Just when we thought that electioneering was the favourite pastime of politicians on mainland Europe, up pops Theresa May with her shock announcement of a UK general election to be held in June. Should we be concerned about changes to pension legislation? The answer is probably yes. If the Tories win as predicted, I expect them […]
HMRC ROPS
The rules relating to the taxation and regulation of overseas pension schemes are to be updated so that they are consistent with those of UK pensions. HM Revenue & Customs (HMRC) announced in a recent draft of the Finance Bill that as of April 2017, all recognised overseas pensions schemes (ROPS) located outside of the […]
Pensions and interest rates
Pensions and interest rates: the good, the bad and the ugly news! The old saying goes, ‘I have good news and bad news, which would you like to hear first?’. Given this choice, a majority prefer to hear the bad news first. The recent reduction in UK interest rates to 0.25% in response to pressures […]
Retiring to the Algarve
Retiring to the Algarve in Portugal can be an attractive proposition for many expats. Along with the obvious lure of the ‘sun and sea’, there is also the added benefit of low taxation for retirees. Tax competitiveness is a well-established way of attracting the people you want to work or live in your country. The […]
Sink or swim: Brexit and expat pensions
Wouldn’t it be great if, amongst all the excitement and hype, British expats had some information that could actually be of use to them regarding the pending EU referendum? There are many retired British expats in Europe; there are also many Brits currently working in the EU. Unfortunately, there is a distinct lack of clarity […]
UK pension changes: reasons to be cheerful
Whether you live in France, Spain, Canada, Australia, or some other far-flung region of the world, there are reasons to be cheerful for British expats about changes in the UK pension system. As we start the new UK Tax year, let’s take the opportunity to recap on some of the reforms and see how UK […]
Offshore accounts – Is tax avoidance legal?
The media has been buzzing recently with revelations about how HSBC has assisted prominent members of the business community, high society acolytes and politicians with their personal tax affairs. Allegations and counter-allegations dominate Prime Minister’s Question Time in parliament with both sides accusing each other of encouraging evasion. The question of what is evasion and […]
Tips on how to transfer funds abroad
No such thing as a free lunch, or is there? From time to time we all find ourselves having to transfer funds abroad. I myself had to transfer a fairly modest amount recently and decided to check the many specialist currency exchange companies to see if I could better the rate quoted to me from […]