Viewing posts categorised under: Events

Le Tour de Finance visits “Escape to the Chateau”

By Spectrum IFA - Topics: Events, France, Le Tour de Finance

19.10.17

Following recent successful events in Aix-en-Provence and Carcassonne, Le Tour moved north to the Mayenne, before heading on-wards to Clecy and Lanvallay. The first event this week event took place at the Chateau de la Motte Husson, the “star” of Channel 4’s Escape to the Chateau.

Le Tour de Finance is a series of financial forums designed to give expatriates in France access to various financial experts. Hosted by The Spectrum IFA Group’s Christopher Tagg, topics covered were the tax advantages of Assurance Vie by SEB Life’s Jeremy Ferguson, Calum Harkiss of Currencies Direct answered questions relating to Foreign Exchange, Mark Ommanney of Tilney gave his views on the current state of the markets, Paul Forman of Momentum Pensions tried to help make sense of the complex UK pension rules and talked about QROPs and Prudential’s Edny Van Den Broek spoke about investing for the risk averse. Spectrum’s Michael Doyle gave a practical example of how our experts services provide practical financial solutions and benefits for expatriates living in France.

Finally, a vote of thanks to the day’s attentive hosts, Dick and Angel Strawbridge.

To learn more about Le Tour de Finance and to registered or find out about future events please click here or visit the dedicated Le Tour de Finance website

Do you know the rules around domicility?

By Derek Winsland - Topics: domiciled, Events, France, Habitual Residence, Residency

01.09.17

Like many in France, I took time off this month, and to while away the time, caught up on some industry articles. One such article was written by Old Mutual International that presented the results of a small survey it can conducted amongst ex-pats regarding what they believed were the rules around domicility.

It asked the respondents six questions, and the answers were sufficiently enlightening that I thought I’d share them with you.

1. British expats mistakenly believe they are no longer UK domiciled
Everyone has a domicile of origin, acquired at birth. For UK nationals, it’s possible to acquire a new domicile (a domicile of choice) by settling in a new country with the intention of living there permanently. However, it is not always guaranteed that one can lose one’s UK domiciled status and acquire a new one, as there are no fixed rules (as you would expect from HMRC) as to what is required.

Living in another country for a long time, although an important factor does not prove a new domicile has been acquired. Among the many conditions that HMRC list, it states that all links with the UK must be severed and they must have no intention of returning to the UK.

Research* shows 74% of UK expats who consider themselves no longer UK domiciled still hold assets in the UK, and 81% have not ruled out returning to the UK in the future. This means HMRC is likely to still consider them to be deemed UK domiciled.

2. British expats mistakenly believe they are only liable to UK inheritance tax (IHT) on their UK assets
As most British expats will still be deemed UK domiciled on death, it is important to understand that their worldwide assets will become subject to UK IHT. A common misconception is that just UK assets are caught. This lack of knowledge could have a profound impact on beneficiaries.

Before probate can be granted, the probate fee and any inheritance tax due on an estate must be paid. With UK IHT currently set at 40%, there could be a significant bill for beneficiaries to pay before they can access their inheritance. Setting up a life insurance policy could help ensure beneficiaries have access to cash to pay the required fees. Advisers setting up policies specifically for this purpose must ensure they place the policy in trust to enable funds to be paid out instantly without the need for probate.

Research* shows a staggering 82% of UK expats do not realise that both their UK and world-wide assets could be subject to UK IHT.

3. British expats mistakenly believe they are no longer subject to UK taxes when they leave the UK
All income and gains generated from UK assets or property continue to be subject to UK taxes. Some expats seem to think that just because they no longer live in the UK they don’t need to declare their income or capital gains from savings and investments or property held in the UK. By not declaring the correct taxes people can find they end up being investigated by HMRC, and the sanctions for non-disclosure are getting tougher.

Research* shows 11% of UK expats with UK property did not know that UK income tax may need to be paid if their property is rented out, and 27% were unaware that Capital Gains Tax may need to be paid if the property is sold.

