Ambient Wealth

Josh Williams – Founder & Director, Ambient Wealth Management

Josh is the founder of Ambient Wealth, a cross-border financial advisory firm based in Andalucía, Spain. He has been looking after clients across Spain and Europe for 10 years, helping make sense of complex tax and investment rules. Specialising in tax-efficient investing, UK pension structuring, and succession planning, Josh’s focus is on simplifying financial decisions and giving expats peace of mind about their money.

WHY FINANCIAL PLANNING MATTERS

Moving overseas involves more than packing up and booking a flight. Proper financial planning
helps you avoid costly mistakes, reduces unnecessary stress, and maximises your wealth potential
while abroad. Throughout this guide, we’ll explore each essential financial area, offering thorough
guidance and actionable tips.

Services

– Locally compliant & tax-efficent investments

– UK defined benefit & defined contribution schemes

– SIPPs

– QROPS

– QNUPS

– Annuities

– Trust & estate planning

FAQS

1. Do I have to pay tax in my new country if I’m already paying tax in the UK?
Yes. Once you become tax resident in an EU country (usually after 183 days or if your main home and economic interests are there), you must declare worldwide income. Double tax treaties stop you being taxed twice on the same income, but local filings are still required.

2. How are UK pensions taxed if I live in the EU?
In most cases, UK pensions are taxable only in your country of residence under double tax treaties. The treatment varies — some EU countries tax pensions as income, others apply reduced rates, and certain compliant structures can make withdrawals more efficient.

3. Can I keep my UK ISAs when I move abroad?
Yes, but they lose their UK tax advantages once you’re non-resident. In most EU countries, ISAs are treated like normal investments and taxed locally. Many expats explore local “compliant” investment wrappers instead.

4. Do I need to report my overseas bank accounts and investments?
Yes. Most EU countries require residents to declare assets held abroad if they exceed certain thresholds (for example, €50,000 in Spain, €100,000 in France). Non-reporting can lead to heavy fines.

5. How is inheritance tax handled if I live in the EU but have heirs in the UK (or elsewhere)?
Inheritance rules depend on residence, domicile, and where assets are located. Both your new country and the UK may apply tax, though treaties and planning structures can minimise double exposure.

6. What is “wealth tax” and does it apply across Europe?
Some EU countries levy an annual tax on worldwide assets above certain thresholds (e.g., Spain, Norway). Others don’t. If you live in a country with wealth tax, planning solutions can help mitigate the impact.

7. Can I use UK financial advisers while living in the EU?
Possibly, but UK-based advice may not comply with EU regulations. Using a locally regulated adviser ensures your investments remain tax-efficient and compliant with EU law.

8. Is it possible to invest in euros if most of my wealth is in pounds or dollars?
Yes. Many expats diversify by holding euro-denominated assets to match local spending, while still keeping exposure to their “home” currencies. Professional structures can reduce FX risks.

9. Are there ways to reduce my annual tax bill as an expat?
Yes. Depending on the country, options may include tax-efficient investment bonds, international pensions, or annuity structures that reduce the taxable portion of income. The rules differ widely across the EU, so tailored planning is key.

10. Do I really need a financial adviser, or can I just use online platforms?
For simple investing, online platforms can work. But cross-border tax rules in the EU are rarely straightforward. For most expats, professional advice saves more in tax (and compliance headaches) than it costs in fees, plus some capital growth/income on top.