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British Pensioners Could Face £10bn Being Wiped From Pension Pots

According to an analysis conducted by financial advisory consultancy, Hoxton Capital Management, the average pension pot of over-65 Britons living abroad has reached £210,000. In volatile years, they report, currency market fluctuations removed as much as 20% from British pensioners’ spending power. Based on the amount of British citizens aged 65 a ...

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Where Am I Resident For Tax Purposes?

What is my tax status? I have been an expat since 1982 in the Falklands then the Philippines, apart from one year back in the UK in 1989. I believe I am not resident of the Philippines but a ‘tourist’. The Falklands is paying me a pension and the RAF is about to.  Jason Porter, director of expat financial advisers Blevins Franks, addressed this question, though he pointed out he is not able fully ...

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As An Expat, Why Do I Pay Tax On My UK Pension?

Are you tax resident in the UK? I have lived in Thailand for 12 years and am now 74. I have only been back to the UK once in that time so I consider myself non-resident in the UK. I have been paying UK tax on a private pension since the age of 66 though I have not set foot in the UK in that time. Surely that makes me a non-resident, so why am I paying tax? You are non-UK tax resident, and Thailand ...

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Do I Need To File A UK Tax Return As A Retired UK Expat?

I am a UK retired expat and left the UK in 2006 and have been travelling since then. I divide my time between Asia and Europe, no longer than 3 months in any one country at a time.  I have not filled in tax returns, in that time, but am now looking to settle in Asia full time. What, if any, are my tax liabilities, considering I have been constantly travelling? Trevor Trew of Trew Tax Services resp ...

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Sponsored: Why ‘Free’ Advice Costs Much More Than You Think

Were you offered ‘free’ advice by your financial adviser when he or she sold you that investment product, pension or regular savings plan? If the answer is yes, then you have probably been taken for a ride. All advice costs money, and there are two ways you can pay for it: fees or commission. Fees If you pay a fee to your adviser, then the amount of time your adviser spends on the advice given to ...

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Sponsored: Sensible Pension Planning For Expats

Historically, in countries where there is no tax-driven, government-approved pension savings framework (most countries in the Middle East and Africa for example) expat workers have relied on ‘international pension plans’; in reality a marketing name for what is essentially a long term savings plan. By Paul Beard For a long time these were the only vehicles available for expats to invest their mone ...

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UK Expats: Beware The Pension Transfer Tax

A new overseas pension transfer tax could see the UK taxman take a quarter of expats’ transferred funds. Those thinking of moving UK pensions need to know the new rules. One of the few surprise announcements in the UK Spring Budget was the ‘Overseas Transfer Charge’ – an immediate tax on certain transfers to offshore pension schemes. According to Jason Porter, director of expat financial advisers ...

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New Personal Pension For Expats In France

Expat financial advisory firm Alexander Beard Group (ABG) has launched a self-invested personal pension scheme (SIPP) in France for British expats with pensions left behind in the UK. The new scheme, €uvest, is designed for France-based Britons with no cross-border transfer options rather than qualifying recognised overseas pensions schemes (QROPS). Most UK pension providers are now refusing to tr ...

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Is Brexit An Expat Pensions Bonus?

With Brexit uncertainty and a range of options available, pensions can be a source of concern and confusion. For expats, however, there are opportunities on offer. Pensions are complex, yet often the cornerstone of a comfortable retirement. Today, with Brexit looming and more options than ever for what you can do with your funds, it is difficult to establish the best approach – there is no ‘one si ...

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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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