Seven Ways To Boost Retirement Income

Seven Ways To Boost Retirement Income

Everyone could do with boosting the amount of cash in their pension fund for retirement. That extra cash can help you give up work earlier, phase in retirement by working part time or go towards a few more of life’s luxuries. However, not everyone knows how to make the most of their retirement savings. So […]

Saving Stamp Duty On £1 Million Plus Properties

Saving Stamp Duty On Million Plus Properties

Chancellor George Osborne’s continual tinkering with stamp duty rules for expensive homes has discouraged many wealthy expats and foreign buyers from purchasing property in Britain. What many prospective buyers do not realise is meddling with Stamp Duty Land Tax rules has left some gaps that purchasers can exploit to save money. Typically, the amounts to […]

QROPS Tracker – August 1, 2014

QROPS Tracker

Despite occasional setbacks like last month’s surprise suspension of 115 Qualifying Recognised Overseas Pension Scheme (QROPS) , the offshore pensions market keeps marching on. Since QROPS were introduced on April 6, 2006, the number of pensions has rocketed from zero to a record 3,423 schemes with the publish of the most recent QROPS List by […]

How Social Investment Tax Relief Works

How Social Investment Tax Relief Works

Social Investment Tax Relief (SITR) is an investment offering tax relief to wealthy good Samaritans who put money into social enterprises to help less well-off people and communities. Some consider the scheme as a way for the government to raise finance for social projects that cannot raise public funds because of spending cuts. Others believe SITR […]

Offshore Fixed Savings Rates – July 31, 2014

Offshore Fixed Savings Rates – July 31 2014

Most offshore fixed savings rates remain unchanged – but the Nationwide is offering a new three-year bond. At 1.80% for a minimum deposit of £5,000, the rate is conservative and lacks excitement for expats who can pick up better rates over the same term elsewhere for depositing the same cash. Conister Bank is offering 2.50% […]

Rising Wealth Links To Increasing IHT Payments

Rising Wealth Links To Increasing IHT Payments

The latest official Inheritance Tax (IHT) statistics reveal the link between wealth rising as the economy improves and the amount of tax paid. Although Prime Minister David Cameron promised to raise the IHT threshold to £1 million to stop hardworking families bearing the brunt of a tax aimed at raising cash from wealthy estates, he […]

Coming Home? The Get Your Finances Sorted Out

Coming Home? The Get Your Finances Sorted Out

Expats give a lot of thought to their tax status when they leave the UK to move permanently overseas or to take up a temporary posting – but few think about tax when they come home. The problem comes for non –residents who have assets in foreign countries that may attract capital gains tax if […]

Ticket Stubs And Diaries Are Vital Expat Tax Tools

Ticket Stubs And Diaries Are Vital Expat Tax Tools

Most expats forget about their tax status once they have left Britain and assume they pay taxes in the country where they live. To some extent this is true – but HM Revenue & Customs regularly challenges the validity of non-residence claims and the long-arm of the tax man can extend over many miles and […]

Week in Expat Money Matters 11th August – 17th August 2014

Below are the articles from last week, documenting events from the world of expatriate finance, as reported on iExpats and from other places across the web: From iExpats.com: Boko Haram Bombings Sparking Travel Warning With the ongoing terror attacks in Nigeria, the foreign office is advising against a visit to the troubled African country for […]

African Ebola Virus IS Worst Outbreak Ever

African Ebola Virus IS Worst Outbreak Ever

The worst outbreak of the deadly Ebola virus is sweeping across four countries in Africa. The Ebola epidemic is the worst by geographical spread and the number of people infected. So far, the virus has claimed victims in Sierra Leone, Liberia, Nigeria after the first reported case were in Guinea earlier this year. The most […]

Teachers Pension Transfers to QROPS

Expat Teachers: Many Opting to Transfer Pension to QROPS

In the wake of the recent announcements following the UK pension consultations, teachers, as well as the majority of public sector employees are facing up to an uncertain pension future. As of April 2015, restrictions will be put in place which essentially prevents the transfer of any unfunded defined benefit schemes into a more beneficial […]

New Tax And Pension Measures To Hit Expat Finances

New Tax And Pension Measures To Hit Expat Finances

The government is planning more tax and pension blows to hit expats in the pocket. Following an announcement to charge overseas residents capital gains tax on the sale of homes in Britain, the next expat targets are the £10,000 a year personal income tax allowance and halving the state pension deferral rate. Financial experts claim […]

Corporate Bond Fund Shopping Guide

Corporate Bond Fund Shopping Guide

Corporate bond fund investors have been issued with a check list of points to consider when shopping for a deal by financial watchdogs. The Financial Conduct Authority (FCA) wants investors to be more aware of the risks and returns associated with corporate bonds, so has drafted the crib sheet to explain the details of corporate […]

Magic Roundabout sees 15,000 businesses start

Magic Roundabout sees 15,000 businesses start

London’s Silicon Roundabout is the place where most new businesses are starting in Britain, according to figures from industry experts. The magic ‘EC1V’ postcode, which takes in The Angel, City Road and Old Street, saw 15,620 new start-ups in the last tax year, says accounting firm UHY Hacker Young. The firm says that outpaces new […]

QROPS Transfers – Safeguarding Expat Pension Cash

QROPS Transfers – Safeguarding Expat Pension Cash

Switching cash between pensions and triggering tax penalties and losing cash to fraudsters is a hot topic of concern for many retirement savers. Pension liberation has cost honest retirement savers a fortune in advice costs, fines and some have even lost all their money to crooks. So, quite rightly, many expats considering a transfer from […]

Money And Fear Of Failure Holds Back Entrepreneurs

Money And Fear Of Failure Holds Back Entrepreneurs

Raising start-up finance is the main barrier holding back entrepreneurs from starting innovative businesses in the UK, according to a new study. Highly qualified graduates who pick up business ideas from their employers are identified by the report Venturing Forth: Increasing high value entrepreneurship as the key players in the market. The report, published by […]

Door May Be Closing On Public Sector QROPS Switches

Door-May-Be-Closing-On-Public-Sector-QROPS-Switches

The clock may be ticking for local government and civil service employees who might want to switch their pensions overseas to a Qualifying Recognised Overseas Pension Schemes (QROPS). Chancellor George Osborne announced in Budget 2014 that a ban was probably on the way against transferring public sector pensions into other schemes, including QROPS, from April […]

SiPP Complaints Up 50%, Says Financial Watchdog

SIPP

The number of complaints to financial watchdogs by disgruntled pension investors angry about losing money in risky investments has increased by 50% in just a year. The Financial Ombudsman is handling more than 1,000 gripes from savers with self-invested personal pensions (SiPPs) and small self-administered schemes (SSASs). The Financial Ombudsman’s annual report shows the number […]

Social Investment Tax Relief (SITR) Investment FAQ

taxes

Ethical investors financing social enterprises and community projects can pick up income tax and capital gains tax reliefs in return for the use of their cash with Social Investment Tax Relief (SITR). SITR is a new tax break introduced in Budget 2014 by Chancellor George Osborne. The advantages and features for investors have been overshadowed […]

QROPS Transfers for South African Residents

QROPS Transfers for South African Residents

Those expats residing in South Africa that opt to leave their UK pension where it is leave their funds subject to UK pension legislation. And despite the most recent Budget announcements declaring that the fundamentally restrictive nature of the UK pension market is over for now, there is still much work to be done separately […]