BRANDED CONTENT
Lullius Partners: The Mallorca-based Firm Leading Tax Advisory for Expats
Operating from its office in Palma de Mallorca, Lullius Partners has built a solid reputation for providing expert advice to international clients and high-net-worth individuals with complex tax needs
BRANDED CONTENT
Attention Non-Resident Property Owners in Mallorca
As the end of 2024 approaches, non-resident property owners in Mallorca need to prepare for a crucial obligation: filing their tax returns
How investment capital and income is taxed in Spain
An approved life assurance policy, where you hold your choice of investments within its ‘wrapper’, can provide tax advantages in Spain.
How does the UK budget affect expatriates?
Much of this reform affects foreign nationals living in the UK and their tax liabilities.
Do you need to submit a Modelo 720 this year?
Assets are valued using the wealth tax rules as at 31st December each year. For bank accounts you also need to declare the average balance over the last three months of the year.
Capital gains tax in Spain – part 2
Residents of Spain aged 65 and above are exempt from capital gains tax on property if it has served as your primary residence for over three years, even if you do not reinvest the proceeds.
Capital gains tax in Spain
When relocating to Spain or acquiring property here, you should familiarise yourself with the Spanish tax framework and proactively devise strategies to mitigate your tax obligations.
Resolve to review your financial planning for 2024
If you do not already have a financial plan in place for Spain, take a fresh look at your savings and investments.
Is 2024 the year you consider downsizing your property?
With today’s increased life expectancy, you may need your existing wealth to stretch long into retirement.
Pensioners sitting on a bench
Pensioners sitting on a bench.
Reduction of VAT for essential items such as fruit and vegetables.
Reduction of VAT for essential items such as fruit and vegetables, pasta and cooking oils.
Inheritance and gift tax
The amendment of the legislation completely eliminates inheritance and gift tax for inheritances between parents and children, grandparents and grandchildren and spouses.
Spanish succession tax in the Balearics
SSGT applies to inheritances and lifetime gifts. It is due when the beneficiary is resident in Spain, or the asset being gifted or inherited is a Spanish asset.
Planning your retirement in Spain
Mallorca remains a popular destination for British retirees and there are so many benefits to living here
The first step on your financial journey in Spain – choosing your adviser
Your UK adviser is unlikely to know the ins and out of local regulations in the Balearics (which vary from elsewhere in Spain) or keep on top of reforms.
More families than ever caught in UK inheritance tax net
UK inheritance tax follows you to Spain since your estate is liable for as long as you remain a UK domicile.
Pensioners walking by the port
Pensioners walking by the port.
Strategic financial planning for Spain
Every family is different. Your strategic financial planning must be carefully designed for you.
Looking after your financial wellbeing
Your portfolio needs to be designed around your circumstances, needs, objectives and risk profile – too many people have investments that aren’t suitable and too risky for them.
Comment
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