When making a transfer most people focus solely on getting the best exchange rate. However, hidden extras and commission fees make it hard to know whether that means you have got the best deal. By World First If you are ever promised a ‘free transfer’, you should know that there’s really no such thing. All...

Currencies can fluctuate quickly and dramatically, and being aware of how this could affect you is all-important. Whatever the reason for your currency transfer, we’ve put together this short guide to help you with the basics of making an international payment. By World First. What are foreign exchange rates? The exchange rate is determined by...

A new service aims to offer expert tax advice at a time when expats and non-UK domiciles are digesting what ‘Brexit’ could mean for them. Over the coming months and years, this demand is likely to increase as more detail emerges on the potential legislative changes. Tax planning for expats and non-UK domiciles has...

From 1 April 2016, the UK taxman introduced a new higher rate of stamp duty which applies to the acquisition of a ‘major interest’ in an additional residential ‘dwelling’. So beware if you are buying property in the UK. A ‘major interest’ is defined as a freehold or leasehold interest, says Adam Thompson, tax manager...

Following the UK referendum in June, there is considerable uncertainty surrounding how the vote to leave the EU will affect employers and employees who work internationally. While nothing is certain at present, says Anne-Marie Welch of tax specialists RSM, there are a number of tax issues to consider for UK employers who are either sending...

On Friday 24 June the UK woke up to the news that the country had voted to leave the European Union by a majority of almost four percentage points. After seemingly buying into the belief that the Remain camp would ultimately emerge victorious, currency markets, particularly the pound, quickly reversed course as the tide of...

The Bank of England has quickly responded to financial questions raised by the UK’s referendum result on leaving the EU, in a handy Q&A format. What do any financial market movements after the vote mean? The economy will need to adjust to whatever new trading relationships are put in place in the future. These decisions...

With just a few days to go until the Foreign Bank Account Reporting (FBAR) deadline, you’ll want to make sure you’re aware of the requirements of this important US Treasury form. Here’s everything you should be aware of. Breaking Down FBAR The FBAR, also known as FinCEN Form 114, is the form you use...

Guernsey-based offshore bank Skipton International has launched a mortgage calculator to help British expats in their property investment planning. The new expat mortgage illustration allows those considering a UK buy-to-let investment to enter the value of the property and its expected rental income. They will then be shown the maximum loan potentially available, and the...

June is a very important time of year for US expats. Your expatriate tax return is officially due this month, along with your Foreign Bank Account Reporting (FBAR), if you meet the filing threshold. Here are the facts you should know so you can be prepared as the deadlines approach.   US Expat Taxes As...

The latest UKBudget contained an attack on disguised remuneration avoidance schemes with a new charge on outstanding loans. The new scheme outlines how income tax and national insurance contributions (NICs) will be imposed on employee loans which are outstanding on 5 April 2019, irrespective of when the loan was advanced to the employee or individual....

Contractors can present themselves for employment in a number of ways, ranging from employee to offshore company director. Make sure you take the approach that suits your circumstances best. It is important to consider the structure of your relationship with companies you do business with. There are a number of options, according to accountants Forbes...