Fleeing Debts Is No Escape For British Expats

Fleeing Debts Is No Escape For British Expats

Expats who escape to a new life overseas leaving a pile of debts behind in Britain may be in for a nasty financial shock. Many believe that if they are outside the reach of British courts, they are also beyond the reach of their creditors. But this is not necessarily the case, depending on who

Big Investments Can Blur The Vision Of Entrepreneurs

Big Investments Can Blur The Vision Of Entrepreneurs

Bringing in high-powered investors can blur the vision entrepreneurs have for their start-up businesses. One successful businessman who has been through the seed capital and rounds of growth funding from investors argues the experience brought chaos to online freelance portal people Per Hour. Xenios Thrasyvoulou set the firm up and within a year raised £500,000

GAD rates to disappear with pension reforms

GAD rates to disappear with pension reforms

The fall-out from the government’s new pension rules taking place in April 2015 includes the abolition of the notorious GAD rate that caps how much income retirement savers can take from their pensions. The GAD rate is set by the Government Actuary Department (GAD) and reflects standard annuity rates and limits how much pension cash

World’s Wealthiest Are Giving Away Their Fortunes

World’s Wealthiest Are Giving Away Their Fortunes

The world’s richest people give away more money than most average workers can ever dream of earning in their lifetime, according to new research. Profiling wealthy philanthropists, the report reveals these rich do-gooders hand out an average $25 million, are aged around 64 years old and have an average net worth of $240 million. The

British Expats Still In Love With Australia

British Expats Still In Love With Australia

British expats still rate Australia as the best place to live in the world – but other destinations in the Asia Pacific are seeing a surge in expat popularity as well. Australia was voted top by 90% of British expats who have moved out there. They told researchers for the NatWest International Personal Banking Quality

FATCA Wilfulness Problems For US Taxpayers

FATCA Wilfulness Problems For US Taxpayers

If you are a US taxpayer with overseas bank accounts or investments, you need to take immediate steps to show you are reporting your overseas earnings to avoid tax penalties under Foreign Account Tax Compliance Act (FATCA). Now FATCA is in full swing with foreign financial institutions filing reports on the financial activities of their

Week in Expat Money Matters 13th October – 19th October 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: FATCA Tracker – October 01, 2014 Who are the latest additions to the apparently unstoppable FATCA train? We provide an update on the latest institutions to agree

Dubai Property Prices Starting To Cool At Last

Dubai Property Prices Starting To Cool At Last

The Dubai property prices are starting to cool after soaring prices brought fears of another bubble to the market. The United Arab Emirate’s city is still clearing up after this year’s Cityscape property expo, but developers and agents feel concerns about a runaway housing market are overstated. The expo was attended by more than 300

Ebola Could Spread To Europe Within Weeks

Ebola Could Spread To Europe Within Weeks

Scientists are predicting the deadly Ebola virus that has killed more than 3,400 people in West Africa this year could jump continents into Europe before the end of the year. The epidemic has spread quickly across West Africa since March, affecting thousands and killing many of those infected. World Health Organisation (WHO) scientists working to

FATCA Tracker – October 01, 2014

FATCA Tracker

Nearly 105,000 financial institutions are listed on the US Internal Revenue Service (IRS) database of Foreign Account Tax Compliance Act (FATCA) organisations complying with the tax reporting rules for US citizens. The latest list was published on October 1, 2014 by the IRS and shows 104,344 financial organisations have signed up to the tax information

Pension Fraudsters Cash In On New Rules Confusion

Pension Fraudsters Cash In On New Rules Confusion

Pension liberation fraudsters are ruthlessly targeting retirement savers in their 50s, according to new research. The scammers are exploiting a lack of knowledge about the age when the over 50s can access their pension cash as the study by financial firm Fidelity shows two-thirds are confused about when they can take their pensions. One in

Expats in Qatar: Pensions & QROPS

Expats in Qatar Pensions & QROPS

Qatar has emerged as a destination of real attraction for British expats, keen to take advantage of the high tax-free salaries and luxurious lifestyle offered by relocation to the wealthiest country in the world. Sectors such as oil, construction and IT in particular are flourishing in the oil-rich state, and with Doha now arguably soon

Seed Enterprise Investment Scheme, Government are on the Right Track

With Seed Enterprise Investment Scheme, Government are on the Right

When the Government claim they are committed to assist, one could be forgiven for a modicum of skepticism. Such is the gulf between the politician and the voter in the UK that disconnection has never been such an issue, a case exhibited by the worrying numbers turning out currently for former Tory to UKIP candidates.

QROPS Tracker – October 1, 2014

QROPS Tracker

Only 30 Qualifying Recognised Overseas Pension Scheme (QROPS) have delisted or been suspended in the past year as the offshore pensions market stabilises for retirement savers. QROPS started in April 6, 2006, and the early years saw significant tussles between HM Revenue & Customs (HMRC) and providers as clever lawyers and tax experts tried to

Keeping A Close Eye On Offshore Savings Rates

Keeping A Close Eye On Offshore Savings Rates

Failing to keep an eye on offshore savings accounts can cost expats money. Banks and building societies open and close savings accounts regularly and without notice – and one of the big bugbears for expats is they do not tell you when so you can shift your cash to a better paying account. If an

New Pension Rules Open Back Door To Avoid IHT

New Pension Rules Open Back Door To Avoid IHT

Scrapping the 55% death tax on unspent pension cash has opened the door on a new way to avoid inheritance tax for the wealthy. Chancellor George Osborne’s announcement should be welcomed by anyone stuck in a tax trap because their estate is valued over the £325,000 inheritance tax threshold. Instead of elaborate estate planning or

Wish We Were Back Home, Say One In Five Expats

Wish We Were Back Home, Say One In Five Expats

Sun, sea and a more relaxing lifestyle may be a big draw for expats moving overseas – but they still miss home. The miserable weather quickly changing from wind and rain to a bright day is a joke for many, but one of the main things they miss about home to many. This was the

Financial Watchdog Warns Over Bogus Web Sites

Financial Watchdog Warns Over Bogus Web Sites

Financial services watchdogs are warning an increasing number of scam web sites designed to look like real businesses are appearing online. The Financial Conduct Authority (FCA) has voiced concerns about clone web sites in a briefing to financial firms. The FCA web site lists more than 3,000 bogus financial advisers – and hundreds of these

Week in Expat Money Matters 7th October – 12th October 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: Luxury Home Buyers Hit By Surprise 45% Tax New stealth tax introduced in the UK? Not exactly a shock is it? So what’s the deal with this

Why Alibaba Broke The IPO Rules For Investors

Why Alibaba Broke The IPO Rules For Investors

Warning signals generally ring out for professional investors when a huge private business decides to opt for an initial public offering (IPO) on the markets. Three questions should spring to mind for investors – Who is selling? Why are they selling? Can anyone massage the IPO share price by inflating earnings and expectations for the