One beautiful destination in Europe has been drawing more Brits but not to experience a dreamy holiday, but to relocate instead. The country is becoming increasingly attractive for those planning to move abroad for a specific reason.

Greece, one of the most visited countries in the world, has introduced a 7% flat tax on most foreign income, including for qualifying retirees who relocate to the country, promoting it as and more attractive option for older Brits to consider as their new home.

However, before planning to pack your things and go, there are some many things that should be consider and sort out, including understanding how your retirement income will be paid to you once you move abroad and any packwork that needed to be filed.

When becoming a resident of another country, as well as being subject to its tax rules, you could also end up paying taxes in the UK as well, reports Mail Online.

Mike Ambery, a retirement savings director at pension group Standard Life, warned that “moving overseas can affect how your pensions and other assets are treated, both in the UK and in your new country of residence”.

Rosie Hooper, chartered financial planner at Quilter Cheviot, said: “Your tax responsibilities do not automatically stop when you leave the UK, and you could be taxed twice on the same income if you have not checked the rules in your new country.”

Fortunately, Greece has a double tax treaty with the UK, meaning as long as the UK Government doesn’t consider you a resident here, you will only pay tax in Greece.

Greece’s 7% applies for 15 years, and to qualify, you must relocate from a country that has a double tax treaty with Greece, show you have a stable income and become a tax resident.

When planning to move, it is essential that HMRC notify your pension provider of a no tax code. You typically need to fill out a form called Form DT-Individual, which you can send to your local tax authority for certification before forwarding it to HMRC.

It is vital you then understand where you will be considered a tax resident, how your pension income will be treated and whether you need to file tax returns locally.