4. British expats mistakenly believe that their spouse can sign documents on their behalf should anything happen to them
The misconception that a spouse or child or a professional will be able to manage their affairs should they become mentally incapacitated is leading people to think they don’t need a Power of Attorney (POA) in place. This could result in families being left in a vulnerable position as their loved ones will not automatically be able to step in and act on their behalf. Instead, there will be a delay whilst they apply to the Court of Protection to obtain the necessary authority. This extra complication is all avoidable by completing a lasting POA form and registering it with the Court of Protection.

Research* shows 44% of UK expats wrongly believe their spouse will be able to sign on their behalf should they become mentally incapacitated.

5. British expats unsure if their will is automatically recognised in the country they have moved to
It is wrong to assume a will or POA document is automatically recognised in the country in which they move to. Often overseas law is driven by where the person is habitually resident, and the laws of that country will apply. Therefore, people may require a UK will and POA for their UK assets and a separate one covering their assets in the country they live. The wills also need to acknowledge each other so as not to supersede each other.

Research* shows 50% of UK expats do not know if a will or POA is legally recognised in the country they have moved to.

If you feel you could be affected by this, or have personal or financial circumstances that you feel may benefit from a financial planning review, please contact me direct on the number below. You can also contact me by email at derek.winsland@spectrum-ifa.com or call our office in Limoux to make an appointment. Alternatively, I conduct a drop-in clinic most Fridays (holidays excepting), when you can pop in to speak to me. Our office telephone number is 04 68 31 14 10.

Enjoying the perfect day together

Le Tour de Finance, Domaine Gayda, 6th October 2017

This year’s event is now fully subscribed and we are unable to accept any more places. If you were wanting to attend, but hadn’t got round to booking, then all is not lost. It’s possible to make a personal appointment to see me in our Limoux office. Please ring either the office or me directly on my mobile.

Le Tour de Finance

By Spectrum IFA - Topics: Events, France, Le Tour de Finance, Spectrum-IFA Group

20.06.17

Le Tour de Finance has just finished another stage of it’s annual tour with three well attended forums in the 06 and 83 departments of the Cote d’Azur.

Due to the lovely early summer evenings, two of the sessions were held from 6.30pm culminating with a relaxed wine presentation and buffet in the lovely settings of the Mas Shabanou in Roquefort les Pins and the Bastide St.Mathieu in Grasse. The third event was held at the normal time of 10.30 in the equally lovely setting of Le Clos des Roses in Frejus.

As part of the long term commitment from the team organising Le Tour de Finance, senior representatives of large financial institutions were on hand to give brief presentations, but more importantly, were there to answer varied questions from the attendees.

Coaxed out from behind their desks, these senior executives from companies such as Tilney, Prudential, Rathbones, Momentum Pensions, SEB and Currencies Direct give short presentations on a range of subjects and then welcome questions from the floor. This really is the chance to get those all important questions answered by the professionals.

This unprecedented access to a range of international and independent experts is what sets Le Tour de Finance events apart.

After the summer recess, Le Tour will continue in October:
5th October – 13610, Le Puy Sainte Réparade
6th October – 11300, Gayda, Languedoc
17th October – 53470, Martigné sur Mayenne
18th October – 14570, Clecy
19th October – 22100, Lanvallay

If you would like further information or would like to book a place, please contact us or visit the dedicated Le Tour de Finance website for further information on the future events.

The objective of Le Tour de Finance is to provide expatriates with useful information relating to their financial lives. We try and cover frequently asked questions that we receive from our clients, however, it would be helpful for us to know what your particular areas of interest might be. If you’d like to send us your question please click here to complete the form.

Spectrum client event, Sant Luis, Menorca

By Susan Worthington - Topics: Events, Mallorca, menorca, spain

18.06.17

To celebrate our continued commitment to both new and long term clients, our Balearic team organised a relaxed and fun event in Sant Luis, Menorca.

A total of 39 people attended the gathering which enabled Spectrum’s advisers time to chat with their guests and catch up in a relaxed and fun atmosphere.

Spectrum IFA Mallorca

The location was excellent at Bodegas Binifadet in Sant Luis. The staff were very attentive, the food really tasty and in general the venue was ideal for a relaxing afternoon. Thanks go to Andrea Collier for organising the event, to Rocío Berzosa and her team at Binifadet, to the team from Tilney Asset Management for their sponsorship and to the whole Spectrum team in Mallorca and Menorca for their support and organisation.

