Financial

Preparations For South African 'Expat Exemption' Amendments Under Way

The "expat exemption" act has some considerable changes planned for March 2020. Under the new rules, expats' income will be taxable abroad, including any benefits and expenses they might have claimed.   more ...

Retiring Abroad 'Increasingly Unachievable' For British People

Brits who dream of retiring to sunnier climes are facing increasing difficulties when they try to do so, according to the Department for Work and Pensions.

The main reason for this is the deflation of the pound compared with other currencies, particularly the euro. Popular destinations with British expats, such as Spain, Portugal and the South of France, are no longer seen as affordable by many.   more ...

More money lures young expats overseas

Young expats heading overseas on a work assignment could see a 35% salary boost, a survey reveals. According to the HSBC report, their salary rises from $40,358 to $54,484 (£33,204 to £44,826), on average.   more ...

Offshore account crackdown by HMRC

A crackdown by HM Revenue and Customs on money hidden offshore by British expats has delivered £560 million to its coffers. HMRC’s ‘Offshore, Corporate and Wealth Unit’ generated the tax take from its investigations into British taxpayers with offshore assets and income. That’s a 14% rise on the year before.   more ...

UK is the most expensive country to send expats

The UK has overtaken Japan as the most expensive destination to send expat employees, a survey reveals. The findings from ECA International reveal that while salaries have remained static, costs have increased with higher tax and housing costs.   more ...

by FC Exchange

Moving your life from one country to another gives you so much to think about; whether it’s applying for visas, researching private healthcare, finding work, or sending your money overseas, it can be a busy time.   more ...

by FC Exchange

The Pound exchange rate has been softer in recent weeks as UK political uncertainty heats up once again. With Theresa May having stepped down on June 7th, the Conservative Party leadership race is on, and a no-deal Brexit could be very much back on the table.   more ...

HMRC warns expats 'time is running out'

Taxpayers and expats with offshore accounts are being warned by HM Revenue and Customs that ‘time is running out’ to declare their interests.In addition, all financial advisers who have referred a client to an overseas financial institution or helped them to find offshore advice and services must declare this to HMRC by the end of May.   more ...

Expats are not saving enough for retirement

A survey has revealed that most expats working in the United Arab Emirates have ‘no realistic plans’ when it comes to securing a comfortable retirement lifestyle. The survey was carried out by Friends Provident International, who found that less than half of expats save regularly for their retirement, despite the fact many of them expect to stop working at the age of 55.   more ...

HMRC unveils offshore tax evasion crackdown

A new strategy that will see HM Revenue & Customs cracking down on offshore tax evasion has been published. In his Spring Statement, Chancellor Philip Hammond unveiled the new strategy entitled 'No Safe Havens 2019'.   more ...