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ARTICLE · 03 MARCH 2026

Case Study Spanish Tax Resident Couple

Spectrum IFA Group
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Husband 60, wife 60, married, with two children who are financially independent and living in the UK

SpainTax
Barry Davys
Barry Davys
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Husband 60, wife 60, married, with two children who are financially independent and living in the UK

Background

  • Pensions £930k
  • House €1.25 M
  • Investments £60k
  • Cash Spain €60k
  • Cash UK £184k
  • Wills – UK & Spain

Challenges

  • Build client understanding of pension situation and propose planning solutions
  • Combined pension values were about to exceed UK Lifetime Allowance, relevant even for Spanish residents
  • Difficulty calculating total pension benefits as coming from four different schemes
  • When can I retire?
  • No clear investment strategy
  • How to minimise tax on retirement income

Better returns on funds held outside the pensions

  • Bank accounts earning only 0.15%

Forward planning including Inheritance Tax

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