Posh and Becks are set to join the 14 million strong expatriate community when they move to Spain ahead of David Beckham's four year deal with Real Madrid. An estimated 300,000 people move abroad to work each year, according to the Office for National Statistics.

But like others who consider living and working abroad the Beckham household will have to think hard about what they do with their home and other assets to avoid running into trouble with the taxman.

The first port of call for anyone leaving the UK to work abroad is a tax adviser. Normally you will become a 'non resident' for tax purposes if your employment abroad takes in a full tax year and you do not come back to the UK for more than an average of 91 days each tax year.

Despite this, any income earned in the UK, like interest on deposits or returns on investments, will be taxed in the UK. That is why some people transfer most of their assets offshore.

Your home could also land you with a hefty tax bill. Under UK tax rules only your main home is exempt from Capital Gains tax. So if you own another home, even in a foreign country, you could be liable to tax on any profit made when it is sold.

One way to avoid this is to buy and sell the new home during the period you are regarded by the tax-man as non resident.

Halifax's Head of European Operations Ian Smith said:

"If you want to buy a home in the country where you are going to be working you need to work out how you're going to finance it.”

"You can raise a new loan against your home in the UK but this depends on how much it is worth and your existing mortgage. But it's also worth looking at what is available in the country you're going to because rates in the UK are generally higher than they are in the Eurozone.”

"Through our Spanish operation, Banco Halifax Hispania, we have variable rate mortgages for up to 30 years at 3.502 per cent if you have a 30 per cent deposit. The rate reduces to 3.252 if you have a deposit of at least 40 per cent.”

"While sorting out finances might not be top of the to do list for the Beckham's it is vital for most people planning to move abroad. It is also important to check financial arrangements just before returning to the UK as well so that you can try to avoid extra tax liabilities."

Moving abroad checklist:

• Make sure you have all necessary documentation including visas and work permits.
• Ensure that you have registered your residency status with both the Inland Revenue in the UK and the appropriate authorities in the country you are moving to.
• Check medical arrangements.
• Consult a tax specialist.
• Arrange bank accounts in the country you are moving to.
• Make sure any regular payments in the UK are met while you are abroad and let your bank know of the move.
• Decide what you want to do about living accommodation abroad and your home in the UK.
• Advise insurance companies about changes that might affect policies including buildings and contents cover, health insurance and pensions.
• Tell everyone about your change of address, including National Savings just in case your premium bond numbers come up.
• Check your will and make sure it takes into account rules in the country where you will be living and any inheritance tax rules that might apply.
• If you want to ship some of your belongings arrange it well in advance.
• Remember some electrical items may not work abroad.