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The UK left the EU on 31 January 2020. The transitional period ran until 31 December 2020, and the UK is now a “third country”, no longer part of the EU’s economic structures. This change might affect how your UK investments or pensions are serviced in the future.
If you live in France and have investments, a life assurance policy, or personal pensions with a UK-authorised insurer, or are planning to move to France, here’s what you should do:
When you are tax resident in France, you are living under French rules and regulations. While UK-based advisers may be experts in the system for UK residents, they are unlikely to have in-depth knowledge of French regulations, and why should they?
All of our financial advisers have an in-depth knowledge of these regulations and access to solutions that could offer significant benefits as France residents.
If you are holding on to UK savings and investments, be aware that they already lose their UK tax benefits once you are living in France. Their growth should be declared to the French tax authorities annually, even if not withdrawn. Now that they have ceased to be EU/EEA assets, they could potentially attract a higher tax bill in either or even both countries.
As residents of France, you can access locally compliant alternatives that offer benefits such as tax efficiency, multi-currency options, and estate planning flexibility. So, please explore your options.
Now that the Brexit transition has ended, it has never been more important to ensure your financial affairs are both compliant and suitable for your life in France.
At Beacon Global Wealth Management, we are committed to providing our France-based clients with a high-quality service well into the future. We have been planning for Brexit for some time and have arrangements in place to continue servicing our clients. We are fully Brexit-ready and will continue to provide regulated advice for France-based clients from 2021 and beyond.
Talk to an experienced, locally based adviser as soon as possible to secure your financial peace of mind.
To see if we can help you, we offer a free initial financial consultation, currently conducted by phone or video in these travel-restricted times.
We will work out where you are today, where you want to be in the future, and, following our discussions, create a Report & Recommendations to help get you there.
Everything is conducted in English and is based on French rules & regulations.
As part of your Free Initial Financial Consultation, we will:
By the end, you should feel more financially organised and in control. There’s no cost and no small print—just a free opportunity to experience our services from the comfort of your own home.
To arrange a free chat, simply send us an email with your best contact number and preferred time of day to chat, and we’ll be back in touch to arrange this with you.
Before you engage us, we’ll get to know you to make sure we’re a good fit in terms of understanding what is most important to you.
After our discovery call, we will summarise our understanding of your current situation and the key objectives which will ensure we're aligned with your goals.
Once you’re happy that we’re right for you, we’ll provide our recommendations and implement them for you. But there’s never any pressure from us to proceed – that’s just not our style.
We will implement your plan, constantly monitor and report on the performance to ensure your private wealth is optimised and aligned with your goals and working for you. Additionally, we’ll provide you with regular statements and a half yearly review to ensure that you remain up to date with any investment or tax changes and that we continue deliver for the long term.
