Brexit, what happens next?

We followed the whole process and results of the referendum during last night. As you know, the result, very adjusted, is to leave the European Union by around 1.1 Million votes of difference.Brexit Results

After the speech of David Cameron this morning at 9 o’clock, there are serious reasons to keep calm as there is not going to be any change in the short term. Cameron announced his resign and an the election of a new Prime Minister before the end of the year 2016. Only after that moment, the negotiations with Europe would start to negotiate the exit and it may take years. At least, 2.

As I have discussed with many clients during the meetings for the Annual Income Tax Returns, with the millions of expatriates living in Europe, we do not see United Kingdom abandoning you in Europe and there will be new agreements with the countries of Europe to keep offering Security, Healthcare and Residence.

As the agreements to avoid the double taxation are agreed individually, it would not be affected by the Brexit and the taxation of your income in Spain as a Resident would remain on the same situation as the applicable law is the Spanish Income Tax Law and it does not depend on Europe.

The Prime Minister of Spain, Mariano Rajoy, said also this morning that it may take years to discuss the conditions before UK can leaves the European Union formally and appointed the situation of different countries in a situation similar to the future situation of UK like Norway or Switzerland where their citizens in Spain may have the option to use our Healthcare system with no cost.

As you know, our principal client is somebody like you, expatriates living permanently or as Non Residents in Spain, and we will follow and study different aspects of the negotiation when it happens and we will inform you about the possible changes and whatever you may have to do in the future if you have to do anything.

We hope to be helpful and, if you ever need a meeting to discuss your personal situation please, do not hesitate to contact us as we are here to make your life easier in Spain and give you peace of mind that everything is under control and, at the moment, we can assure there is no reason why you should not have it.

Please, follow us on Facebook to keep updated on this and many other aspects of your life in Spain and remember that you can also contact us on 965 705 502 or by email at info@tacs4expats.es

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