Re: Ex Pat what could happen on EU exit
Originally Posted by
JBR
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There has been a great deal of speculation about this; some of it quite worrying.
I don't claim to know all the ins and outs, but one thing that occurs to me is that Spain and other EU countries are likely to welcome the retention of anyone who has enough money to support themselves and, thus, contribute to their national economy!
Hi
However we don't, one of the main arguments for Brexit is the number of EU Nationals living in the UK and the pressure they put on services.
The value of the £ against the Euro has sunk significantly over the last five months, equivalent to a 10% drop in income for non working Ex Pats.
Last November I got 6.08 Zloty to the £, a week ago it was 5.42, yesterday, 5.21, not very attractive.
The other side of the coin however is this.
Whilst the EU is becoming less attractive to UK Pensioners, the UK is becoming less attractive to EU workers, many of whom send money back to their home countries.
There will be a readjustment, more UK Pensioners returning from the EU, but more younger EU workers leaving the UK.
The other issue will be reciprocal taxation agreements.
Once we leave the EU, they fail, so UK Pensioners will have to pay tax in EU Countries where the tax system does not have the same tax free allowances as the UK.
The effects of this are unknown, it will all depend on how effective our negotiating team are when we leave.
Poland, for example, is very keen on the reciprocal tax situation being abolished completely, there are many small Polish Businesses registered in the UK purely for tax purposes.