Why Some British Expats Are Liable For IHT
You may not be aware as a British expat who pays no UK income or capital gains taxes that you can still be liable to inheritance tax (IHT). Your liability for UK IHT depends on if you are deemed domiciled in the UK, says Stuart Ritchie of expat financial advisory firm AES International. If you or your...
Top Savings Rates For Expats – June
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 1.2%,...
Working In South Africa: The Tax Implications
South Africa is one of the expatriate jurisdictions where proactive planning makes a significant difference to the tax and exchange control implications of an international mobile employee. The primary reasons for this proactive planning are: Unlike most other countries, with good planning you only become ‘tax resident’ in the beginning of your sixth year in...
Will Care Visits To UK Affect Our Tax Status?
My wife and I have permanent residence in Bermuda. We are returning to the UK for maybe several months to assist with the care of my elderly father. Will we become resident in the UK at some point and subject to UK taxes? Jason Porter of expat financial advisory firm Blevins Franks answered this question. “Basically, if...
Malaria Poses A Risk To Contractors And Beyond
Protection form mosquito bites is not being taken even by professionals in the travel risk business, a new survey has found. Less than a quarter of organisations have pre-travel health programmes in place. Data from medical and travel security risk services company International SOS shows that malaria represents an increasing proportion of offshore medical and...
Expats With Kids Take Six Months To Settle
Despite the benefits of raising a family abroad, parents and children alike take time to settle into their new life. However, the challenge can bring families closer together, according to new data. Almost half of expat parents say their children take longer than six months to feel at home in their new country, with...
Top Savings Rates For Expats – May
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 1.2%,...
Top Three Ways To Save On Your US Expat Taxes
Ah, filing expat taxes…one of the necessities of living overseas. While it may not be the most enjoyable thing about your adventure abroad, fortunately the IRS provides a number of ways to avoid double taxation so you can save money come tax time. By Greenback Tax Here we highlight the top credits, deductions and exclusions...
New Work Visa Rules Could Hinder Expats
Jobseekers could find it harder to land expat assignments as the US, Australia and New Zealand bring in new expat visa rules. Temporary skilled worker laws are facing change. Australia announced that the Temporary Work (Skilled) visa (known as the 457 visa) will be abolished and replaced with a new Temporary Skill Shortage (TSS) visa in...
Making The Move To Be An Expat In Spain
Once you have decided to relocate you have to choose from the many removals companies operating between the UK and your destination. You then have to decide between exclusive transportation or a cheaper shared-vehicle option. By Julie Bridge Simon’s move from Leamington Spa to Almeria in Spain used shared transport provided by Matthew James Global...
British Expats Find Mortgages For UK Property Elusive
British expats have to look longer and harder to find affordable deals for UK house buying. Problems encountered by expats include having to find much larger deposits than UK-based customers, and higher interest rates and arrangement fees. These come on top of the usual hassles of finding and conveyancing a property purchase from a distance....
UK Expats: Beware The Pension Transfer Tax
The overseas pension transfer tax can 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 2017 Spring Budget was the ‘Overseas Transfer Charge’ – an immediate tax on certain transfers to offshore...