Investing in turbulent times – presentation, Costa del Sol

By Spectrum IFA - Topics: Costa del Sol, Events, Investment Risk, Investments, spain, Spectrum-IFA Group, wealth management

15.06.17

The Spectrum IFA Group and Tilney Investment Management co-sponsored an excellent presentation and lunch on 13th June at the exclusive Finca Cortesin Hotel & Spa on the Costa del Sol. The Spectrum IFA Group was represented by our local adviser, Charles Hutchinson, assisted by his wife Rhona and Jonathan Goodman who attended along with Richard Brown, Lewis Cohen and Harriette Collings from Tilney.

For this event, around 25 attendees were invited and selected for this exclusive venue. They were given a very interesting interactive talk by Richard and Lewis on investing in these turbulent times, followed by a mingling lunch and refreshments in the Moroccan Room where everyone was able to personally discuss their questions with staff from both companies in a glorious and relaxing setting with gardens and fountains close by. The feedback from the attendees has been most impressive.

Spectrum was very proud to be involved with Tilney in this superb event. It is hoped this will be repeated again in the future.

Financial Advice Spain
Financial Advice Spain

Le Tour de Finance – spring 2017

By Spectrum IFA - Topics: Events, France, Le Tour de Finance, Spectrum-IFA Group

07.04.17

The final three Le Tour de Finance events of the spring season finished in La Roche sur Yon, Niort Bssines and Magnac sur Touvre. The venues for these past three events were spectacular bringing even more enjoyment to the days events for the attendees. The weather was sublime and the events were a huge success.

Thus far, Le Tour de Finance in 2017 is proving to be the most popular series of events ever. The seminars offer English speaking expats a chance to meet various experts from fields including; specialist expat independent financial advice, wealth management, currency exchange, QROPS/pensions and expat tax advice. The experts represent a range of international institutions giving attendees unprecedented access to ask those nagging questions about living as an expat in France.

Representatives from a wide range of international companies such as Tilney, SEB Life, Standard Bank, Rathbones, Prudential International, Momentum Pensions and AXA attend the events for a small presentation but more importantly, the events allow attendees to ask direct questions to these experts. This unprecedented access to the experts is what really sets Le Tour de Finance events apart.

The events will re-commence in June visiting the Alpes Maritime and Var regions. The events locations are Roquefort les Pins, Cabris and Frejus. Keep an eye open for events in France, Spain and Italy or contact us here to receive updated information on events in your region.

The objective of Le Tour de Finance is to provide expatriates with useful information relating to their financial lives. We try and cover frequently asked questions that we receive from our clients, however, it would be helpful for us to know what your particular areas of interest might be.

If you have any specific question please contact us here – Le Tour de Finance Questions

Spectrum sponsor the DFAS event – Costa del Sol

By Charles Hutchinson - Topics: Costa del Sol, Events, spain, Uncategorised

16.12.16

The Spectrum IFA Group again co-sponsored an excellent DFAS (Decorative & Fine Arts Society) lecture on 14th December at the San Roque Golf & Country Club on the Costa del Sol.  We were heartily represented by one of our local and long-serving Advisers, Charles Hutchinson, who attended along with our co-sponsors Richard Brown, Lewis Cohen and Harriette Collings from Tilney Bestinvest. Tilney Bestinvest also very kindly hosted a lunch afterwards for selected potential clients, the DFAS Chairman and the Lecturer.

The National Association of Decorative & Fine Arts Society (NADFAS) is a leading Arts charity which opens up the world of the arts through a network of local societies (such as DFAS in Spain) and national events throughout the world.

With inspiring monthly lectures given by some of the country’s top experts, together with days of special interest, educational visits and cultural holidays, NADFAS is a great way to learn, have fun and make new and lasting friendships.

At this event, over 120 attendees were entertained by a talk on Dutch Genre Painting by Lynne Gibson who is one of the UK’s top experts in this field. She was excellent and kept the audience gripped and entertained with her knowledge and humour – especially the hidden saucy side to the art which she revealed to great effect!

