even if they have been living abroad for many years.

We are best placed to look at your position from a multi-jurisdictional perspective, ensuring that your wealth is passed to your loved ones in a simple, controlled and tax-efficient manner.

Trust planning

Trusts are commonly used by families to preserve and protect wealth, and in succession planning.

There are many types of trust and corporate structures and the right one for you and your family, if at all, will be dependent on several factors. Additionally, choosing independent, experienced trustees is also extremely important.

We can guide and advise you on new and existing trust and corporate structures, and their suitability for your personal and family goals.

The UK Autumn Budget

By Barry Davys
This article is published on: 24th November 2025

24.11.25

What you need to know

On 26th November 2025, the Chancellor of the Exchequer, Ms. Rachel Reeves, will present the Autumn Budget to the House of Commons. While some minor changes, like an increase in taxes on spirits, might take effect immediately; most changes won’t be implemented until later.

If you are based in Barcelona or the Costa Brava region, or thinking of moving to Spain, please click here to contact Barry
If you are based in another country and would like to talk to an adviser, please click here

Despite this, the media will extensively cover the Chancellor’s statement on the day, often without clarifying that the proposed changes won’t take effect right away. You’ll likely see numerous articles, podcasts, webinars, and briefings discussing the Budget, based on the announcements made in Parliament. However, it’s important to be cautious before acting on these updates.

Understanding the Budget Process

The UK Parliamentary Commons Library defines the Budget as follows:

“The Budget is a statement made by the Chancellor to MPs in the House of Commons, presenting the government’s plans for the economy, including changes to taxation and spending.”

This is key because the Budget is just a statement of intent – not a law yet. Before any proposed changes become law, they go through several stages:

  1. Debates in the House of Commons (over four days).
  2. Debates in the House of Lords.
  3. The Finance Bill 2025 is then presented to Parliament.
  4. If Parliament votes in favor, the Bill becomes an Act of Parliament and the changes become law.

This process means that the initial announcements made in the Budget are still subject to change before they are finalized.

What Should You Do?

If the Budget includes a tax rise on whisky or similar immediate changes, it’s fine to take action before the increase goes into effect. However, for more complex changes (like pension reforms, stamp duty adjustments, income tax rates, and changes to ISAs), it’s wise to wait until the Finance Bill 2025 becomes law.

It’s important to remember that the Budget announcements are only the starting point. During the parliamentary readings of the Bill, amendments can be made—sometimes significant ones. In fact, in 2025, the media suggests there could be notable opposition from even the government’s own MPs, meaning the final law may differ substantially from the initial Budget statement.

Making financial decisions based on the Budget before the Bill is passed into law could lead to costly mistakes that impact your finances for years to come.

What next should you do?

To avoid acting on speculation, it’s best to let the media buzz die down after the Budget. The real, final changes will become clear in the Finance Act 2025, at which point you can make decisions based on confirmed facts.

If you’re living in or moving to Spain, and want advice on how the 2025 UK Budget might impact your finances, feel free to book a consultation at a time that works for you using our online booking system.”

How will artificial Intelligence change your world if you are retired?

By Jeremy Ferguson
This article is published on: 22nd November 2025

22.11.25

Artificial intelligence (AI) is transforming everyday life, but its impact on retired people is often overlooked. If you are still at school and looking towards a career, then the landscape will be changing forever, with many jobs disappearing.

If you are based in Costa del Sol or thinking of moving to Spain, please click here to contact Jeremy
If you are based in another country and would like to talk to an adviser, please click here

Just as the Industrial revolution replaced the body in the workforce, AI looks like it will be replacing the mind in much of the workforce. It is actually quite a scary thought. However, for those no longer in the workforce, AI is not a threat, quite the opposite, it will be a valuable tool.

Artificial intelligence (AI) is transforming everyday life

AI-powered assistants will have a huge influence in the world of medical research, analysing huge amounts of data in no time at all, helping advance research and the resultant remedies. As a result of all of this, life expectancy and quality of life will both improve.

AI-supported health tools can help monitor vital signs, remind users about medications, and assist with telehealth visits. These innovations will help support independent living by helping retirees manage health concerns and issues more easily and proactively.

With AI, lifelong learning becomes more accessible than ever. Retirees can explore history, languages, technology, creative writing, or any area of curiosity. AI tutors adjust to individual learning styles and answer questions in plain language—without pressure, deadlines, or classrooms. I know a number of people who have subscribed to an AI language school, talking and practising Spanish with a ‘virtual’ person for 15 minutes each day. This can be done whenever suits them, and from the comfort of their own home, rather than being tied to a certain class time each week.

