Expat Working Abroad News
Latest 10 news items tagged Working Abroad
11 Jun at 6 PM 2019
South Africa’s new tax laws are forcing expats to cut financial ties with the home country.
Reports that financial emigration has risen by 30 per cent in the past two years have confirmed the effect on high earning South African expats of the new tax rules about to be brought in. From March next year, South African expats working overseas
will pay up to 45 per cent tax on annual earnings of over one million rand. The first announcements of the upcoming change started the financial exodus as South African expat professionals rushed...
23 May at 6 PM 2019
In a new move, lenders specialising in buy-to-let mortgages are now refusing loans to landlords suspected of tax avoidance.
A leading property investment lender now fears beneficial interest mortgages may be in breach of HM Revenue and Customs’ rules on tax avoidance and are cracking down on landlords as a result. These specialist mortgages involve the transferring of a rental property’s legal ownership to a limited company whilst retaining full control of proceeds from sale and profits on rentals. Professionals in the sector are...
15 May at 6 PM 2019
One important aspect of becoming an expat is to ensure your online security is in place.
Moving overseas can be a chore, as there are so many aspects to consider in order to live a stress-free life in the new country of residence. Ensuring online security is often not considered an immediate priority but, for homesick new arrivals, a break in your service for whatever reason can prevent contact with friends and family back home. Logging on unprotected can also result in viruses, the hacking of bank details and passwords or...
10 May at 6 PM 2019
As property prices in the UK continue to soar, expat Brit who own homes or buy-to-let investments back home are being warned about liability for inheritance taxes.
During the last financial year, rising house prices have meant thousands more taxpayers have been dragged in the inheritance tax net, even although a good number had no idea they’d become liable. As a result, the British taxman was richer by a record haul of some £5.2 billion, and this amount is set to go on rising as property becomes ever more expensive. Last month,...
20 Apr at 6 PM 2019
British expats with offshore investments and bank accounts need to ensure HMRC is aware of them.
All financial advisors who’ve referred clients to offshore advice, offshore services or an overseas financial institution are required to inform HM Revenue and Customs before the end of this month. Also, all IFAs who’ve pointed expat clients towards offshore services or advice since the year 2015 must warn them the UK taxman now has new powers to investigate information concerning overseas investments and cash.
According to the...
15 Apr at 6 PM 2019
Managing money as an expat can be totally different than the same task back in the home country.
More than ever before, emigration is now the goal of professionals looking to catapult their careers into the top echelon with financial benefits to match. In addition, digital nomads are indulging their dream of travelling the world, using their online expertise to pay the bills as they go. Even retirees are now choosing far-flung destinations with cheaper costs of living and far better weather than at home. All three expat categories...
11 Apr at 6 PM 2019
One of the worst aspects of Brexit for British expats living in the EU is the devaluation of sterling.
Expatriate Brits living on the measly UK state pension in European Union member states haven’t just had to deal with the fear and uncertainty of losing their chosen lifestyles due to Brexit, they’ve also had to scrimp even more due to the referendum’s effect on sterling’s value against the euro. Europe’s forcing Theresa May to accept a longer delay may cause a relief rally for the pound, but how long this will continue is...
8 Mar at 6 PM 2019
In spite of its condemnation by several panels of experts, the South African government is determined to go ahead with its controversial new expat tax laws.
As the rules stand today, South African nationals working overseas
for over 183 days – 60 of which must be consecutive – ar exempted from paying home country taxes on their earnings. Once the new amendment are enacted, South African expat professionals in high-salaried positions overseas must pay home country taxes of up to 45 per cent of their earnings once they exceed 1...
20 Feb at 6 PM 2019
Foreigners and expats are queuing to buy luxury London properties, helped along by innovative mortgage products.
According to a report from an upscale London-based real estate agency, over 50 per cent of the prime properties sold between July and December last year were snapped up by overseas-based buyers. Foreign investors are taking full advantage of the weakened pound sterling, keeping business booming for high-end realtors. In real terms, a luxury home costing one million sterling in 2016 now costs £124,000 less due to currency...
18 Feb at 6 PM 2019
Expat and foreigner home owners of prestige properties are rushing to get them sold before Oz’s new tax exemption laws kick in.
Expatriate and foreign owners of a selection of Sydney’s most upscale real estate are besieging property agents with demands their homes must be sold before June 30 this year, the date on which they will no longer be able to claim capital gains tax exemption on capital appreciation. The new law covers both Australian nationals living and working overseas
and expats from other nationalities who’ve bought...