Being prepared for BREXIT in France

By Katriona Murray-Platon
This article is published on: 11th March 2020

On 31st January 2020, the UK left the EU. However, the real effects of Brexit, for those of us living in France, will not properly be felt until after the 31st December 2020 (what an interesting New Year’s Eve that will be!) and thereafter. Hopefully, by that time we will have a clearer idea of what our rights and responsibilities are. Until then there will still be much speculation and media noise, which may be just as confusing as it has been over the past four years.

One thing Brexit has established, from the very beginning, is that British citizens living in France, or planning to settle in France, need to get their affairs in order and decide where they would like to live for the foreseeable future. As British citizens we can always return to the UK if we so choose, but if we want to continue to live in France we must show that we have lived here continuously for the last five years or that we intend to continue living here in future.

The next few months are going to be very interesting and it is more than ever important for British citizens to consider some important financial changes.

Pensions after Brexit
In 2006, the UK introduced a law making it possible for UK private pension benefits to be transferred to a Qualifying Recognised Overseas Pension Scheme (QROPS), provided that the overseas scheme meets certain qualifying conditions.

For those pensions that can be transferred there are many benefits including:

No obligation to purchase an insurance company annuity, at any time
The potential to pass on the member’s remaining pension assets to nominated beneficiaries on death with minimal or no death duty payable. By comparison, currently a tax charge at the beneficiary’s marginal rate can be applied in the UK, where the member is over age 75 at death
A wider choice of acceptable investments offered, compared to UK pension plans
The underlying investments and income payments can be denominated in a choice of currencies, which can potentially reduce exchange rate risk
Potential to receive a larger amount of Pension Commencement Lump Sum compared to UK schemes
Depending upon the jurisdiction where the QROPS is set up, income payments may be made without the deduction of local taxes, meaning that income will only be taxed in accordance with the law of the jurisdiction where the member is resident

In 2017 the UK government announced its intention to introduce a new 25% Overseas Transfer Charge (OTC) on QROPS transfers taking place on or after 9th March 2017. This charge does not, however, apply where the QROPS is in the European Union (EU) or EEA and the member is also resident in an EU or EEA country (not necessarily the same EU or EEA country) and remains EU or EEA resident for the next five full UK tax years.

Many of those who work in the industry believe that after the transition period, it may no longer be possible for British citizens to transfer their pensions into an EU QROPS without incurring the 25% charge.

QROPS may not be suitable for everyone and much will depend upon the nature of the UK pension benefits being considered for transfer, as well as the person’s attitude to investment risk. Transferring a pension to a QROPS is not a decision that should be taken lightly nor in haste and proper financial advice with an experienced adviser is essential. Even when the decision has been made to transfer the pension it may take a good few months to complete, which is why, if you are even considering this possibility, it is important to contact a local adviser to explore what your options are.

Taxes after Brexit
As tax between the UK and France is determined by the Double Tax Treaty, this will not be affected by the fact that the UK has left the EU. However, whilst not directly taxed, a lot of UK income, such as UK rental income, is added to the taxable base and increases the tax margin of the French taxpayer. If you intend to live in France, you may want to consider whether it is really in your interest to hold onto UK assets.

It is possible to protect your capital investments in France and ensure that they can grow in a tax efficient environment by way of an Assurance Vie policy. French Assurance Vies or French approved foreign Assurance Vies offer valuable benefits when it comes to income tax, inheritance tax and estate planning. Foreign portfolios and bonds are not treated as Assurance Vies and any gain is subject to tax and social charges irrespective of whether this income is taken or whether it is brought into France. If you are French tax resident, you are taxable on your worldwide income in France. Proving that you are French tax resident will be an important factor for establishing the Right to Remain in France.

Being resident in France does not necessarily mean that all your assets have to be in France or have to be in euros. There are many opportunities for holding sterling based diversified portfolios in a tax efficient manner.
For anyone intending to live in France for the foreseeable future, be aware that today’s valuable financial planning opportunities are unlikely to remain beyond the short term (31st December 2020 could be an important date in this respect). Contact me, Katriona Murray, and I will be happy to arrange a meeting.

Stay Safe

By Gareth Horsfall
This article is published on: 11th March 2020

11.03.20

As I write this E-zine financial markets are entering free fall due to the events surrounding coronavirus in the last few weeks, no more so than in Italy.

