There have been some reports of British expats having difficulties with bank accounts. Is it still possible for British expats to open bank accounts? Yes. Generally British expats should follow the ABC rule which allows them to protect and build their wealth. If you are from a country (A), and you work in another country […]
What is the best way to find a property in Italy?
I’m considering moving to Italy, but I’m not sure how to find the best house for me. What is the best way to find property in Italy? For anyone thinking of buying a property overseas, such as in Italy, today one of the most useful tools, and effectively most used, is the web. It’s useful […]
What expenses can I claim against rental income?
If I’m renting my house, what expenses can I claim against rental income to minimise by income tax bill? If you are a tax resident in the UK or you live abroad and are renting a UK property and you earn between £2,500 and £9,999 after expenses – or you earn £10,000 or more in […]
What is the overseas transfer charge on QROPS transfers?
I’ve heard the UK government has introduced an overseas transfer charge of 25% for pension transfers to QROPS schemes, but what is the overseas transfer charge? From 9th March 2017, any pension transfers from the UK to a QROPS may be subject to an overseas transfer charge of 25% of the total value of the transfer […]
What is a SIPP?
I’m evaluating my retirement plans and I am considering opening a SIPP, but what are they and are they suitable for me? A SIPP is a self-invested personal pension and is designed for people who want more control over the funds held within their pension. SIPPs typically offer a wider range of investment options than […]
What is a QROPS scheme?
I have a UK pension and live abroad. I was wondering, what is a QROPS scheme exactly? A QROPS is a Qualifying Recognised Overseas Pension Scheme. For an overseas scheme to be deemed as such, it must satisfy criteria stipulated by HMRC. A QROPS is run by a trustee or trustees in a jurisdiction outside […]
What does QROPS mean?
I’ve recently discovered that expats could be eligible for a QROPS, but what does “QROPS” mean? QROPS stands for “Qualifying Recognised Overseas Pension Scheme”. A QROPS is a pension scheme which is not based in the UK, but meets specific criteria set by the HMRC in the UK. If you live abroad and wish to […]
How much is the UK State Pension?
I believe the UK State Pension payment has recently changed. How much is the UK State Pension per week? The full new State Pension is £155.65 per week. However, the amount of UK State Pension you will receive will depend on three factors. Firstly, when you were born; secondly, where you live and; finally, how […]
Can I transfer my UK pension to Australia?
I have previously lived in the UK and paid into a UK pension, however, I have moved to Australia and want to know: can I transfer my UK pension to Australia? Yes, it is possible to transfer your UK pension funds to an Australian pension scheme. However, please be aware that under no circumstances can […]
Can I transfer my pension?
I have a UK based private pension, but can I transfer my pension elsewhere? Yes. But whether should or not is a different matter. Transferring your UK pension abroad is generally only advisable if you are absolutely sure that you do not want to return to the UK. If you might become a UK resident […]