Expat Network: 25 Years of Excellence Serving the Expatriate Community.

 

Top Savings Rates For Expats – December

Many expats can benefit from using offshore bank savings accounts. They are useful for working in different currencies and for gathering interest without deduction of taxes.   By Iain Yule See the article ‘British Expats – Do You Need An Offshore Bank Account’.   The best current offering for sterling offshore savers is Standard Bank’s 1.4%, i ...

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Sponsored: Save On Your Currency Transfers

If you’re a British expat with an international money transfer requirement, save by using a currency specialist. The British expat community has grown exponentially in recent times – in total, more than 5 million of us currently live abroad; with an estimated 123,000 jetting off to pastures new last year alone. By Smart Currency So, where do the adventurous among us to tend to gravitate? Wit ...

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Tax On A Move Back To Canada?

I am a Canadian non-resident in the Czech Republic. I plan to return to Canada in two years’ time to finish working and eventually retire. I filed a T1 General form for 2015 as I had a small amount of interest income from a bank account I hold in Canada. Must I always report interest income? I also want to transfer money into a Canadian investment account. Michael Atlas of TaxCA.com answered this ...

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Tax And Residence Rules For British Expats

You can still be liable for UK income tax even if you think you are safely non-resident. Make sure you pass the statutory residence test, writes Iain Yule. The UK’s statutory residence test is a welcome development after the old system, say advisers at expat specialists Blevins Franks, and provides much more certainty. However for more complicated cases it can still be rather complex and it is imp ...

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Looking To Transfer Your Expat Pension?

Expats generally have the right to transfer their pension abroad into a qualifying scheme.  For some, the benefits of doing so are manifold.  However, there are risks, and it’s fair to say that you need to tread very carefully when considering all your options. By James McLeod, Head of Pensions at chartered financial planners AES International. The majority of British expats lose the right to bene ...

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Puzzles Over Expat Pension

I am unsure if my overseas pension (QROPS) is free from UK inheritance tax? It seems the case if you remain offshore, but is a bit grey if you come back to the UK – even after five years away. Stuart Ritchie, Chartered Financial Planner & Chartered Wealth Manager with expat financial advisers AES International, answered this question. I am unsure if my overseas pension (QROPS) is free fr ...

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UK Tax On Guernsey Portfolio?

I have a query regarding my tax situation. I am British and have been working in Austria for the past 18 months or so. I have quite a large sum invested through an asset manager in Guernsey – in investment trusts, exchange traded funds, real estate investment trusts etc. Could you possibly tell me if there are any UK tax liabilities on these investments? Adam Thompson, tax manager at expat f ...

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