AI tools make it possible to create artwork, write stories, restore old photos, or design family history projects—regardless of technical skill. Many retirees use AI to capture memories, organize family archives, or create meaningful keepsakes for loved ones. Rather than replacing creativity, AI enhances it.

It can also help retirees stay in touch with family and friends by simplifying video calls, drafting messages, translating languages, and explaining new apps. This support can help reduce the feeling of being left behind in a fast-moving digital world.

AI is possibly redefining retirement as a stage filled with new opportunities—for learning, connection, creativity, and independence. For those willing to embrace it, AI offers a more empowered and engaging future.
As with any change, embracing it rather than avoiding it can often be the best way forward.

Living longer and being more active in retirement will mean the pensions and investments we have will need to last longer, so ongoing regular reviews and careful management will become ever more important. This is becoming an ever increasing part of my relationship with clients and if this is something you feel I can help you with, please feel free to get in touch.

UK bank & savings protection

By Victoria Lewis
This article is published on: 21st November 2025

21.11.25

Deposit limit protection increase

From 1 December 2025 the Financial Services Compensation Scheme (FSCS) deposit protection limit will rise to £120,000. This means that if you hold deposits or savings with a UK-authorised bank, building society or credit union and it goes out of business, FSCS will compensate you up to the new limit of £120,000 per eligible person, per authorised firm.

If you are based in the Provence Alpes & Cote d’Azur region or thinking of moving to France, please click here to contact Victoria
If you are based in another country and would like to talk to an adviser, please click here
UK bank & savings protection

The FSCS also covers temporary high balances, which will also rise from December, of up to £1.4 million. These may occur from major life events, such as selling a home or receiving an inheritance. Temporary high balances are protected for up to six months.

There are some details to be aware of:

  • The additional compensation limit is per person, per qualifying life event. For joint accounts with a temporary high balance, each named person benefits from FSCS protection of up to £1.4m.
  • The protection begins on the date the money becomes legally transferable to you, or from when it is first credited to your account (or to a solicitor’s client account for onward payment to you). You can move the funds to another account in your name and maintain the protection, but the six-month period would not begin again.
  • Proceeds from the sale of second homes or buy-to-let properties are not covered. If your temporary high balance exists because of a real estate transaction, it must relate to your main residence for FSCS protection to apply.
  • Compensation is unlimited for temporary high balances that relate to personal injury, disability or incapacity claims.
  • FSCS will pay compensation when certain requirements set out by the UK’s financial regulators are met.

Qualifying life events and evidence required

A range of life events could create a temporary high balance in your bank account, including:

  • Real estate transactions (property purchase, sale proceeds, equity release – this doesn’t have to be a UK property but must relate to your main residence).
  • Benefits payable under an insurance policy.
  • Personal injury compensation.
  • Disability or incapacity (state benefits).
  • Claim for compensation for wrongful conviction.
  • Claim for compensation for unfair dismissal.
  • Redundancy (voluntary or compulsory).
  • Marriage or civil partnership.
  • Divorce or dissolution of a civil partnership.
  • Benefits payable on retirement.
  • Benefits payable on death.
  • A claim for compensation in respect of a person’s death.
  • Inheritance.
  • Proceeds of a deceased’s estate held by a personal representative.

 

To verify the source of funds for a temporary high balance, the FSCS may ask for evidence which could include (but not be limited to) the following: 

  • A property sale receipt or agreement.
  • A court judgement.
  • A will.
  • A letter from an insurer regarding an insurance payout.
  • A letter from a lawyer, conveyancer, mortgage provider, former employer, or pension trustees.
  • Court orders.
  •  Social security statements.
  • Probate / letters of administration.
  • Death / marriage certificate.
  • Land registry and HMRC records.

 

This list isn’t exhaustive, and the evidence needed will depend on your individual circumstances. If you provide the relevant supporting evidence and your claim is eligible under FSCS rules, compensation is payable within three months.

Why are the limits being increased now?   

The previous protection limit was established in 2017, when the UK was a member of the EU. Following Brexit, regulatory control has returned to the UK, whilst inflation since 2017 has reduced the real value of the original limit. As a result, the FSCS has increased the protection level to ensure it remains equivalent in value to that provided in 2017.

While this increase is welcome, maintaining substantial cash balances in a bank account is generally not advisable over the medium to long term. We would be pleased to advise you on tax-efficient investment options for any surplus deposits you may hold.