The talk was followed by a drinks reception which included a free raffle for prizes including CH produced Champagne, mince pies and a lovely coffee table book on Dutch Genre Painting.  Tilney Bestinvest also supplied a wooden permanent calendar designed and beautifully crafted by Viscount Linley, the Queen’s nephew, which caused a further stir after their last year’s prize!

All in all, a great turnout and a very successful event at a wonderful venue.  The Spectrum IFA Group were very proud to be involved with such a fantastic organisation and we hope to have the opportunity to do so again.

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Le Tour de Finance – British Embassy Paris 19th October 2016

By Spectrum-IFA - Topics: BREXIT, Events, France, Le Tour de Finance, Spectrum-IFA Group, Uncategorised

12.10.16

The Spectrum IFA Group, as one of the participants of Le Tour de Finance, is proud to announce that the event of 19th October will be held at the British Embassy in Paris.

This prestigious event brings together a number of experts from major British financial institutions on subjects such as UK/French Tax Issues, BREXIT and what this could mean for British expats, Pensions/QROPS and Tax Efficient Investing and Estate Planning for expats.

The popular Tour de Finance events are an excellent opportunity for expats living in France to get those all important questions answered by specialists in their respective fields. The events will also give you a chance to meet other like minded expatriates in a relaxed and convivial atmosphere.

The event will commence at 18.00, with a complimentary buffet in the Embassy from 20.00 – 21.00.

If you would like further information or would like to book a place, please contact us

The objective of Le Tour de Finance is to provide expatriates with useful information relating to their financial lives. 
We try and cover frequently asked questions that we receive from our clients, however, it would be helpful for us to know what your particular areas of interest might be.

Send us your questions and the event you will be attending and we will try and cover them on the day:

Please click here Le Tour de Finance Questions

British Chamber of Commerce, Spain and The Spectrum IFA Group

By Spectrum-IFA - Topics: Barcelona, British Chamber of Commerce, Events, spain, Spectrum-IFA Group, Uncategorised

03.07.16

Here in Spain, the British Chamber of Commerce (BCC) is a very strong and successful organisation. In fact, it has just won an award for being the best Chamber in the World for promoting British trade! It was therefore no surprise to hear that the Summer Cocktail was UK themed and included Mini Cars, Scottish Beers and British Gins, amongst other things.

At the party, The Spectrum IFA Group were honoured to be presented with a plaque to thank us for 20 years of membership of the Chamber. The award was presented to Jonathan Goodman, Development Director of Spain, who has overseen our business here for the last 20 years. During this time we have worked closely with the Chamber on a large number of matters and events. In addition to the more formal associations it is always a pleasure to meet other members at their many social gatherings.

We would like to thank the BCC for their recognition of The Spectrum IFA Group and we look forward to working with them for at least another 20 years!

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Le Tour de Finance spring events

By Spectrum-IFA - Topics: Events, France, Le Tour de Finance, Uncategorised

16.06.16

The final three Le Tour de Finance events of the spring season finished in Pezenas, Nimes and Frejus. The venues for these past three events were spectacular bringing even more enjoyment to the days events for the attendees. The weather was kind and the events were a huge success.

So far, Le Tour de Finance in 2016 is proving to be the most popular series of events ever. The seminars offer English speaking expats a chance to meet various experts from fields including; specialist expat independent financial advice, wealth management, currency exchange, QROPS/pensions and expat tax advice. The experts represent a range of international institutions giving attendees unprecedented access to ask those nagging questions about living as an expat in France.

Representatives from a wide range of international companies such as Tilney BestInvest, SEB Life, Standard Bank, Rathbone Brothers plc, Prudential International, Momentum Pensions and AXA attend the events for a small presentation but more importantly, the events allow attendees to ask direct questions to these experts. This unprecedented access to the experts is what really sets Le Tour de Finance events apart.

The events will re-commence after the summer break in September and October. Keep an eye open for events in France, Spain and Italy or contact us here to receive updated information on events in your region.

The objective of Le Tour de Finance is to provide expatriates with useful information relating to their financial lives. We try and cover frequently asked questions that we receive from our clients, however, it would be helpful for us to know what your particular areas of interest might be.

If you have any specific question please contact us here – Le Tour de Finance Questions

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