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FEIFA Board reorganises
FEIFA (Federation of European IFAs) has reorganised its Board, with David Vacani becoming the new FEIFA Chairman. At the Federation’s recent AGM, the Board roles came up for election, or re-election, based on the three-year cycle within its Constitution. All...
Proposed French Tax Changes 2023
The French government published its 2023 budget on 26 September-2022. This now has to pass through the parliamentary process before being finalised and approved at the end of the year. This budget does not carry any significant reform. Income tax bands will increase...
Investment Market Update July 2022
An introduction to Beacon Global Wealth Management for US-connected clients
About us The team at Beacon Global Wealth Management has decades of experience providing advice to clients across Europe and beyond. Formed in 2012 by David Vacani, the mission was to provide expats and internationally mobile clients with expert advice and guidance to...
Passive Foreign Investment Company
Americans overseas and the U.S-connected individuals obligated to file taxes in the United States frequently make a common mistake by buying or investing in a foreign mutual fund (including ETFs or other non-U.S.-based funds). These non-US funds are classified as...
FATCA
Most American expats have heard of FATCA. A few know what it means to them, but most don't like it. But in reality, it's the foreign financial institutions the United States obligates to report that like it far less than the taxpayer. Why? Because if the institutions...
What is French Gift Tax (“Droits de Donation”)?
We talk to Paul Flintham, an International Financial Advisor at Beacon Global Wealth Management about French Gift Tax. Gifts are made while you are still living. The Doner makes the gift, the Donee receives the Gift. The Donee is also responsible for paying any tax...
Financial planning for retiring from the UK to France
When it comes to retiring to France from the UK, one of the most imperative requirements for a successful visa application is for your financial circumstances to be in good order. We talk to Jennie Poate at Beacon Global Wealth, a wealth management firm specialising...
French Income Tax rates 2022
The French government have released the proposed income tax rates and bands that will apply next year on 2021 income. Although income tax rates remain unchanged next year, the income bands on which the rates apply have been increased by 1.4% from those of the current...
General Market Commentary March 2021
https://www.youtube.com/watch?v=SqPR0P5hDrM
General Market Commentary February 2021
https://www.youtube.com/watch?v=6hg5KrM14yM&feature=youtu.be
US CONNECTED PERSONS
At Beacon Global Wealth we meet many interesting people from all over the World. People who have packed up their bags left behind family and friends, whether for lifestyle or professional reasons and have relocated to different climes and cultures. With this major...
REVIEWING YOUR FINANCES POST BREXIT
We have seen recently a number of UK financial institutions change their stance for clients who live outside of the UK and companies including the likes of Aviva not allowing online access for clients which is causing confusion....
DECLARING ACCOUNTS HELD OUTSIDE OF FRANCE
We have seen recently a number of clients be caught out on the above ruling, including those who use an accountant. If you are tax resident in France, you must declare each year your bank accounts, investment policies and insurance contracts. It does not...
Dealing with Scams
You may have seen emails alerting you to a new fraud specific to the financial services advice industry. We are not aware of any of our clients having been targeted in the way described below, but it is our responsibility to do everything we can to educate our clients...
Consumer guide- if you live in France -and have Investments or Personal Pensions still in the UK
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” and no longer part of the EU’s economic structures. This might affect how your UK investments or pensions are serviced in the future. If you...
Brexit changes in France from Jan 2021 – European Health Insurance Card
The European Health Insurance Card (EHIC) is to be renamed the Global Health Insurance Card (GHIC) For those in France whose health cover is supplied via the SI form when receiving the UK State pension, the new website for a replacement card is the following:...
Useful information re the Brexit changes in France from January 2021
Post/Parcels Letters and large letters containing only correspondence, commercial invoices or shipping documents do not require a customs declaration, the rest do. They can be downloaded from the following sites. France:...
General Market Commentary December 2020
https://www.youtube.com/watch?v=WFppn3PkzU0&feature=youtu.be
General Market Commentary November 2020
https://youtu.be/IRsBEXGd9Ns
Portugal Non-Habitual Tax Regime
Background and Taxation Summary This summary provides an initial overview and explains the main guidelines and possible implications of the non-habitual resident (“NHR”) regime for foreigners and Portuguese individuals settling in Portugal after an extended period of...
Qualifying for Non-Habitual Tax Residency in Portugal
Qualifying for the NHR status and Registration as NHR Recognition of this status is not automatic and requires activation by attending to the following formalities: Application for a Portuguese taxpayer number Registration as tax resident Request the access codes to...
Statutory Residence Test Portugal
If you are planning on moving to Portugal and you are leaving from the UK, then it is most sensible to ensure you leave the UK properly. This means you should take note of the Statutory Residence test rules. What's new in Statutory Residence Test? On 19 March 2020...
(Provisional) French 2021 Tax Rates
The provisional bands and rates for 2021 for 2020 household income are below and are subject to parliamentary approval in December 2020. The income levels in each band will increase by 0.2% for inflation, but for two bands the maximum income figure has been reduced as...