It certainly seems a very difficult and strange time to be living in, and clearly is spooking the financial sector. However, in this E-zine I want to offer some rational thought about this and why this is neither a time for panic nor something that we should think is out of the ordinary. It is certainly unprecedented from a health point of view and I hope you can remain safe during this time, but it is just another ‘unpredictable’ event from the perspective of our money and will have the short term effect of scaring investors.

We should all think back to the events of 2008 / 2009 and remember the thoughts and feeling we had when the world’s media told us that we were heading into a financial crisis of unforeseen proportions and that Armageddon would prevail. This is no different, from a financial point of view, and should be thought of no differently. It will throw up opportunities for those who are sitting on cash and should be a time of reflection and restraint for those of us who are fully invested.

I would like to add that I do not wish to minimise the effects of this virus in any way. I understand that there could be many at risk, myself included: I have suffered from asthma all my life, and we also have members of the family who are at very high risk of developing severe problems from the virus if everything we are to believe is true.

Equally, what I am about to write should in no way be taken as a conspiracy theory and born out of superstition. I am going to write based on historical facts and reflect on the behaviour of humans. We have tended to exhibit and repeat the same patterns of behaviour in very similar circumstances throughout history.

EXTRAORDINARY POPULAR DELUSIONS AND THE MADNESS OF CROWDS
This is the title of one of my favourite books written in 1841 by author Charles Mackay.

It is one of my favourite reads because it is a historical account of the typical behaviour that we. as humans, exhibit

repeatedly. There are many examples throughout history, which are discussed in great detail in the book and which I will come to in a moment, but let me ask you:

Just because all the governments around the world, all the doctors, all the councils and all the media say that coronavirus could be the greatest threat to mankind, does this make it true?

This might seem a rather provocative statement to be making, but it does bear thinking about for a moment. Some suggest that the coronavirus may be no more serious than the regular flu, although some estimates suggest it may be worse. The facts to date cannot prove either way. Clearly, given that we have no idea how it will manifest itself, it makes sense to adopt urgent measures but it may turn out to be no more than another SARS / MERS/ Ebola (interestingly Ebola virus kills 9 out of 10 people who get infected, but the alarm over that was nowhere near the panic over coronavirus). In addition, we have had panic surrounding mad cow disease, swine flu and avian flu. None of these have gone on to prove to be any more than a passing moment of concern and affected a small proportion of the population overall.

The book I have mentioned above is well worth reading, if you have the opportunity, and explains how as humans, we tend to exhibit behaviours which reinforce one another. In our case, the government creates the alarm, therefore the doctors must respond with equal alarm and response / preparation ( they are afterall paid by the government), the media equally react in an alarmist way because it helps them to sell their services, the people become alarmed and start stock piling because they fell under threat. The problem is that is is now hard, in a communal state of panic or enthusiasm, for one to stand out and say ‘maybe this is not the case’, because they are ostrazied or ridiculed and called out for being unreasonable.

But don’t just take my word for it.
Let’s look some of the evidence:

GREAT RECESSION 2008 / 2009

Merely 10 years ago we had a very similar experience, when financial markets collapsed after the bundled mortgage debt crisis that led us into the crash of 2008 / 2009. However, isn’t it interesting that leading up to this crisis, economists and central banks told us that the world was in permanent state of growth and could likely maintain 3% per annum; estate agents told us that property prices would keep on rising; even banks and financial institutions believed the hype and continued to offer highly risky investments to risk averse investors because they believed that stability was the new norm:

The Guardian 30th January 2007: Still going through the roof – the property boom goes on
Fortune 500: July 12th 2007: The greatest economic boom ever
Harvard Business School: 27th December 2007: Chimerica’ and the Global Asset Market Boom

No one could challenge the norm at the time, for fear of being branded the one who wanted to end the status quo. The same logic applies to financial exuberance as it does to fear about a global pandemic. Just because everyone says it will be this way doesn’t necessarily mean it will be (if you haven’t seen the film, ‘The Great Short’, then I would suggest it as a great example of the treatment of those who go against the masses).

TECH BOOM 2000

For those of you with a memory of the events surrounding the financial market collapse of 2000, you might remember that running into the collapse we were told that the internet would change our lives forever and in ways that we could not imagine. The theorists were absolutely right. But unfortunately, they had not thought to add a timeline to that prediction. Financial market exuberance took over followed by collapse. At the time economists, central banks, financial institutions and pundits in the media bought into the same rhetoric, that the internet would reshape our lives immediately. Little did they know that it would take about another 10 years for the effect to happen. Just because everyone says it will be this way doesn’t necessarily mean it will be.

