FATCA Fears For Americans Selling Homes In Canada

FATCA Fears For Americans Selling Homes In Canada

Americans living in Canada fear they may have to pay huge capital gains tax bills when they sell their home as a result of the new US Foreign Account Tax Compliance Act (FATCA). The issue concerns a rule buried in reams of Internal Revenue Service (IRS) tax guidance that states any US taxpayer selling a

Crowdfunders Sow The Seed For SEIS

Crowdfunders Sow The Seed For SEIS

Crowdfunding platforms are opening a new market for investors with cash to back entrepreneurs and their startups. Several crowdfunding platforms have tagged investments that attract tax incentives under the Seed Enterprise Investment Scheme (SEIS) and Enterprise Investment Scheme (EIS). The realisation is that startups qualifying for SEIS or companies looking for second stage funding under

10m Indian Expats Win Right To Vote

10m Indian Expats Win Right To Vote

Indian expats will soon gain the right to cast electronic votes from overseas as the government opted to adopt the measure under pressure from the courts and lobbyists. India has around 10 million non-residents entitled to vote – with around half living in the Gulf States. The Electoral Commission recommended allowing expats to vote online

Expat Savings Rates – January 21, 2015

Expat Saving Rates: December 3, 2014

The big currency news of the week is the shock decoupling of the Swiss Franc from the Euro. As a result, the franc has surged in value by 30%, while the struggling Euro is losing value against Sterling and the US dollar. Money experts are suggesting that savers should flee the Euro to a safe

Working out the expat cost of living

Working out the expat cost of living

Cost of living is just one of the factors expats and international workers have to take into account when moving overseas. For working expats, bulging pay packets and low or no tax does not necessarily mean low day-to-day living expenses. For retired expats living on a budget, the cost of living is also an important

Mystery As Entrepreneurs Snub SEIS Cash

Mystery As Entrepreneurs Snub SEIS Cash

Entrepreneurs outside London and the South East are shunning investment available under the Seed Enterprise Investment Scheme (SEIS). Either they do not know about the incentives for startup investors or are simply seem to ignore them. SEIS was introduced by the government in 2012 as a tax incentive to raise cash for startup companies considered

Malta QROPS Open Way For 100% Pension Drawdown

Malta QROPS Open Way For 100% Pension Drawdown

Malta Qualifying Recognised Overseas Pension Schemes (QROPS) are jumping on the flexible access bandwagon. The Malta Financial Services Authority as amended local regulations in favour of QROPS based on the Mediterranean Island following the new flexible access pension rules administered by HM Revenue & Customs (HMRC) in the UK from April 6, 2015. For retirement

Is deflation good or bad?

Is deflation good or bad

Deflation is the watchword of economists as inflation drops in many of the world’s leading economies and the spectre of deflation looms large for many governments. Inflation is an increasing cost of living, while deflation is a fall in day-to-day costs. Several economies are in or around deflation, including the Eurozone, which is already there,

Expat Pensioners Urged To Rekindle Winter Fuel Fight

Businessman with a snow shovel and briefcase

Expat pensioners are trying to rekindle their battle to stop the British government taking away their winter fuel allowance. British MP Roger Gale has today tabled a motion in the House of Commons to axe the new law scrapping paying the allowance to expat pensioners in countries where the average winter temperature is higher than

Pensioner Bond Web Site Crashes In First Hour Live

Pensioner Bond Web Site Crashes In First Hour Live

A flood of online applications on the first day high interest pensions bonds have gone on sale has crashed the National Savings & Investment web site. Within an hour of the bonds going on sale, the web site slowed to a crawl and the NS&I press office issued a statement asking customers to be patient

Companies House Reveals Startup Hot Spots

Companies House Reveals Startup Hot Spots

A record 581,000 new startups registered with Companies House last year, according to new research. London led the way for entrepreneurs with more than 180,000 new companies. Other startup hotspots for entrepreneurs included Birmingham, with more than 18,000 new companies and Manchester just tipping the 13,000 mark for startups. Unsurprisingly, the number of startups was

Expat Savings Rates – January 15, 2015

Expat Saving Rates: December 3, 2014

As the Bank of England holds savings rates at 0.5% and UK inflation has dropped to 0.5%, banks and building societies are sitting tight on their rates. They also face completion from UK pensioner bonds which went on sale today offering fixed rates of 2.8% over 12 months and 4% over 36 months. The only

QROPS LIST – January 15, 2015

QROPS-List

After a New Year spurt, the number of new Qualifying Recognised Overseas Pension Scheme (QROPS) opening has slowed. With the addition of Kosovo, Kenya and the Falkland Islands to the number of financial centres offering QROPS in the past few weeks and a surge in the number of schemes opening, it was likely the market

Big Spending Pensioners Plan To Blow Their Cash

Big Spending Pensioners Plan To Blow Their Cash

One in six 55-year-old retirement savers intend to access their pension straight away under new flexible access rules that start from April. But many are worried their cash will not last for their lifetimes. One in eight believe their pension cash will last just 10 years, while most have worked out that they need enough

Amazon Eyes New Marketplace For Startups

Amazon Eyes New Marketplace For Startups

Amazon may be planning to muscle in on markets for entrepreneurs and startups with a new online platform, according to industry insiders. Crowdfunders and entrepreneurs have watched the Amazon space with interest for several months as the company has quietly put out feelers and marketing executives and IT specialists with an interest in helping inventors

Worst Year For Air Fatalities For A Decade

Worst Year For Air Fatalities For A Decade

Flyers have seen a tragic spate of air accidents in the past year. The latest was the deaths of 162 passengers aboard an Air Asia Flight QZ8501 which vanished over the Java Sea on a short haul flight from Surabaya, Indonesia to Singapore. Underwater drones have at last found the wreckage on the seabed after

Ombudsman Makes First Pension Liberation Rulings

Ombudsman Makes First Pension Liberation Rulings

The Pensions Ombudsman has finally ruled on three pension liberation complaints about blocked transfers after a year of deliberating over the claims. The ombudsman is thought to have a backlog of around 100 pension liberation cases and these are the first rulings. In each, the ombudsman has backed the refusal of pension providers to block

QROPS Start 2015 On A New High

QROPS Start 2015 On A New High

The global Qualifying Recognised Overseas Pension Scheme (QROPS) market started 2015 on a record high. With 3,634 QROPS pensions offered by 45 financial centres worldwide, retirement savers have never had so many schemes to choose from. Putting 2014 into perspective for QROPS – 412 new pensions opened for business 31 pensions closed 3 new financial

Flexi-Drawdown Rules For QROPS Published

Flexi-Drawdown Rules For QROPS Published

New Qualifying Recognised Overseas Pension Scheme (QROPS) draft legislation has overhauled the rules for offshore pensions, bringing them into line with flexible access rules for UK pensions. The problem was QROPS rules dictated that providers had to ring fence 70% of the fund to provide a lifetime income for the retirement saver. This requirement meant

Time’s Against SEIS Investors And Budget 2015

Time’s Against SEIS Investors And Budget 2015

If you are waiting to invest in the Seed Enterprise Investment Scheme (SEIS), then Chancellor George Osborne’s timing for Budget 2015 could leave you out in the cold. To date, he has dropped no hints about tax breaks for startup investors next year – but he has progressively reduced the incentives since SEIS started in