Expat Tax Saving Guide

Now that the highest rate of tax in the UK has gone up to a whopping 50%, (with historical evidence weighted more firmly in favour of the fact that most taxes in Britain are seldom removed or reduced once they’ve been created), there are plenty of places around the world where we can all move to live, work or retire if we specifically want to reduce our tax bill – which is very good news!

Britain was once considered a fairly taxed nation – but those days have long gone.  And with governments having knee jerk reactions to claw back money that they unwisely spent or gave away to banks, we can all see clearly that the UK is no longer a nation in control of its economy.

If you’re unhappy with the amount of tax you have to pay, with the proposed spending cuts or you’d just like an adventure abroad and ideally you’d like it to be in a country where you can retain more of your salary each month, we’re going to be exploring where expats can go and live abroad and pay less tax.

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Well, the time for debate is over in the UK apparently, and it’s now up to British citizens to make their minds up about which government they want to elect and which tax hikes they therefore want to adopt.

A highly respected think tank has analysed ways in which the budget deficit in the UK can be brought under control, and it has revealed that there will have to be serious and sustained tax increases on every individual household in Britain to bring debt back to anywhere near a manageable level.

So, this begs the question, would you be better off offshore?  I.e., would you be better off if you packed your bags, moved abroad, worked overseas and managed your money offshore as is entirely legitimate for many expats to do?  In this report we look at the likely reality of life in the UK over the next decade, versus the offshore and expatriate benefits and advantages you could enjoy if you moved abroad.

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The Chancellor in the UK is set to launch his final Budget of this Parliament on Wednesday – and because he belongs to the political party that has got the country into the financial mess it is in in the first place, and that political party is not odds on favourite to win the next election, funnily enough - he is not expected to rock the boat any more and upset anybody with what he plans.

In other words, don’t bank on the forthcoming Budget to show Britain’s bleak black hole of debt – the truth will only out after the election is done and dusted.  This is what we’ve been saying for weeks, and now the popular press in the UK is backing our point all the way to the polling stations in May.

But how is this of relevance to you?  Well, if you’re planning on moving abroad to escape the state of the UK, you may want to leave sooner rather than later – i.e., before the truth is revealed at which point our currency could sink even lower and our housing market could be back on its knees.  Or if you’re thinking about repatriation to the UK, take your rose coloured glasses off, because chances are, things in Britain are a lot worse than when you left.

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