WITCH MANIA

In the mid 1400’s Europe was fixated with the idea that every calamity that befell a person was the cause of a witch. Here is a passage from the book:

“But in the early days of ‘little knowledge’ this grand belief because the source of a whole train of superstitions, which in their turn, became the fount from whence flowed a deluge of blood and horror”.

The writings are not a million miles removed from the fear surrounding coronavirus. In this case, just because everyone said it was true didn’t mean it was. More horrendous is that those who challenged the belief were deemed to be witches themselves and didn’t live to see their reality come true.

THE CRUSADES

I won’t go into the historical account of how the Crusades came about, but we can reflect on a passage from the book, which in some ways mirrors what we see today:

” Fanaticism and the love of battle alike impelled them to war, while the kings and prices of Europe had still another motive for encouraging their zeal (in the case of the Crusades it was money and land grab). Policy opened their eyes to the great advantages which would accrue to themselves…….Thus every motive was favourable to the Crusades. Every class of society was alike incited to join or encourage the war; kings and the clergy by policy, the nobles by turbulence and the love of dominion, and the people by religious zeal……skillfully directed by their only instructors”.

POPULAR FOLLIES OF GREAT CITIES

This phrase is to illustrate the power of the word to spread far and wide and for superstition and hypothesis to become fact:

“And first of all, walk where we will, we cannot help hearing from every side a phrase repeated with delight……by men with hard hands and dirty faces – by saucy butcher lads and errand boys – by loose women – by hackney coachmen, cabriolet drivers, and idle fellows who loiter at the corners of streets….it seems applicable to every circumstance, and is the universal answer to every question; in short, it is the favourite slang phrase of the day, a phrase that, while its brief season of popularity lasts……throws frolicsomeness over existence and gives them motivation to talk as well as their more fortunate fellows in a higher stage of society”.

MONEY MATTERS

So, to bring the subject of this E-zine back to money matters for a moment I would like to write that what we do and how we act now is of utmost importance to the long term health of our personal finances.

Most people will be in one of two situations right now. The first are those who, for whatever reason are sat on cash which available for investment. Whilst financial market collapses might seem the worst time for investment they are quite the opposite. They are the greatest opportunities. The opportunity to see substantial gains on investments when the volatility settles. It is in no way easy to invest when market indicators are all red and the financial media are professing Armageddon, but they are wrong. I know this from experience because I had the fortune to have some cash in 2008 when the financial crisis happened. You have to get through the volatility and the psychological reluctance, but long term returns on most assets during these times are substantially greater than at other times.

However, a word of caution. Financial crises can create imbalances in certain sectors. It is wise not to just jump into any asset during this time, but to invest in a well balanced portfolio based on your own attitude to investment risk.

The other class of investor is those who are fully invested (I include myself in this category). We are investors who have been invested and should remain invested during these periods (not accounting for anyone who must disinvest because of cash needs). Panic is not an option. Level headedness must prevail. And if you are unsure of what to do then you can always pick up the phone and speak with me. This is my 5th financial market crash in my career. I have coached many clients through periods like these and suspect I will have to coach many more, so if you are in doubt then please do get in touch and we can talk about how it affects your personal situation.

If you are a client who has invested capital through one of our selected group of asset managers then please feel comforted that they have everything under control and have made provisions for these unforeseen events (i.e. investing a proportion of the assets in gold and other low volatility safe haven assets). What we are going through is quite normal and I suspect will be something we look back on with great interest in the not so distant future. In the meantime, if you yourself, or anyone you know is at risk from the virus please take all measures to stay safe.

Do I need to declare my UK bank accounts?

By Amanda Johnson
This article is published on: 10th March 2020

10.03.20

Yes, you do. In a drive to reduce tax evasion and ensure transparency as to where money comes from, banks are now required to share details of overseas accounts, if asked by another country’s tax authorities.

All UK bank and savings accounts need to be declared on your French Tax return. You also need to declare if you have opened or closed any accounts during the last tax year.

Any interest that you have received on these accounts must also be declared. The penalties if you are found to have not declared accounts are very stiff, at up to €1500 per account.

In France, there are tax efficient savings accounts called Livret A and you can save up to €22,950 per person. The interest is not subject to French income tax or social charges and it is a perfect account for an emergency fund because you have access to this savings account without a notice period. For money that you can put aside for a longer period, it is worth getting in touch with me to discuss whether an Assurance Vie would be suitable for your needs.

