I’m currently a UK non-resident but I am considering buying a house in the UK. Do I have to pay stamp duty to the HMRC? s with most tax questions, it will depend on your personal circumstances as to whether you are required to pay stamp duty when buying a house in the UK. Unlike […]
My estate is valued at over £350,000. If I die abroad, do I have to pay inheritance tax? Under UK rules, inheritance tax depends on the domicile of the deceased. Your domicile is often the country of your birth, but is defined as your permanent home. If you were born in the UK and then […]
I have moved abroad and am now considering how my estate gets distributed when I die and want to create a Will. Is there such a thing as an “Expat Will”? The first important element to answer is that there is no single legal document that is known as an “Expat Will”. This is because […]
I’m thinking of relocating, but how do I actually go about moving abroad? Moving abroad can be highly stressful, but it should always be viewed as an opportunity. To make you initial decision, you need to consider your key reasons for leaving your current country of residence and understand if moving abroad will offer you […]
There have been some reports of British expats having difficulties with bank accounts. Is it still possible for British expats to open bank accounts? Yes. Generally British expats should follow the ABC rule which allows them to protect and build their wealth. If you are from a country (A), and you work in another country […]
I’m considering moving to Italy, but I’m not sure how to find the best house for me. What is the best way to find property in Italy? For anyone thinking of buying a property overseas, such as in Italy, today one of the most useful tools, and effectively most used, is the web. It’s useful […]
If I’m renting my house, what expenses can I claim against rental income to minimise by income tax bill? If you are a tax resident in the UK or you live abroad and are renting a UK property and you earn between £2,500 and £9,999 after expenses – or you earn £10,000 or more in […]
I’ve heard the UK government has introduced an overseas transfer charge of 25% for pension transfers to QROPS schemes, but what is the overseas transfer charge? From 9th March 2017, any pension transfers from the UK to a QROPS may be subject to an overseas transfer charge of 25% of the total value of the transfer […]
I’m evaluating my retirement plans and I am considering opening a SIPP, but what are they and are they suitable for me? A SIPP is a self-invested personal pension and is designed for people who want more control over the funds held within their pension. SIPPs typically offer a wider range of investment options than […]
I have a UK pension and live abroad. I was wondering, what is a QROPS scheme exactly? A QROPS is a Qualifying Recognised Overseas Pension Scheme. For an overseas scheme to be deemed as such, it must satisfy criteria stipulated by HMRC. A QROPS is run by a trustee or trustees in a jurisdiction outside […]