Category Archives: Tax Planning

Money transfer firms to tip off HMR...

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  Expats switching cash from Britain offshore with money transfer services will soon have their transaction reported to the tax man. Under a new initiative, HM Revenue and Customs (HMRC) intends to demand any money service firm dealing with foreign currency exchange should report the details of the transaction. The aim is to stop expats … Continue reading Money transfer firms to tip off HMRC about transactions

British Expats Should Pay UK Tax, S...

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  Taxing British expats wherever they live in the world is the only way to stop tax avoidance scandals, financial experts claim. The Chartered Institute of Securities and Investment (CISI) wants British passport holders to pay income tax and capital gains tax to HM Revenue and Customs (HMRC) regardless of where their home is located. … Continue reading British Expats Should Pay UK Tax, Say Financial Experts

Gulf states set date for introducin...

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  The Gulf States have finally succumbed to raising taxes in a bid to repair their oil-ravaged finances. The six nations have agreed to introduce a value-added tax (VAT) on goods and services sometime in 2018. The leaders and finance ministers have discussed implementing the tax for some time, but the plunging price of oil … Continue reading Gulf states set date for introducing VAT

Saudi Arabia Floats Income Tax For ...

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  Thousands of well-paid expats in Saudi Arabia may have to pay income tax in the future as the government mulls ways of raising money to plug a massive budget deficit. Taxing expats incomes is one proposal before policy makers. Around a third of Saudi Arabia’s population of 30 million are expats. Most of the labour force … Continue reading Saudi Arabia Floats Income Tax For Expats

Expats May Face More Taxing Times I...

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Expats are facing the unthinkable – losing subsidies, benefits and maybe even paying income tax in the Gulf States. Oil is the culprit. A spectacular decline in the price a barrel from more than $100 to around $30 in less than two years is forcing the rulers of once oil-rich desert kingdoms to rethink their … Continue reading Expats May Face More Taxing Times In The Gulf

What To Do If You Inherit A Windfal...

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  Thousands of over 50s inherit shares but four out of 10 don’t know what to do with them. Around 250,000 over 50s have stocks and shares inheritances they did not know about worth an average £3,500. Most of the share papers and certificates are discovered when families are going through the homes of deceased … Continue reading What To Do If You Inherit A Windfall Of Shares

British Expats Head East For Work A...

BRITISH EXPATS

  The number of British expats heading east for a new life is booming, according to a new survey. Singapore is the destination of choice for most expats who have lived overseas for at least three years, says the NatWest International Banking annual quality of life index. Last year’s top destinations – Australia and Canada … Continue reading British Expats Head East For Work And Cash