Whether you want to register for our newsletter, attend one of our road shows or speak to me directly, please call or email me on the contacts below & I will be glad to help you. We do not charge for reviews, reports or recommendations we provide.

Stock markets falling, should I sell?

By Charles Hutchinson
This article is published on: 6th March 2020

06.03.20

There are four big subjects dominating the public arena at present: life after Brexit, life after the coronavirus, life after climate change, life after the dramatic falls in the global markets.

We live in an interdependent world where news is instant across all continents (although I’m not sure whether the penguins are interested). We are aware of climate change, the antics of Widow Twanky Trump, the spread of the coronavirus and Brexit (an outdated game in which the British people have kicked off in the hope of a repeat performance of their imperial past). Hopefully we have taken onboard the catastrophy of climate change in time (not Widow Twanky, yet) before we are reduced to a desert of Mars proportions. Hopefully the coronavirus threat is a storm in a teacup. Hopefully Brexit will work out. These are all uncertainties – except one: the global stock markets.

All life is cyclical; this is enshrined in history. Take any historical event of extreme proportions; the pendulum will at some point begin to swing back the other way. The only possible exception I can think of is the reincarnation of the Dinosaurs and the Dodo. There will be other tyrants, exterminations, plagues and climate changes at some point; but in our lifetime at least you can depend on the markets bouncing back. Why? As I have described in other articles, the markets are like the tides, they come in and they go out. The sea does not disappear over the horizon in a great hiss of steam into the sunset. Money has to have a home and it is to the markets, at the end of the day, that money’s guardians largely turn. In a post apocalyptical world, bartering will still continue, even if it is with seashells and potatoes. Money is merely the lubricant of trade, whether it be between you and I or corporations or countries.

Believe it or not, the professional market traders relish market falls (or corrections, as they call them) because it presents them with the buying opportunities which are needed to make money. The falls are caused by a mixture of inexperienced emotional investors and market makers (to create the buying opportunities). What is sure now is that markets will move up again and it might be sooner than expected. No person, company or country can stay in lock down for long. We have to eat and carry on our normal lives. Sooner or later, a cure for COVID-19 will be found (they announced yesterday promising results with HIV and Ebola antiviral drugs). The old may be vulnerable, but they don’t need to go out to work, tilling the fields or driving the engines of manufacturing. They are mostly at home enjoying a good rest after a lifetime’s toil. So with a bit of care we may be able to keep them protected until the virus burns itself out.

The lesson is clear: stay invested, or if you are a little brave buy into these low levels to enjoy a potentially better return and maybe average down (don’t commit all your spare investment capital at once but buy into the falling markets in stages to increase the odds of buying near the bottom to increase your potential profits).

Remember, Spectrum does not risk our clients’ hard earned capital. We just know the tide will come in again and as long as we are in sound and sturdy boats (investment funds), it will take everyone back up the beach to new heights. Spectrum chooses fund houses for their experience and expertise, some of whom have been around for more than 200 years. It is their fund managers’ job to react to world events on a daily basis. We use them to protect our clients’ money. We arrange for our clients to access these superb funds through structures called Investment Bonds (or Insurance Wrappers) which are Spanish compliant and which offer unparalleled security (against corporate collapse) and low taxation with both income tax in Spain and the UK and also inheritance tax in Spain.

If you would like to talk to me more about this subject and the points raised, please contact me as per below and I would be happy to discuss this further.

Moving to Spain – When should I take financial advice?

By David Hattersley
This article is published on: 2nd March 2020

02.03.20

For the majority of those who move to Spain, speaking to a qualified financial adviser, who is regulated where you plan to live, is something which happens after you have made the move. But, talking to one before you embark on the journey can help avoid some of the issues that expatriates can find themselves encountering.

Many UK based advisers are not fully regulated to offer advice for Spain and may not be aware of the most current regulations or tax efficient solutions for your needs. A Spanish regulated adviser can ensure you are financially prepared for your move in terms of any investments, savings and taxes which can be due on both income and windfalls you may be expecting after your move. A local adviser will also be able to clarify the potential impact of Spanish succession tax.

An additional complication in Spain is the variety of laws in each autonomous area. The classic example is the differing laws between Andalucia, Murcia & Valencia, so it makes sense to deal with a regulated adviser who is based in or near the autonomous area you are moving to.

