The Statutory Residence Test was designed to make decisions about tax residence in the UK simpler for everyone. Despite an online step-by-step Tax Residence Indicator, the website offers just that – an indication of residence status and hints at taking professional advice before committing to any financial planning. The website is so guarded about giving […]
Six Steps To Choosing The Right Currency Broker
June 27, 2013
Anyone switching Sterling overseas has a choice of several services, including banks, money transfer services and specialist brokers. Many advertise no commission and cheap rates, so comparing features is not always easy – and the cheapest is not always the best. So to help choose the right foreign currency exchange deal, consider these six key […]
Tax Advisers Don’t Want To Know US Expats
June 26, 2013
US expats are fast becoming the untouchables of the financial world as tougher regulation limits who can give them advice and handle their money. Banks have already pulled the plug on many US expat accounts around the world due to the impositions required by the Foreign Account Tax Compliance Act (FATCA). Now US based financial […]
Gold Is Losing Shine For Investors As Prices Fall
June 25, 2013
Gold is losing its shine for investors as prices fall and yields from mining firms start to drop away. Since the price per ounce peaked at $1,989 last year, the value of the precious metal has melted away to around $1,300 an ounce, and the decline shows no sign of abating. The blame, say experts, […]
International Tax Network To Police Offshore Money
June 24, 2013
Multinational corporations and wealthy investors trying to conceal their offshore holdings and earnings are the target of a new tax network set up by the world’s leading G8 industrial nations. In an agreement reached at the G8 summit in Northern Ireland, the G8 have agreed to police internal companies by setting up a register of […]
UK Task Force Goes After Expat Benefit Cheats
June 23, 2013
Fraud investigators are hotting up their campaign against benefit cheats claiming cash from their deckchairs on the sunny beaches of Spain. The government reckons scammers claimed around £80 million in benefits from Spain each year. The Department for Work and Pensions, which processes and pays benefits, says more fraudulent claims come from Spain than any […]
Cautious Wealthy Investors Play Waiting Game
June 23, 2013
Wealthy investors are pulling back from the markets because they fear the global financial crisis may not be over. Despite policy makers like Ben Bernanke of the US Federal Reserve hinting that an economic turnaround is just around the corner, investors are cautious about buying. None out of 10 high-net worth investors – those with […]
Freezing State Pensions Is Unfair, Argue British Expats
June 21, 2013
Expats protesting at the unfairness of freezing their state pensions while other pensioners pick up index-linked increases are lobbying the government to phase in changes that will give them more money. The International Consortium of British Pensioners (ICBP), which is at the forefront of a campaign to unfreeze pensions, argues new research shows increasing state […]
Savers Warned About Pension Unlocking Penalties
June 17, 2013
Retirement savers who try to access their pension cash before the age of 55 face a tax bill of more than half the pension savings they have tried to unlock. The stark warning comes from HM Revenue and Customs as the battle against pension unlocking fraudsters hots up. Recently, a raid on a call centre […]
Singapore QROPS Investors Battle To Salvage Their Pensions
June 12, 2013
Investors formerly with the defunct Singapore ROSIIP QROPS are challenging a tax demand in the High Court that could see more than half their pension savings disappear. The group of 37 retirement savers were among more than 120 investors who all transferred pension pots from Britain to the Singapore QROPS only to see the scheme […]
