Expat Uk News

Latest 10 news items tagged Uk

29 Jul at 6 PM 2014

UK government inquiry told EU wide misselling redress needed

As complaints against the mis-selling of financial products soars across European states, a UK Parliamentary enquiry has been advised that an EU-wide mechanism for consumer redress is badly needed. Although EU law on consumer protection has been updated since the 2008 crash, redress for consumers with mis-sold financial products has remained the responsibility of separate member states. At the present time, the UK Financial Ombudsman is handling a massive number of claims relating to both banks and FA firms accused of ignoring due...
29 Jul at 6 PM 2014

UAE expat savings heading towards global property investments

It’s no secret that Western expats working in the UK are paid plenty enough to be able to invest for their futures, with many still favouring bricks and mortal via global property markets. Property as an asset class is regarded as a traditional and historically safe place to stash savings, offering good returns and little overall risk if the investment is carefully chosen. Whilst UAE government predictions of property price increases due to the upcoming EXPO 2020 may be shaky, investment in regenerated areas of Europe’s large...
28 Jul at 6 PM 2014

HMRC issues third highest QROPS mass suspension since April 2006

The 15 July official QROPS list published by the UK’s HMRC has suspended a total of 118 Qualified Recognised Overseas Pension Schemes (QROPS). The mass cull is the third largest since the scheme itself was introduced in April 2006, and includes 99 Australian QROPS, one from Mauritius, 15 from India and two from Canada. The tax authority declines to explain the reasons for its decisions, but suspensions can be the result of pensions no longer qualifying for inclusion, tax abuse, single member schemes losing members or reviews of a...
28 Jul at 6 PM 2014

Study shows France offers best healthcare in world for expats

The French healthcare system, highly regarded for decades, has recently received a further boost to its reputation. The Annual Global Retirement Index survey undertaken for International Living Magazine has rated France’s healthcare the best in the world for expat retirees. Out of 100 possible points, the Gallic system rated 97, and was even described as inexpensive. Beating out Uruguay in second place and Malaysia in third, France’s benefits were rated as excellent. The state pays the bulk of charges for medical services as...
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...