Many people buy in Spain with plans of using their new Spanish property to retire to, either now or eventually. If it is the latter, in the interim period the property may be used to produce rental income, either via summer rentals or long term rentals, so there will be tax considerations. Depending on how long you are planning on living in Spain each year, residency may also become an issue. When holding property both here and in the UK, “Cross Border” regulations and differing types of tax are applicable to each country. Having a “Partner“ relationship brings its own complications.

Everyone’s situation is unique and there is no single ‘recipe’ that we can give to navigate buying a property in Spain. A regulated local adviser has no vested interest in which property you buy, yet will have a long history of experience of the path you are undertaking and will be able to help you create a plan to fit your own specific circumstances.

Investing an hour of two of your time to go over your project with an adviser before you make the move to Spain can provide direction, peace of mind and financial comfort when planning your new adventure. Rules and regulations can change. The potential impact of Brexit provides an example of how quickly this can happen, so consider taking action sooner rather than later.

Why don’t you contact me to arrange a free, no obligation discussion of your plans – either you will get confirmation that everything is in order, or perhaps some points will come up that you hadn’t thought about. Please call or email me on the contacts below & I will be glad to help you. We do not charge for reviews, reports or recommendations that we provide.

Save Thousands in Gift and Inheritance Tax in Spain

By John Hayward
This article is published on: 27th February 2020

27.02.20

In Spain, you can transfer money or other assets to your children or grandchildren during your lifetime, but these transfers can be subject to gift tax. Tax on gifts in Spain is payable at the time they are made.

However, many autonomous regions have special tax allowances or deductions for these gifts. In the Valencian Community, for example, each child or grandchild could be eligible to receive €100,000 without attracting any gift tax, whereas the tax on €100,000, without any allowances, would be at least €12,000. Also, gifting an asset now will mean that any growth on that asset will be free of any future inheritance tax.

The same allowance is available on inheritance, which means each child can receive €200,000 of your wealth, tax free, saving many thousands in inheritance and gift tax.

Gifting your property whilst you still live it in it, with rights to remain, is another option which many people consider. Known as usufructo, children will inherit the bare ownership of the property, possibly paying some gift tax now, but freeing property from the estate when considering inheritance tax.

As with most things relating to Brexit, what will happen next year is not known publicly at the time of writing. Also, it has been suggested that gift and inheritance tax is about to change in Spain. Therefore, if you are thinking of gifting money, or other assets to your children or grandchildren, this might be an opportunity that will not be around for much longer.

Modelo 720 Reporting Time – 2020

By Chris Burke
This article is published on: 26th February 2020

26.02.20

Just a reminder that time is running out for submitting your Modelo 720 declaration for 2020. The deadline this year is the 31st March and is fast approaching.

All those tax resident in Spain (those living in Spain for more than 183 days a year or where Spain is the main base for your business) should be aware that as a result of legislation passed on 29th October 2012, residents in Spain who have any assets outside of Spain with a value of €50.000 (or alternative currency equivalent) or more, are required to submit this declaration form to the Spanish authorities.

This declaration can be made online, through the Tax Office`s web page www.agenciatributaria.es where the Modelo 720 formcan be located (type in Modelo 720 into the search block on the top right hand side of the page). It must be filed between January 1st and March 31st of the first year of residence to avoid being investigated or fined by the Spanish authorities. I would personally recommend speaking with your accountant / Gestoria to avoid mistakes.

To warrant a declaration the total value of assets should exceed €50.000 in each or any one of the categories; e.g. if you have 3 bank accounts and totalling up all the balances it exceeds the €50.000 limit you are subject to making the Modelo 720 declaration. However, if you have a bank account at €30.000 and, say, investments valued at €30.000 then there would be no reporting requirement as they are in separate categories and each individual total value does not exceed the €50.000.

A declaration must be submitted individually, regardless of the percentage of ownership (in joint accounts). For example, if you have a joint bank account with a value exceeding €50.000, although your particular (say €25.000) share is below the threshold, each owner would still be required to submit an individual declaration based on the total value of the account.

Although this declaration of assets abroad is solely informative and no tax is charged, failure to file, late filing or false information could result in fines.

For this reason, we recommend that everybody arranges to declare their assets. Once you have made your first declaration it is not necessary to present any further declarations in subsequent years, unless any of your assets in any category increases by more than €20.000 above the initial value declared.

