QROPS – Both Sides of the Coin

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Since 2009 the benefits of QROPS have been well documented, and rightly so. Many QROPS candidates have been able to find freedom and tax advantages by moving their pension abroad. However there are also potential pit falls for clients looking to transfer their funds. The main danger is represented by taking poor advice from somebody […]

Hopes Dashed As Investor Dream Returns Fade

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Investors need to mind the gap between expected returns and actual earnings, says a new report. Few receive the returns they expect from investments – and the gap is widening between real and imagined yields. According to global research by fund managers Legg Mason Global Asset Management, disillusion is increasing for investors who seem to […]

How The Tax Take Slashes Expat Spending Power

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Expats who want to move to a high-paying job need to consider more than just the headline salary rate as tax and social security can take a big bite out of even the best pay cheque. To help expats and multinational companies make the best decisions about salaries, a new report outlines the rates and […]

Statutory Residence Test explained

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Figuring out if you live in the UK or has a big impact on where an expat pays tax – and how much they pay. The statutory residence test started from April 2013 with the aim of simplifying the decision making, but the questions and conditions still take a lot of working through to arrive […]

Older Workers Can Still Give A Lot In The Workplace

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An ageing workforce should be seen as an opportunity rather than a challenge for business, according to a new report. Employers forget or overlook that older workers can bring experience and contribute to growth if a business has the right support and policies to include workers approaching or past retirement age, says the Organisation of […]

Pension Liberation Firms Target Young Savers

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Pension liberation firms are tricking retirement savers to cash in their funds by claiming new rules in Chancellor George Osborne’s Budget 2014 allow them early access to their cash. The move is a change of tack by pension liberation advisors who are targeting savers under the age of 55 years old. Although the new rules […]

Budget 2014 Pensions Reforms Offer New Found Freedom

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George Osborne’s announcement relating to the proposed UK pension reforms has created shockwaves through the industry, particularly for insurers who were formerly able to benefit from the tax regulations which meant that savers were systematically encouraged to invest their available funds into annuities rather than withdrawing lump sums. This will no longer be the case […]

QROPS & the Budget of 2014

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Much has been written about the impact that the Chancellor’s budget announcement has, and will have on the QROPS industry, however when the bullet points are researched in slightly more depth, the impact felt by most of the QROPS market will be negligible as things currently stand. The Changes As of 6th April 2015, the […]

Poundland Entrepreneur Takes On Estate Agents

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Piling high and selling cheap paid off for Poundland entrepreneur Steve Smith – and now he wants to apply the same methods to selling homes. Smith earned £50 million from his stake in Poundland, starting from a single store in Burton-on-Trent, Derbyshire. He left the business in 2002, but Poundland has gained in strength and […]

Financial Firms Attacked Over Rip-Off Call Charges

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Consumer watchdogs are investigating whether financial firms charge rip-off phone charges to customers. The inquiry follows a complaint from consumer group Which? alleging the firms make customers pay unnecessary call charges when they phone to discuss their accounts. The call for action follows more than 87,000 people signing up to a campaign protest against the […]

Public Pension QROPS Transfers – The Story So Far

Pension advisers are warning that Chancellor George Osborne may be thinking about closing the door on Qualifying Recognised Overseas Pension Schemes (QROPS) transfers for civil servants and public sector workers. Osborne has already indicated he is considering different pension rules for retirement savers in defined benefit or final salary pensions paid by councils or the […]

Expats Face Jail And Deportation In Visa Crackdown

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Expats in Saudi Arabia face fines, jail and deportation for visa violations as the police crackdown on illegal workers. Saudi Arabia has around 9 million expat workers – down a million from last year after the government offered an amnesty to those living and working in the country illegally. The Saudi government decided to enforce […]

EU House Prices Still Stuck In The Doldrums

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House prices nudged down slightly at the end of last year – but the biggest price drop was in Eurozone countries. Across the European Union (EU), values fell a negligible 0.1%, while the single currency zone saw prices fall 1.4%. The figures come from Eurostat, the official statistical body for the EU and cover the […]

Investigating Investment Firms Can Pay Dividends

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The choice of online fund managers is massive and often leaves investors perplexed about which companies are consumer-friendly and offer the best deals. One simple measure is data from the Association of Investment Companies (AIC) web site which ranks the most viewed companies visited from the AIC in the first three months of the year. […]

When to use a ‘third country’ QROPS

When to use a ‘third country’ QROPS

Since 2006, individuals with a UK pension who either plan to live or do live abroad can transfer their funds into a Qualified Recognised Overseas Pension Scheme – or QROPS. Once a transfer has been made, and the member has lived outside of the UK for five years, the fund begins to follow the legislation […]

Confused Consumers Slip Into Pensions Black Hole

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Retirement savers are so confused about pension rules almost two-thirds intend to consult an independent financial adviser about their options. But for many, taking advice is an expensive choice as more than half of pension savers approaching retirement have funds of less than £40,000 and IFA fees of up to £3,000 could take a big […]

Frozen State Pension Campaign Gets Icy Response

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British retired expats have taken their fight to unfreeze their state pension payments to the heads of state of the Commonwealth nations. In a campaign fronted by Tory MP Sir Peter Bottomley, thousands of expats have battled with the UK government to have their state pensions index-linked in the same way as retirees in the […]

Global Policies See More Earners Paying Extra Tax

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Investors and workers are paying more tax in three-quarters of the world’s leading economies as governments slash the value tax-free allowances and tax credits. More people are also paying extra tax as governments bring down the limits for paying higher rate tax, according to a study by the Organisation of Economic Co-Operation and Development (OECD). […]

FCA Warns Pension Firms To Put Customers First

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Financial firms have been warned not to disadvantage customers when giving advice about Chancellor George Osborne’s new Budget 2014 pension rules. The Financial Conduct Authority, which polices financial advisers and pension providers, has issued a set of guidelines telling firms what they should tell consumers who want to cash in their pension lump sums under […]

Osborne Declares War On Offshore Tax Avoidance

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Chancellor George Osborne wants to make stashing cash in secret bank accounts and investments offshore a crime for British taxpayers. In a legal U-turn, proposals for a new law shift the balance of proof from HM Revenue & Customs (HMRC) to the taxpayer. So, instead of the tax authority having to prove someone has offshore […]