Shelter Offshore Expatriate Finance & Living

Offshore Banking, Investment & Savings News and Advice for Expatriates

Managing Money Matters Ahead of and Following Retirement Abroad

Report filed under: Offshore Banking and Savings Guides » Offshore Savings Guide

Thu, March 11, 2010 - 3:33 am EET

Managing Money Matters Ahead of and Following Retirement AbroadThe number one reason why expatriates are forced to give up on their dream of a new life abroad is because they fail to get their money matters in order – fact.

This fact alone should be enough of an incentive for you to ensure you do not make the same mistake.  But just in case you need more convincing, allow us to point out that even those British retirees who planned well and then moved within the eurozone a few years ago have been hit extremely hard by the fall in the value of the pound.  I.e., even careful planning may not be enough to secure your future.

Therefore, as we will impart and explain in this report, the key to success when it comes to managing money matters ahead of and following retirement abroad is keeping on top of your finances at all times.  This needn’t be arduous, time consuming nor difficult and there are those who can and will assist you – but it is critical if you want to enjoy your retirement and have a good, guaranteed standard of living overseas.

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Proud to be a British Peer But Don’t Make Me Pay UK Tax

Report filed under: Offshore Banking and Savings Guides » Expat Tax Saving Guide

Tue, March 02, 2010 - 6:40 am EET

Proud to be a British Peer But Don’t Make Me Pay UK TaxHave you heard the one about the British peer who claims to be non-domiciled in the UK?  Not ‘non-resident for tax purposes,’ but apparently ‘not domiciled in the UK?’  We’re talking about Lord Ashcroft, the deputy chairman of Britain’s conservative party who also has a seat in the influential House of Lords – yet who apparently doesn’t have to pay UK tax on his alleged billions of offshore pounds.  Wow, what a story!

In fact, it’s a story that must make Robert Gaines-Cooper weep.  Mr. Gaines-Cooper recently lost his appeal against the HMRC ruling that he was UK domiciled because of the extent of his personal ties with Great Britain, and therefore he was subject to UK tax on his worldwide assets and income.  Yet Mr. Gaines-Cooper certainly didn’t live in the UK, have a seat in the House of Lords nor hold a peerage, seemingly wholly unlike Lord Ashcroft.  But then again, Mr. Gaines-Cooper wasn’t a huge donor for the conservative party – or the labour party, or any other political party for that matter.  So, that was probably where he went wrong and why he lost his case…

Indeed, it seems you can be proud to be a British peer like Lord Ashcroft and Lord Paul, (another peer allegedly up to the same tax avoidance ‘tricks,’ but this time a labour supporter) – but you can’t make these over privileged people pay tax like the rest of us because they can bend, flaut and even invent the rules to suit themselves.  Does it make you proud to be British and happy to remain in the UK, pouring more and more of your income in the form of tax into the void that is the budget deficit, when you know there are others out there who have massive influence over the direction of this country but who refuse to contribute fairly to it in the form of tax?

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Take Control of Foreign Exchange Money Matters and Trade Currency

Report filed under: Offshore Banking and Savings Guides » Offshore Savings Guide

Tue, March 02, 2010 - 5:28 am EET

Take Control of Foreign Exchange Money Matters and Trade CurrencySending your money back and forth abroad is becoming an ever more complex undertaking - what with fluctuating (and even nose diving) exchange rates and multiple FX brokerages seemingly offering you ‘the best deal,’ it’s tricky to know where to look if you want to move money efficiently and cost effectively.  However, the good news is that new developments in the foreign exchange industry are actually making it increasingly easy for you to control your money and even achieve great savings on your foreign transfer payments.

Whether you need to move money to aid emigration, offshore investment or property investment, or you’re sending funds to family or to pay bills internationally, it certainly makes sense to explore all your options if any of them can potentially save you time, hassle and even money…

At Shelter Offshore we have again teamed up with independent money transfer price comparison website http://www.SendMoneyHome.org to detail how new online developments are giving the public more transparency and, more importantly, greater control over their finances.  If you want to take control of your foreign exchange money matters and be better informed, learn how you can trade currencies and get back in the driver’s seat when it comes to your finances, read on…

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Even a Pensions Expert Damns Traditional Onshore Pension Plans

Report filed under: Offshore Banking and Savings Guides » Offshore Savings Guide

Wed, February 24, 2010 - 8:04 am EET

Even a Pensions Expert Damns Traditional Onshore Pension PlansMany expatriates quickly learn that an onshore pension is not necessarily the best place for them to stash their cash towards retirement once they become non-resident for income tax purposes in the UK.  The reason being, the only ‘perk’ left with a pension is lost to you as soon as you lose your tax status in the UK.

I.e., you are no longer eligible for pension tax relief when you expatriate – so there is pretty much nothing good about a UK pension for Brits living abroad.  Knowing this fact means that it’s quite striking when you hear an onshore pension expert also seriously questioning the ‘value’ and ‘worth’ of this type of retirement savings vehicle.

The director-general of the Centre for Retirement Reform, which is an independent think tank, has stated categorically that: “I’m beginning to think that saving into the current pension proposition might be fifth or even sixth on the list of vehicles to consider.”  So, expatriates, what are your options now?  We take a closer look.

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Why You Have to Have Personal Advice When it Comes to QROPS

Report filed under: Offshore Banking and Savings Guides » Offshore Savings Guide

Tue, February 23, 2010 - 9:06 am EET

Why You Have to Have Personal Advice When it Comes to QROPSWe have received a number of requests for assistance from people concerned about QROPS and whether they are right for them or not.  The number of enquiries has gone up in recent weeks as the amount of media focus on these potentially amazing schemes has increased.  However, what the media doesn’t tend to focus on is the complexity of QROPS.

We always, always say to anyone who contacts us and mentions qualifying recognised overseas pension schemes, (QROPS), that they have to have personalised and qualified, experienced advice…and we’re basically going to say the same thing to you in this report!

We’re going to look at why you have to have personal advice when it comes to QROPS, and how you can go about finding, understanding, trusting and following the advice you’re given.

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Further Articles

Here We Go Again – Alleged Government Tax Crackdown on Expats

According to sensationalist headlines in the likes of the Sunday Times, British expats should all now be running scared from the taxman in the UK who’s likely to launch a crackdown on them…

Shelter Offshore’s New Financial Expert Assists Brits Moving to or Living in America

Shelter Offshore is pleased to welcome a new expert into the fold – Ian Manwaring of UK2US Wealth is on hand to offer financial advice and wealth management services to British readers planning a relocation to America or British expats already living in the US.…

Can You Avoid the UK Income Tax Rate Increase Without Moving Abroad?

As the UK fast approaches the 6th of April and a new higher rate tax charge, we have teamed up with UK/US tax specialists Frank Hirth to discover what you can do to avoid the 50% income tax rate without having to move abroad…

Seek Investment Alternatives to Your Traditional Pension or Potentially Face Poverty in Retirement

Staying onshore or going offshore are no longer the only options you should be considering if you want to safely invest your wealth and protect it against a globally vulnerable economy…