Inheritance tax planning is a complicated issue that requires careful attention. Under current legislation, UK Inheritance Tax is levied on estates valued at over £325,000 at a rate of 40%. It is little wonder that around £5.4 billion in revenue was collected in 2018/19 by HMRC! If you are an expat, inheritance tax could apply […]
British in France Seek Expat Pension Advice on Brexit
Understanding the full ramifications of Brexit is likely to be impossible for some time to come. Many people need guidance on their tax situation and also expat pension advice. The British in France can attend meetings and receive valuable guidance from the Embassy regarding a whole host of post-Brexit concerns. A series of meetings have […]
Financial planning and Brexit
There are many issues surrounding financial planning and Brexit that expats should be aware of. I’m going to make a bold prediction though. Life will go on even if the UK decides to leave Europe! I don’t say this glibly. History shows that every time major political and economic events rock our world, we can […]
Sustaining pension income in retirement
Sustaining pension income in retirement is a common concern for most of us. We work hard to build up our pension pots in the hope that come the glorious day of retirement we can sit back and enjoy the fruits of our labour. However, for those in Defined Contribution (DC) plans it’s still important to […]
Divorce and pensions: Breaking up is hard to do!
Divorce and pensions related issues can be complicated for parting couples. Divorce seems to be a topical issue these days, what with the pending Brexit divorce of the UK from Europe. Separating assets and agreeing payment of future commitments is difficult and can drag on for much longer than expected or hoped for. Some claim […]
The Spanish compliant investment bond
Thank goodness for the Spanish compliant investment bond! Each country’s tax code seems to have various ways of relieving us of our money. On the other hand, they also offer ways in which we can legitimately avoid taxation, as long as we purchase the correct financial products. In the UK most people are well aware […]
Pension freedoms are not free!
The advent of pension freedoms has altered the landscape for those planning their retirement. In an ideal world, everyone would be a member of a high quality Defined Benefit (DB) pension scheme, whereby a sustainable retirement income is guaranteed for the lifetime of the individual. However, for those who are either self-employed or prefer a […]
Cryptocurrencies for pension plans?
How suitable are cryptocurrencies for pension plans you may ask? There are literally thousands of cryptocurrencies available globally, but would you invest part of your SIPP or QROPS in one? Most of us have heard of the first entrants to the market and some might even have either dabbled in them or used them to […]
The collapse of Carillion and its defined benefit pension scheme
The collapse of Carillion has led to significant problems with the defined benefit pension scheme. Once again the politics of private enterprise providing public services has dominated the news. As it seems with everything politics-related, more heat than light has been produced with both main UK parties putting forward their points of view. The collapse […]
Spanish inheritance tax
Spanish inheritance tax along with general tax legislation falls under the banner of Napoleonic law. Succession and gift tax, Impuesto sobre Sucesiones y Donaciones (ISD), apply to beneficiaries of gifts and inheritances for Spanish tax residents. ‘Forced heirship’ rules determine how an estate must be divided and what rate of tax applies to beneficiaries. There […]
The end of cold calling for pensions
Could this be the end of cold calling for pensions? Way back in the early 1980s we saw the emergence of a new breed of financial adviser; the cold calling direct salesman. Eager new recruits were handed a telephone directory and told to call as many unsuspecting victims they could in order to secure appointments […]
Double Taxation Treaties and Overseas Pension Transfers
Double Taxation Treaties (DTTs) are legal mechanisms between countries which ensure individuals and companies do not pay tax twice on the same trade, asset or income in both the country of source and that of residence. As such, if a British person who is tax resident in Spain holds assets in the UK, the DTT […]
Brexit impact on the city of London
Ever since the UK voted to leave the EU, there has been speculation about the Brexit impact on the city of London. Latest research from Reuters suggests that up to 9,000 jobs may be relocated. Dublin, Frankfurt and Paris are considered to be the most likely destinations. Relocating abroad Moving to a new house and/or […]
Brelection 2017: What’s in store for pensions?
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 what is in store for pensions and possible changes to legislation? The answer is probably yes. If the […]
Investigation into investment funds
It seems that every time we open the financial press there’s a new story about failed funds. My recent investigation into investment funds that have been unsuccessful suggests that failure is often caused by managers rolling the dice once too often. Some are just bad ideas where the fund manager was trying to make a ‘silk […]