Background The lifetime allowance tax was introduced in 2006 at a level of £1.5 million. It then increased each year to 2010,when it reached a level of £1.8 million. Since 2010, there have been a number of pension reforms which have led to the lifetime allowance being reduced. Its current level in the...
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The value of life insurance cannot be overstated. Life insurance not only offers protection for your family and home in the event of your death, but can also be used as an invaluable tool in your financial planning. Some people may think of life insurance as just another expense....
In the United Kingdom, Inheritance Tax as we now know it was introduced in the Inheritance Tax Act 1984 and is still mostly governed by the legislation today. UK Inheritance Tax is a tax on UK Domiciled Individuals on their worldwide estate (their property, money and possessions) when they...
The 10 year tax rule is a tax incentive that can benefit Australians and those who are planning on relocating to Australia. The rule states that an investment that is held for ten years can be withdrawn tax free so long as: A. The investment is held within a...
New rules that were introduced in 2014 made things tricky for all potential borrowers whose income and expenditure had to be evidenced after this time. For expats things are tougher still. Following European rules introduced in 2016, individuals paid in a foreign currency must now come under closer scrutiny during...
Inheritance Tax is one of the most misunderstood areas of expat financial planning. Many are unaware of the difference between ‘non UK domiciled’ and ‘non UK resident’, wrongly believing they won’t be taxed on assets outside of the UK or they are not liable for IHT as they do...