France Residency Card Online application portal now open
To apply for the new France Residency Card online, you need to go to the following French government site https://contacts-demarches.interieur.gouv.fr/brexit/brexit-demande-titre-sejour/, before you apply you will need to prepare the documents that are needed to...
Resident in France, and your investments or adviser, still in the UK?
If you are already France tax residents (or moving to France) and you take financial advice from the UK or your investments are still UK based, what do you need to think about as the end of the Brexit transition period approaches? Reassuringly, citizens’ rights for UK...
General Market Commentary October 2020
https://youtu.be/DrfglkqAXe4
General Market Commentary September 2020
https://youtu.be/TrN7pa8UPDc
EXPENSES USD EUR GBP
EXPENSES U.S. $ EURO € GBP £ Rent $800 to $1,500 €712 to €1,335 £632 to £1,185 Electricity $100 €89 £79 Groceries (incl. wine) $600 €534 £474 Landline rental fee (excluding call costs) $60 €53.40 £47.40 Gas for heating/stove $60 €53.40 £47.40 Internet $40 €35.60...
French residency card online application portal opening delayed | An announcement from the French Government
https://brexit.gouv.fr/sites/brexit/accueil/vous-etes-britannique-en.html “How to prepare for Brexit? Following the ratification of the withdrawal agreement, the United Kingdom’s exit from the European Union took effect on 1 February 2020. This agreement provides for...
Meeting the Income criteria when moving to France
When I first became an advisor in France more than ten years ago, the single most important criteria for those moving to France was protecting capital due to the different inheritance rules here. Almost exclusively our clients were of a certain age and retiring to...
Why the Assurance Vie?
Well over one Trillion Euros (well over one Million, Million Euros) is now held in Assurance Vie (AV) policies and life insurance remains the preferred investment for French tax residents. Although the idea was born in the middle of the 17th century, the Assurance Vie...
General Market Commentary March 2020
Update
It’s not about timing the market, it’s about time spent in the market In today’s low interest rate environment (and if it is at all possible, interest rates now seem to be getting even lower!), to achieve any growth a measured amount of risk has to be taken, meaning...
An update on French Residency after Brexit 02-Feb-2020
The French Government have just issued the following update: Saisine des services de l'Étatpar voie électronique The website ONLINE PROCEDURE TO REQUEST A RESIDENCE PERMIT FOR BRITISH CITIZENS RESIDING IN FRANCE BEFORE THE UNITED KINGDOM’S WITHDRAWAL...
Why it is essential to talk to your Financial Adviser (and your dentist)
I’ve been giving financial advice to English speaking clients who live outside of their home country now for the last 23 years (of which the last 13 years in France) and they certainly are a varied bunch of folks Some have settled into their new country and new...
New Online Procedure is now in English for a French Residency permit (Carte de Séjour) in case of a NO DEAL Brexit
For whom is this service meant? This online service is meant for British citizens as well as their family members (spouse, children and parents of British nationality or third-country nationals residing on the French territory before the United Kingdom’s withdrawal...
France Tax Rates and changes for 2020
It is the time of year when we find out what tax changes we will charged in the following year and wait for parliament to debate and finalise the proposed budget. President Macron’s government has announced €9 billion worth of tax cuts for families in France. France’s...
Minimum Income Requirements to be resident in France
Up until now, British passport holders have been able to live in France and elsewhere in Europe with no Visa and no formal requirement to prove they have the means to live here. This is all likely to change with the UK leaving the EU. Current guidelines state that...
General Market Commentary July 2019
UK Nationals Living in France – Latest Residency Update 21/08/19
If you’re an expat living in France and wish to remain there post-Brexit, here are a few pieces of information you should know from the UK government website:
Avis d’ Impot
Understanding your tax return reply form ‘Avis D’Impot’
French Capital Gains Tax (CGT) on property sales
When your main home/principal residence is in France and you are a tax resident in France it is a legal obligation that you declare all your world/global income and capital gains
General Market Commentary June 2019
The second quarter closed on Friday with share prices continuing their upward march.
Comparison Between UK Rental Income and ‘Assurance Vie’ income
Rental income is always taxed in the UK using individual personal allowances 2018/19 = £11,850. So, you can receive £23,700 between you with no income tax to pay.
How to choose the right advisor for you
Did you know that there are different type of financial advisors?
When you search for a financial advisor, how can you be assured that they are right for you?
Understanding your attitude to investment risk
Understanding your appetite for risk is key when you are considering an investment strategy. Risk profiling is the process that we use to find your correct level of investment risk.
Client function 11th June 2019
Beacon Global Wealth Management were delighted to hold a client function in Normandy on the 11th June. This was hosted by Jordan Buchanan and was our way of saying thank to you to existing clients old and new.
General Market Commentary May 2019
In May a possible breakdown in trade negotiations between the US and China, together with a potential new round of tariffs on imports from Mexico, ignited investors’ fears of a further deterioration in global growth
General Market Commentary April 2019
Global equity markets rose for the fourth consecutive month in April, as the S&P 500 recorded a new high for the first time since last September.