SEIS CGT Solution for Property Investors

SEIS CGT Solution for Property Investors

Property investors looking to sell up but worried about the capital gains tax implications can consider the Seed Enterprise Investment Scheme (SEIS). Capital gains tax (CGT) woes are a common worry for property investors who have held a buy to let or house in multiple occupation (HMO) for some years. But SEIS is an option […]

Early Access Pension Rules For Expats

Early Access Pension Rules For Expats

Many expats are asking how the new UK easy access pensions overhaul will affect their finances. To help expats and former international workers with UK pension rights make the best financial decisions over their retirement savings here are some answers to their most frequently asked questions. Will expats with UK pensions get early access to […]

Entrepreneurs Fear Their Rivals More Than Anything

Entrepreneurs Fear Their Rivals More Than Anything

So many new small businesses are starting that entrepreneurs fear their biggest business risk is competition. Thousands of companies are starting every month – and a quarter of entrepreneurs worry that their rivals will snatch their share of the market. Competition heads their list of concerns – others include dealing with red-tape (13%), the rising […]

US Expats Launch FATCA Legal Challenge

US Expats Launch FATCA Legal Challenge

American expats are mounting a legal challenge against the Canadian government because they are enraged that their financial secrets are being turned over to the US Internal Revenue Service (IRS) under the new Foreign Account Tax Compliance Act (FATCA). FATCA came into force on July 1, 2014, and Canada was one of the late signatories […]

Claiming Your UK State Pension From Overseas

Claiming Your UK State Pension From Overseas

If you are an expat about to retire and want to claim your state pension, you can still claim your pension by getting in touch with the International Pension centre. It’s likely that if you have spent some time out of the UK that the government has lost track of your overseas address. But claiming […]

Four ways to slash your tax bills with investments

Four ways to slash your tax bills with investments

Taxpayers looking for ways to reduce their income tax or capital gains tax bills can look at putting cash into one or more of five government backed investment schemes. Chancellor George Osborne is keen to offer investors in business and social enterprises tax breaks to make up the shortfall in money available to entrepreneurs and […]

Easy Access Pensions To Boost HMRC Tax Haul

Easy Access Pensions To Boost HMRC Tax Haul

New pension rules will generate a huge tax boost for government coffers, according to HM Revenue & Customs (HMRC). HMRC expects to gather £1.2 billion of income tax from retirement savers in the 2018-19 tax year – compared with around £320 million projected for 2015-16. The money will come from tax on easy-access drawdown of […]

Expats Catch An Expensive Cold Over Health Cover

Expats Catch An Expensive Cold Over Health Cover

British expats in Turkey are sick and tired with the government‘s meddling with private medical insurance rules. In April 2014, the government demanded all expats over 65 years old should take out compulsory private health insurance. Now, the decision has been overturned, leaving many expats with expensive insurance they no longer need. The issue came […]

First SEIS Companies Ready To Mature

First SEIS Companies Ready To Mature

Investors are eagerly awaiting the maturity of the first Seed Enterprise Investment Scheme (SEIS) companies. SEIS first hit the business investment scene on April 6, 2012 as the brainchild of Chancellor George Brown. He saw SEIS as a stop-gap for start-up firms that could not raise finance for research and development projects from the banks. […]

Pensions Twist Or Stick Decision For QROPS

Pensions Twist Or Stick Decision For QROPS

Expat retirement savers need to take stock of more new moves to change pension rules in the UK. Many expat retirement savers live overseas but keep their pensions in Britain, but even more rule tweaking could be on the way after Chancellor George Osborne announced changes in Budget 2014 to allow over 55s easier access […]

BRICS Lay Foundation For New World Economic Order

BRICS Lay Foundation For New World Economic Order

A brave new world order may be emerging almost unnoticed as an economic power shift is taking place, according to an investment expert. The trigger was the recent agreement between BRICS countries to set up a new development bank and $100 million currency fund. The BRICS countries – Brazil, Russia, India, China and South Africa […]

British Households Would Rather Spend Than Save

British Households Would Rather Spend Than Save

British savers are putting aside less money than those in many developed countries. The disappointing level of savings for British households shows that people are living more for today and spending rather than putting money into the bank. Britain ranks 11 in the table of 18 developed nations and is far behind the savings of […]

Boosting A Pension Pot With Revolving Contributions

Boosting A Pension Pot With Revolving Contributions

Retirement savers can boost their finances by taking advantage of a tax twist written into the government’s new pension rules. The top up method applies to couples over 55 years old with one partner still working after April 2015. All they have to do is claim pension contribution relief by using their pensions as a […]

Protecting Expat Cash In Offshore Savings Accounts

Protecting Expat Cash In Offshore Savings Accounts

Expat savers dealing with unfamiliar banks are unlikely to know how much of their cash is protected if the foreign bank goes bust. In Britain, the Financial Services Compensation Scheme (FSCS) safeguards up to £85,000 held by each person in accounts under a single banking licence. Each building society has a banking licence, but protection […]

Offshore Fixed Savings Rates – August 6, 2014

Offshore Fixed Savings Rates – August 6, 2014

A new three-year fixed rate bond from the Nationwide at a 2.3% interest rate is the only change in the top 20 offshore fixed rate savings table from last week. Nationwide does demand a £5,000 minimum deposit to get the deal – which is low in comparison to those required by many other banks and […]

95,000 Financial Institutions Enlist For FATCA

95,000 Financial Institutions Enlist For FATCA

More than 95,000 financial institutions are listed on the latest Foreign Account Tax Compliance Act (FATCA) list published by the Internal Revenue Service (IRS). With the publication of the third list on August 1, 2014, the number of financial institutions listed has mushroomed from 77,000 to 95,238 in just four weeks. The list shows financial […]

Week in Expat Money Matters 18th August – 24th 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: African Ebola Virus IS Worst Outbreak Ever Be under no illusions, the Ebola outbreak is a problem that could very soon affect countries outside of Africa. Over […]

101 Countries Sign Up For FATCA Network

101 Countries Sign Up For FATCA Network

Foreign Account Tax Compliance Act (FATCA) has been in force for a month and still more countries are joining the tax network. So far, 101 countries and financial jurisdictions have either signed or agreed to join FATCA. FATCA is aimed at identifying US taxpayers with offshore bank accounts and investments. Overseas tax authorities and financial […]

Expats Benefits Are A Thing Of The Past Say Recruiters

Expats Benefits Are A Thing Of The Past Say Recruiters

If you think expats live a life of luxury on a lavish benefits package providing housing, private schooling for the kids, a car and servants, then think again say recruiters. In a study of thousands of expats working in the high flying financial sectors of Singapore and Hong Kong, only a fifth have been employed […]

Pension Liberation Victim’s £42,000 Scam Suicide

Pension Liberation Victim’s £42,000 Scam Suicide

A victim of a pension liberation scam killed himself after losing £42,000 to crooks who tricked him out of his money. The anonymous man, aged 40, answered cold-call messages from pension liberation scammers who offered to unlock his pension early. The deal was to give him £17,000 cash after deducting fees from the pension. “He […]