Time to Move and Escape Brexit?
With the Brexit fiasco now extended to the 31st of January 2020 at the earliest, it’s left a lot of people stuck limbo and unsure as to what happens next. Will they have to move back home after Brexit? Will there be extra costs involved? Will they get charged import taxes now? We’ll look at all these questions and more as we attempt to answer is it time to move and escape Brexit once and for all?
Unfortunately the cost of moving from the UK into Europe has already risen since Brexit was annouced. It will also undoubtedly rise again once the post-Brexit red-tape we’ve been warned about comes into effect. Costs of essential travel documents such as visas and passports will also see an increase. Not just for British citizens either, as other European countries have also announced cost increases for travel documentation.
Thankfully the government and EU have already agreed to continue the current Healthcare International Arrangement and this will remain in place after 2020. So if you get ill or get hurt in an accident abroad, but you’re still within the EU, you’re still covered. So there’s no need to cancel that late European city break just yet! This Healthcare agreement is also reciprocal. It allows EU citizens to recieve the same level of care in the UK as they would expect in their home country. So as long as the government safeguards this arrangement you shouldn’t worry about getting ill abroad, regardless of the outcome of Brexit.
We can’t say exactly how hard it will be to move to Europe after Brexit, but we do know it’s going to get harder. At the moment it’s pretty easy to relocate or move to any European country. There is relatively little paperwork to fill in when moving abroad as we all have the right to live and work anywhere in Europe. However, after Brexit there will be a lot more paperwork and lots of red-tape to negotiate. This isn’t just for private customers either, all commercial relocations and moves will be the same. With many companies attempting to exit the UK and set up shop in a less restrictive country that has actual trade agreements.
Regardless of what some political parties might have you believe, if you are an EU resident and have moved to the UK and call it your home, you will not be forced to leave. Yes there will be tighter restrictions in place post-Brexit. This could mean a dramatic reduction in immigrants trying to make the UK their home. However, if you already live here, you don’t have to worry about being forced to move back home. All you have to do is apply to the EU Settlement Scheme for settled or pre-settled individuals and families.
A lot of people wrongly think that if they move away from the United Kingdom they no longer have to pay taxes in the UK. This is a big misconception, particularly if you own land or assets in the UK itself. If you’re renting out your old property you’ll need to pay tax on that. Or if you decide to sell your UK house once you’ve left, you need to remember about Capital Gains Tax! So even if you’ve lived in your fancy Spanish Villa for 2 years, but still rent out your old house in the UK, you’ll still have to pay taxes!
Unfortunately we’re still not alot clearer on what will happen after the 31st of January 2020. There will be changes, there will be more paperwork and it will be harder to move from country to country. So with this little extension of 3 months why not take the plunge and move now before the red-tape gets laid out across the EU. If you are thinking of moving, be sure and choose a mover who is not only BAR registered, but understands the impications of Brexit and explains the process clearly for you.
Why not get a free no obligation quote here?