Checklist Financial Planning Guide for UK Nationals Moving to the EU

Moving to the EU soon? There will be a number of things to do. Below is a short list. I can give you more details if you let me know where you;re thijnking of going.

Jez Bezant

1/21/20261 min read

worm's-eye view photography of concrete building

1. Tax Residency & Double Taxation

Understand residency rules: Most EU countries consider you a tax resident after 183 days.

Double Tax Treaties: These prevent double taxation but do not eliminate tax entirely. You may still owe taxes in both jurisdictions.

Exit, year complications: Leaving mid, tax year can create reporting challenges. Plan your exit timing carefully.

2. UK Pensions & Investments

Brexit impact: Many UK providers cannot service EU residents unless the adviser is dual regulated. Find an adviser regulated in the UK and the EU.

ISAs lose tax, free status: France, Spain, Italy, and Greece do not recognise ISAs as tax, free.

Pensions: Consider an international SIPP whether or not you plan to return to the UK.

Check drawdown rules: Pension withdrawals may be taxed differently in your destination country.

3. Banking & Currency Management

Multicurrency accounts: Essential for managing GBP income and euro expenses. Usually better conversion fees.

Large FX transactions: Use specialist FX services to reduce costs.

Local bank accounts: Often require residency documents, plan ahead.

4. Local Tax Systems & Wealth Taxes

France: Wealth tax (IFI) on property, high social charges.

Spain: Wealth tax in many regions, Modelo 720 reporting for foreign assets.

Italy: Taxes on foreign assets (IVAFE/IVIE), regional variations.

Greece: Worldwide income taxation, strict foreign account reporting.

5. Property Ownership & Capital Gains

UK Private Residence Relief: Lost if property is no longer your main home.

Double taxation risk: Even with treaties, property gains can be taxed twice.

Local property taxes: Often higher and more complex than UK council tax.

6. Healthcare & Insurance

Gap coverage: Private insurance may be needed until residency status grants access.

Retirees: Higher costs without employer contributions.

EHIC/GHIC cards: Limited coverage, do not rely on them for long-term care.

7. Administrative & Regulatory Barriers

Brexit paperwork: More complex compliance with tax, banking, and investments.

Dual filing: Expect to file in both UK and EU during transition years.

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Expat Adviser provides independent financial analysis and educational commentary. We are not authorised by the Financial Conduct Authority (FCA) to provide regulated investment advice. Nothing on this website or in our reports constitutes regulated financial advice under FSMA 2000. Where regulated advice is required, we will refer you to appropriately authorised specialists.