Expat England News

Latest 10 news items tagged England

25 Jul at 6 PM 2014

Amsterdam scores as expat happiness central in spite of high tax rates

Many would-be expats would balk at the thought of paying 52 per cent income tax on their earnings overseas, but the charm of Amsterdam is such that no-one seems to mind. Most expats living in the historic Dutch capital were lured by the promise of a choice of literally thousands of jobs in the tech, oil and other sectors. In spite of losing over half their salaries to the tax man, most have stayed due to the benefits and lifestyle they’ve learned to love. The Netherlands ranks consistently in the top ten tworld 's happiest...
23 Jul at 6 PM 2014

UK government sneaks in controversial state pension changes

Controversial changes to the UK state pension due to affect millions have been slipped in just before Parliament’s summer break. The changes apply to pensioners who decide to delay claiming their UK state pensions and will come into force for those hitting pension age on or after 6 April 2016. At present, a bonus of 10.4 per cent per unclaimed year is paid to those choosing to defer their entitlement. Many UK citizens, especially those still in employment after the age of 65, have chosen to defer, with some waiting up to 10...
23 Jul at 6 PM 2014

Unofficial expats in the Land of Smiles rush to get legitimate stays

Expat life on the sun, sea and sand Thai island of Phuket just got complicated for expats without long-stay or tourist visas. For a decade or more, immigration authorities have turned a blind eye to visa runs across Thailand’s border by expats unable to get annual visas. Many foreign travellers arrive in Phuket on visa-exempt entries and decide to stay longer, with back-to-back border runs their only option. However, Thailand’s new military government threw a large rock into the established Phuket expat pond with its recent...
22 Jul at 6 PM 2014

New study reveals expats see pension industry as greedy and incompetent

The shocking results of a new study have revealed that retirement savers view the entire pensions industry as incompetent, greedy and corrupt. The research, undertaken by the UK’s National Employment Savings Trust, was intended to survey savers in the auto-enrolment workplace pensions scheme, but has also clearly tapped into the justifiable dissatisfaction felt by users of on and offshore financial product providers. To put it mildly, customers have lost all confidence in insurers and pensions firms. According to the survey,...
21 Jul at 6 PM 2014

Report identifies UAE as plagued by misbehaving Brits

The annual British Behaviour Abroad report brings bad news for British tourists and expats working in the UAE, as the number of those arrested for bad behaviour has soared since 2012. Attempt to blame the results of the report solely on British tourists in the region are likely to fail due to a strong decline in temporary visitors to the desert emirates. Comparative numbers tell the tale, with tourism declining during the last two years by 25 percent, and the number of UK expats working in the region staying steady at around 100,000...
21 Jul at 6 PM 2014

FCA warns against FAs pushing risky SIPPS assets

A recent warning from the UK’s Financial Conduct Agency concerns financial advisors who transfer clients’ occupational pension funds to SIPPS containing risky assets. In a recent article, CEO of the Financial Services Compensation Scheme (FSCS) Mark Neale noted the considerable increase in wrongful advice claims against FAs over the past year. He added that the FSCS strongly supports the FCA’s action in attempting to deal with the issue. According to the FCA, advisors are still operating business models which restrict...
21 Jul at 6 PM 2014

Expat drinkers in Vietnam dismayed at early closing proposals

The recently announced proposal that watering holes in Vietnam should close between 22:00 and 06:00 is causing dismay amongst expats living and working in the Southeast Asian country. The prohibition on the sale of alcohol from as early as 22:00 is believed to have been brought about by health concerns within the government, a concern not exactly shared by a good number of Westerners working in the Communist state. Some are suggesting that the effect of such an early closure of popular bars will be excessive drinking earlier in the...
21 Jul at 6 PM 2014

When is a QROPS a QNUPs and vice versa

For expats living overseas and fast approaching retirement age, investing their pension pot in the most tax effective manner can be very confusing. QROPS, QNUPS and SIPPS have been around for some years now, but many soon-to-be retirees could be forgiven for being totally confused as to which is more beneficial foe them. Basically, all Qualifying Recognised Overseas Pension Schemes, (QROPS) are also Qualifying Non-UK Pension Schemes (QNUPS), but a QNUPS may not necessarily be a QROPS. Got it? Taking the better-known QROPS first,...
17 Jul at 6 PM 2014

Will expat consumers benefit financially from UK pension reform

Now that the initial shock of the UK’s March budget pension reform announcement has faded, it’s time to evaluate the reasons behind it and the real-time financial benefits to retirees. Analysts are suggesting that the innovative policy wasn’t motivated purely by the wish to give pensioners more power over their savings. The behind-the-scenes reality, they say, is that the government has been locked in years of wrangling with product providers over the high charges and low performances of the then compulsory annuities. In...
16 Jul at 6 PM 2014

Expats enjoying the strong pound warned to watch out for fluctuations

UK expats living in the Eurozone and further-flung destinations are enjoying a boost in pension payments at the present moment, but are warned to watch out for future currency fluctuations. The global economic crash wiped a third off pension payments for UK retirees living overseas, but the ongoing British recovery has seen sterling soar against the euro over the last half-year. Economists believe the pound will strengthen further due to the European Central Bank’s preference for a weaker euro to support the rcontinental region's...