Expat Uk News

Latest 10 news items tagged Uk

2 Sep at 6 PM 2014

Is your cash protected in an offshore savings account

Offshore bank accounts give convenient access to regular or emergency cash, but how many depositors know how much of their savings are protected? Migration planning for would-be expats often includes opening an offshore bank account for access to pension payments transferred from onshore accounts. The option may become even more popular due to recent UK high street bank crackdowns on accounts held by UK citizens living permanently overseas. However, given the ongoing instability in the financial world, just how safe is your money...
1 Sep at 6 PM 2014

LM expat investors launch lawsuits against FAs and insurers

Expatriates who lost millions due to the failure of the massive LM Managed Performance Fund, now declared a Ponzi scheme, are banding together to take legal action against dodgy FAs, pension fund trustees and their associated offshore life insurance firms. The LM scandal is now regarded as the offshore financial industry’s biggest mis-selling scam in several decades. Overall losses across Asia are estimated in the hundreds of millions, with many smaller investors now bereft of their life savings and pension income. Recent online...
1 Sep at 6 PM 2014

Expat oil and gas workers warned of training scam

Expat workers in the highly lucrative oil and gas industry are being warned about UK-based online fraudsters offering full training and jobs on the North Sea Rigs. The high salaries paid to workers in the harsh conditions of the North Sea oil rigs attract many expats as well as British workers with experience in other locations. The Aberdeen office of the UK’s Trading Standards Office is warning that a scam involving courses leading to the necessary qualifications and jobs is being offered by online companies such as First Oil...
25 Aug at 6 PM 2014

Pension liberation scam victim commits suicide after losing £42000

An anonymous victim, aged 40, committed suicide recently after being defrauded of all his pension pot by cold-calling crooks who told him his pension could be unlocked early. The tragedy was announced as part of an anti-[ension fraud campaign being run by HM Revenue and Customs, the Pensions Regulator and the police. According to the victim’s heartbroken mother, the deal offered was £17,000 after the fraudsters’ fees were paid, but her son never received any money and killed himself when he realised he’d been duped. The...
25 Aug at 6 PM 2014

New online map charts British Curriculum schools across the world

A new, fully comprehensive map shwoing the location of schools offering the British Curriculum has been launched online and is aimed at helping expat parents world-wide to find the best international schools for their children. The British Curriculum is considered to be the prime educational system for UK expat children whose parents are or are planning to work in diverse overseas regions. It’s not offered at all international schools, but is essential for British youngsters who will be returning to the UK for further...
22 Aug at 6 PM 2014

Has UK government declared open season on expats

Hard on the heels of the projected loss of tax allowances, the banking clampdown on expat accounts and credit cards and other punitive measures comes the threat of expat tax errors being criminalised. As if frozen pensions, cancelled winter fuel allowances, disenfranchisement and the dysfunctional passport replacement changes weren’t enough, it seems that the government is continuing to dream up more ways of wrecking overseas pensioners’ lives. The latest news that an error or oversight in declarations of overseas income will...
21 Aug at 6 PM 2014

UK expats encouraged to complain about treatment by UK banks

British citizens living overseas are being urged to complain to the Competition and Markets Authority (CMA) about unfair treatment by onshore UK banks. The controversy over the treatment of UK expats by onshore banks is ratcheting up after calls to report offenders to the UK authorities. A majority of expats working or retiring overseas have kept their former UK bank accounts to facilitate transfers of pensions and other payments to bank accounts in their countries of residence. Although UK state pensions are able to be paid into...
21 Aug at 6 PM 2014

Expats who lost homes during Marbella blaze still awaiting compensation

Expat victims of the devastating fire which razed part of Marbella and Mijas in 2012 are still waiting for compensation from the Spanish authorities. Although the region is finally returning to its full glory after three years, victims who lost their homes and possessions during the massive blaze are still waiting for the promised €14,500 emergency compensation intended to allow them to get on with their lives. The vast majority have not yet received any payments and are living in limbo. One UK expat, a resident in the area for 13...
19 Aug at 6 PM 2014

Losing investment cash to fraudsters is the 2014 hot topic for retirees

UK retirees living overseas are facing threats to their life savings from both the HMRC and the number of fraudulent FAs lurking in expat havens. Expat forums based in many favourite retirement destinations in Europe and Asia have indicated that the two top topics concerning the loss of pension pots are the triggering of heavy tax penalties by transferring cash between pensions and the likelihood of falling foul of fraudsters. Both fears involve mis-selling and bad advice by UK salesmen operating illegally overseas. For example,...
18 Aug at 6 PM 2014

Santander hitting out at expat accounts again

Following the recent news that British high street bank Santander is busily cancelling its expat customers’ debit cards, its action in blocking one expat’s easy access offshore account seems even more prejudicial. It seems that expats, particularly in Spain, are being targeted by the bank in a stealthy attempt to have them take their business elsewhere. In spite of the fact that expat options as regards offshore banks are limited, the high street bank is making its intentions clearer by the day. Many expats now living in EU...