If You Were Scammed, You Might Be In For A Refund

Expats are among the thousands of fraud victims who may have a chance of getting their money back after wire transfer firm Western Union settled a multi-million-dollar court case. Western Union is an international money transfer network that has admitted money laundering and other criminal offences. To settle the case, Western Union paid the … [Read more...]

Rich Are Getting Richer, While Poor Live In Poverty

More than 80% of entire global wealth is controlled by the richest 1% of the population, according to a report by charity Oxfam. And while billionaires continue to get richer, the 3.7 billion people making up the poorest half of the world’s population saw no improvement in their finances. The study Reward Work, Not Wealth, argues that the … [Read more...]

86% Of Retirees Depend On State For Their Income

Spend today without worrying about saving for tomorrow is a state of mind undermining pension saving. Millions of people make no effort to save for their retirement while working and expect the meagre state pension of around £7,000 a year to cover their bills. Instead of saving to give a safety cushion between paying day to bills and the … [Read more...]

What Happens To Your QROPS When You Die?

The question is uncomfortable for many expats, but prudent financial planning means looking after your family and loved ones when you die. Qualifying Recognised Overseas Pension Schemes (QROPS) fall under the same inheritance rules as UK pensions – plus an extra tax-free boost for expats who are left a share of any unspent pension money. The … [Read more...]

Moving Gold-Plated Pensions To QROPS Is No Longer Taboo

Switching a final salary pension to an offshore Qualifying Recognised Overseas Pension Scheme (QROPS) is a taboo topic for many IFAs for no good reason. A final salary pension is undoubtedly one of the most generous pensions any retirement saver could expect. Offered by a dwindling number of employers, the pension offers a retirement income … [Read more...]

EIS Rule Changes May Restrict Start-Up Tax Break Investments

Rule changes impacting cash for shares tax incentives for investors in new companies could wipe out half the market, according to financial experts. They predict too much money will be chasing too few investment opportunities from April, when the government rule change takes effect. The measure affects Enterprise Investment Scheme and Seed … [Read more...]

Private School Fees In A Class Of Their Own

Britain's private school fees are racing up at almost four times the rate of inflation and average earnings. Expats with children receiving a private education have seen the cost spiral by 21% in five years. Someone on an average UK gross salary of £35,148 a year needs to hand over 39% of their earnings to pay the day fees of £13,000 for one … [Read more...]

War Of Words As US And Turkey Suspend Visas

US Secretary of State Rex Tillerson may have praised Turkey as a partner of America in the fight against terror but his words do not seem to reflect the true nature of the relationship between the countries. Turkey is a key member of NATO, sitting strategically facing Russia across the Black Sea, having borders with the former Soviet empire … [Read more...]

SIPPs For Expats Explained

SIPPs are ideal for expats away from the UK for a year or two who want to carry on retirement saving with all the tax advantages of staying at home. An important rule about SIPPs is pension savers do not have to stay in Britain to gain all the benefits of a UK pension – they must retain residence. Residence is a matter of fact, not choice, … [Read more...]

Move To Make QROPS Transfers Easier For Expats

The British government suspects strict rules about transferring pensions worth more than £30,000 to a Qualifying Recognised Overseas Pension Scheme (QROPS) are putting some expats at a financial disadvantage. The Department of Work and Pensions is considering whether to scrap the need for expats to seek advice from an adviser regulated in the UK … [Read more...]