Expat Uk News

Latest 10 news items tagged Uk

24 Oct at 6 PM 2014

How to avoid the fees and frustrations of conventional currency exchange

One of the most trying aspects of living overseas is currency transfer between your home country or offshore bank account and your account in your host country. Whether you’re retiring overseas, working for a company which pays salaries from the UK, freelancing, or just touring around the places you’ve always wanted to see before you make a decision about permanent residence, the stress and expense of currency transactions is often a negative experience. However, new technologies and several innovative start-ups are about to...
24 Oct at 6 PM 2014

Foreign Office urges research before choosing an overseas retirement destination

The UK’s Foreign and Commonwealth Office (FCO) is urging retirees heading for life overseas to look carefully and plan ahead before they leap. Millions of UK nationals are now aiming to relocate or retire abroad, with the tempting prospect of warmer weather and a better lifestyle the main reason for the decision. However, it seems that not all prospective expats know exactly what they’re letting themselves in for as regards cultural differences and financial worries. A recent survey confirmed that two-thirds of those planning...
21 Oct at 6 PM 2014

Expats turn their backs on international medical insurance due to soaring costs

A recent survey revealed that 25 per cent of UK expats no longer believe that costly international medical insurance is a necessity. Factoring in the ever-increasing expense of international health insurance is a headache for all but the wealthiest of expats, wherever in the world they’ve decided to make their new homes. Overseas private hospitals, especially in Asian countries, are businesses first and healthcare providers second. The 75 per cent of participants who bought health insurance seemed satisfied with the service...
21 Oct at 6 PM 2014

UK Foreign Office warns expats over increasing terrorist threats

As conflicts erupt in European as well as the Middle East and Asia, the UK Foreign Office has stepped up its travel warnings to both tourists and expats. France is the number one target for the latest British authority warnings to UK residents as well as visitors to the popular tourism and expat hub. A triple warning has been issued, with the expected terrorist backlash against France’s military intervention in the war between the Kurds and ISIS at the top of the list. According to the French government, security measures have...
20 Oct at 6 PM 2014

Con man operating Marbella coloured diamond scam jailed for four years

A gang of fraudsters who targeted UK pensioners living along Spain’s Costa del Sol in a coloured diamond scams are now all behind bars. The gang of six, masterminded by Liverpudlian Adam Simmonds, operated a boiler room–style scam in the retirement hotspot of Marbella, hitting on unwary pensioners with offers of ‘rare’ coloured gemstones at hugely inflated prices. The pracitcally valueless diamonds were touted as an investment through the gang’s company, No 1 Gemstones. Thousands of retiree Brits were cold-called with the...
17 Oct at 6 PM 2014

Female expat in Spain accused of property fraud still on the run

Whilst most expat attention nowadays is focused on how to avoid financial fraud, a British expat is on the run in Spain after being accused of a long-term rental property scam. Many expats don’t realise that life in paradise can swiftly turn to life in hell, often with the assistance of seemingly trustworthy business people from their own home country. Rebecca Wells, a keen horserider from the UK, provides a perfect example of the kind of helper no-one needs, having gone on the run after being accused of property fraud. Wells...
16 Oct at 6 PM 2014

UK taxman changes to QROPS rules may benefit expat retirement savers

Whilst the ever-changing new UK rules regarding British pensions are confusing almost every saver and investor both on and offshore, HMRC’s recent QROPS announcement seems to bring good news for expat retirement savers. Basically, the controversial Budget reforms are now to be applied to QROPS holders as well as to those with work-related or private pensions. However, according to the tax office, the finer details still need to be worked out and may result in modifications to the rules applicable to UK-based pension...
15 Oct at 6 PM 2014

New QROPS opportunities for Brit expats in USA

Over the past two years, the use by US residents with UK pensions of Qualifying Recognised Overseas Pensions Schemes (QROPS) has been complicated by the IRS’s objections to the scheme. For several years after the introduction of QROPS in 2006, UK pension funds were unable to be transferred to similar US schemes, even although HRMC had recognised the USA as a pension transfer jurisdiction. In addition to the unwillingness of US federal law to recognise the scheme, Capitol Hill continued to judge the UK pensions market as overly...
15 Oct at 11 AM 2014

Foreign countries ramp up incentives to attract expat retirees

Senior citizens in first world countries such as the UK and USA are being offered a variety of retirement incentives such as tax breaks and easy visa options by an increasing number of states worldwide. The value of would-be expat pensioners to second and third world economies seems at last to be obvious to a good number of far-flung yet attractive destinations’ governments. American expats started the trend with an exodus across the country’s southern border to Mexico, with Ecuador now a favourite for its cheaper expat mortgages,...
15 Oct at 10 AM 2014

Europe set to take over from Middle East as expat bonus hub

Although the Gulf States have traditionally attracted the majority of expat professionals due to generous bonuses, Europe is set to take over the rewards crown. Today’s expanding Western-based bonus culture is the result of a recovery from the devastating effects on international companies of the 2008 financial crash. The tightening of corporate belts and the disappearance of many investors meant bonuses were drastically cut or disappeared altogether. Recent research has shown that Europe is likely to be the first world region...