Expat Focus Financial Update June 2024

EU to Harmonise Withholding Tax At the Economic and Financial Affairs Council (ECOFIN) meeting in Brussels in mid May, financial ministers of the EU agreed to implement a proposal to streamline existing tax barriers to the capital markets union (CMU), thus harmonising tax across the EU. The move is designed in part to create more … Read more

Expat Focus Financial Update May 2024

Expats’ Pensions Affected By Serious Fraud The Times reported in late April on a fraud that may affect £2.37 billion worth of pensions held by 10,000 British expats. An investigation by the Sunday Times has revealed that executives at financial advice firm Brite may have transferred millions of pounds from expat pensions to their own … Read more

Expat Focus Financial Update April 2024

Expats in Thailand ‘May Have Bank Accounts Investigated’ In late March, the Pattaya Times reported that UK banks may have to pass customers’ information over to the Department of Work and Pensions, as part of the data protection and digital information bill. The DWP says that there is a history of overpayments to British pensioners … Read more

Expat Focus International Healthcare Update April 2024

Spanish Hospitals ‘Crackdown’ After Painkiller Scandal In Spain, the National Court’s Prosecutor’s Office plans to investigate potential adverse effects of the painkiller Nolotil, following several deaths among Brits and other Northern Europeans, who appear particularly susceptible to its side effects. Health Minister Mónica García described the situation as a “pharmacovigilance issue” to the press and … Read more

Expat Focus Financial Update March 2024

HMRC Complains About ‘Stealth Expats’ Although there has been a steep decline recently in the number of expats contacting HMRC with news of their move out of the UK, tax experts remain sceptical. The volume of P85 forms received by HMRC in 2019-2023 (these tell the tax authorities that someone has left the country for … Read more

Expat Focus Financial Update February 2024

New ISA for Expats Investment and wealth management platform, Novia Global, announced at the end of January that it will be offering a new ISA to expats, particularly Brits in a state of ‘suspended animation’ with their current ISAs who are unable to add any funds to their existing schemes. The new product will not … Read more