Changes to pension schemes and inheritance tax (IHT) are set to affect British expats living in Spain.
Hundreds of thousands of Britons have made the sunny destination their home, but new UK rules coming into play from April 6, 2027, mean they could be subject to the 40 per cent IHT.
The regulations were announced in the 2024 Autumn Budget and mean that unused pension funds will be included in the total value of a person’s estate and fall within the scope of IHT.
Britons living in Spain won’t be exempt from the new rules and it could mean their remaining pension pot
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