If you are returning to the UK, it is important to plan your move carefully in advance, and review all the tax and wealth management considerations before you leave Portugal. Do not risk undoing the tax advantages you secured by previous tax planning.
The new year is an excellent time to carry out a 'wealth review' to make sure your money is working as well as it can for you as an expatriate in Portugal.
For UK nationals looking to live abroad, there are many good reasons to choose Portugal, and one of them is its beneficial tax regime. The Non-Habitual Resident (NHR) scheme was established to encourage wealthy people to move to Portugal.
The tax burden on residents of Portugal has increased significantly over recent years. Nonetheless, Portugal can still offer expatriates tax advantages compared to other European countries, depending on your circumstances and tax planning.
Many people fall in love with Portugal and consider making it their home. There are, however, some tax and financial essentials you need to be aware of and plan for if you are to get the best out of living in Portugal.