Arts Society de La Frontera & Spectrum – Costa del Sol

By Charles Hutchinson
This article is published on: 24th February 2020

24.02.20

The Spectrum IFA Group again co-sponsored an excellent Arts Society de La Frontera lecture on 19th February at the San Roque Golf & Country Club on the Costa del Sol. We were represented by one of our local and long-serving advisers, Charles Hutchinson, who attended along with our co-sponsors Currencies Direct, represented by area manager Ignacio Ortega and Alexandra Derudder. Also present was the society’s European Chairman Jo Ward.

The Arts Society is a leading global arts charity which opens up the world of the arts through a network of local societies and national events throughout the world. With inspiring monthly lectures given by some of the UK’s top experts, together with days of special interest, educational visits and cultural holidays, the Arts Society is a great way to learn, have fun and make new and lasting friendships.

At this event, over 130 attendees were entertained by a talk entitled ‘John Singer Sargent, master of the society portrait’ by Mary Alexander, who is one of the UK’s top experts on this subject. She gave an excellent lecture which was highly informative and educational, opening up the artist’s world to show his versatility away from not just being a portraitist and his much travelled life.

The talk was followed by a drinks reception which included a free raffle for prizes, including a CH supplied lovely coffee table book on the artist, champagne and an elegant pot plant. Currencies Direct also supplied a presentation bottle of brandy.

All in all, a great turnout and a very successful event at a wonderful venue which has just been renovated throughout; looking through the windows, one can see the golf course completely dug up and redesigned.

The Spectrum IFA Group was very proud to be involved with such a fantastic organisation during its current global expansion and we hope to have the opportunity to do so again.

Advice before you arrive in Spain

By John Hayward
This article is published on: 21st February 2020

For the majority of those who move to a Spain, speaking to a qualified financial planning adviser, who is regulated and licensed in Spain, is something which generally happens after you have moved to Spain. It makes sense to understand the implications of moving to Spain in relation to existing investments and the taxes that come with those. Positioning one´s wealth correctly prior to moving can save thousands in unnecessary taxes.

Therefore, by talking to an adviser, especially one that has lived in Spain for more than 15 years and has experienced the life with his own family, before you embark on the journey can help avoid some issues which expatriates can find themselves encountering:

Many UK based advisers are not fully regulated to offer advice for those in Spain.

They are almost certainly of the most current regulations or tax efficient solutions for your needs, especially as the rules differ from one autonomous region to another.

A Spanish regulated adviser can ensure you are financially prepared for your move, in terms of any investments, savings and taxes which can become due on both income and windfalls you may be expecting after your move.

Tax free and favoured investments such as ISA´s, lump sums from pension funds, and Premium Bonds, are not tax free in Spain.

For those planning on using a property as the main source of income, an understanding of the overall cost and the Spanish taxes that property attracts is essential.

Making a Spanish Will, even if one has an English Will, is vital in order to make certain that wealth is distributed correctly.

Organising a funeral in Spain is a much quicker process than in the UK. For many the funeral is very traumatic if only for what needs to be organised, in Spanish. We can help you arrange a plan for you and your children to escape this trauma.

People overpay when it comes to currency exchange, many using their bank. What appears to be a free deal actually can cost you a lot of money. The exchange rate banks give can be way off the commercial rate. We can save you potentially thousands on your currency especially when you purchase or sell a property.

Investing an hour of two of your time before you make the move to Spain can provide peace of mind and financial comfort when planning a new adventure. We can help with all of the above, and much more.

Please contact me today to find out how we can help you. We do not charge for reviews, reports, or recommendations we provide.

Moving to France – When should I take financial advice?

By Amanda Johnson
This article is published on: 20th February 2020

20.02.20

For the majority of those who move to a France, speaking to a qualified financial adviser, who is regulated where you plan to live, is something which happens after you have made the move. But, talking to one before you embark on the journey can help avoid some issues which expatriates can find themselves encountering:

Many UK based advisers are not fully regulated to offer advice for France and may not be aware of the most current regulations or tax efficient solutions for your needs.

A French regulated adviser can ensure you are financially prepared for your move, in terms of any investments, savings and taxes which can become due on both income and windfalls you may be expecting after your move.

Many people come to France with plans of using their new French property to run a business. A French regulated adviser can compare your anticipated return on investment to that from tax efficient, financial investments available.

For those planning on using the property as the main source of income, how you buy your property can have different benefits in terms of French tax rules.

A regulated adviser has no vested interest in which property you buy, yet has often a long history of experience of the path you are undertaking.

Investing an hour of two of your time before you make the move to France can provide peace of mind and financial comfort when planning a new adventure.