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

A Look at QROPS for the USA

A Look at QROPS for the USA

It’s only really in the last two years that US residents holding British pensions have been able to benefit from transferring their scheme into a Qualifying Recognised Overseas Pensions Scheme (QROPS). Although HMRC have always approved the use of QROPS by those residing Stateside, and for providers to operate within the country, the IRS don’t

Seed Enterprise Investment Scheme

Seed Enterprise Investment Scheme

The Seed Enterprise Investment Scheme, also known as the SEIS or the Seed EIS, offers fantastic tax efficient benefits to investors while simultaneously encouraging investment in early stage start-ups in the UK. This invaluable sector is regarded as being integral to the economic growth of the UK. Initially introduced as a concept in 2011 by

Over 55s Underestimate Retirement Financial Needs

Over 55s Underestimate Retirement Financial Needs

Blowing retirement cash on luxuries when new easy access pension rules come into force next April may leave retirees short of money to pay the bills. The warning comes from financial firm Partnership, which claims most people approaching retirement do not have the cash to cover their day-to-day spending without the lure of the new

New Rules For Expats Borrowing Against UK Homes

New Rules For Expats Borrowing Against UK Homes

Expats wanting to take on new mortgages against their British homes will face a new set of tough lending rules under proposals from financial regulators. One of the side effects of the UK adopting the European Mortgage Directive is the impact this will have on expat borrowers. The directive is a template for mortgage lending