Brits Who Hide Assets Abroad Face Punishment Many expats are being reminded that if they hold assets abroad, they may be required to complete a tax return. Over 5,000 taxpayers were fined in 2018 for failing to disclose they held assets abroad because most expats are not aware of the requirements. The first set of ‘hidden’
Indonesians Who Hide Assets Abroad Face Punishment The Directorate General of Taxation in Indonesia have decided to investigate Indonesian assets that are not reported through the annual tax return form (SPT), and they are preparing punishment for non-compliant taxpayers, according to Finance Minister Sri Mulyani Indrawati. She said the first step would be for the Directorate General of
UK pensions can be transferred to a QROPS in Malta. Malta is a European country with over 70 Double Taxation Agreements including all the European Economic Area (EEA) countries. A QROPS in Malta is regulated by the Malta Financial Services Authority. Both private and some public pension schemes can be transferred to Europe. Unfunded public
Top 100 Most Popular Expat Destinations Over 5 million Brits live abroad or about 1 in 10 of the entire British population. Many are posted abroad by their companies. Most are looking for sunnier climates. Outside of the United Kingdom and its Overseas Territories, the largest proportions of people of self-identified ethnic British descent in the
Transferring a Defined Benefit Pension Scheme to a QROPS The Financial Conduct Authority (FCA) have written a report concerning transfers of final salary pension schemes abroad. In the 58 page report, PS 18/20, regarding safeguarded benefits on 4th October, 2018, Christopher Woolard, FCA’s Executive Director of Strategy and Competition said: “These new rules will mean advisers
QROPS NZ Explained QROPS NZ – If you are moving to New Zealand or retiring to New Zealand, you may want to look into transferring your pension to a Qualifying Recognised Overseas Pension Scheme (QROPS) in New Zealand. There are over 217,000 Brits living in New Zealand. New HMRC rules for 2017/18 mean that you can
UK Pension Transfers to France UK pension transfers to QROPS in France haven’t been allowed for many years now. You used to be able to transfer a UK pension to a QROPS in France back in 2017 into a PERPS (Plan d’Epargne Retraite Populair), but that is no longer possible. However, you can transfer it
The Best Retirement Destinations with Low Tax on Pensions We will be looking at the best retirement destinations for British expats to look for when retiring abroad. We look at the top 10 retirement destinations for Brits living abroad. We are searching for countries with low tax on pensions as well as low or no
The Race to Retire in Europe The official “transition date” for Brexit was 29th March, 2019 and many Brits are looking to retire in Europe to try to solidify their EU status and any rights they might have before all the deals are set in ink. After the official Brexit day on 29th March 2019,
Tips for Moving to Europe Here is your moving to Europe checklist. If you are thinking about moving to Europe, this is a useful guide of things to know before moving to Europe. As an expat who has lived abroad for more than 20 years, I wish I had read such an informative guide before
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