Archive for the Tax Category

Exposing the myths on UK Inheritance Tax – Part 3 of 3

AAM Exposing the myths on IHT Part 3

When it comes to saving money for retirement, many people state a preference for property over pensions. This is in spite of the fact that consecutive UK Governments have placed a greater tax burden on buy-to-let investors. Others are tempted to rely on their main home, either by downsizing or releasing equity.

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Following tax changes, is now the right time to consider selling your UK property?

AAM LinkedIn Post UK Property
UK Expats need to consider the tax implications of owning and renting UK property. The impact of recent UK tax changes is very serious for expats owning UK property that was previously their family home. So much so that selling the property may seem the only sensible [...]Read more

Exposing the myths on UK Inheritance Tax – Part 2 of 3

AAM Part 2: EXPOSING THE MYTHS ON UK INHERITANCE TAX

Prior to the 2010 election, David Cameron announced an ambition to raise the inheritance tax threshold to £1m per person. More than seven years later, strictly speaking the IHT threshold is still £325,000 per person and £650,000 for a married couple.Instead, on 6 April 2017, a significantly watered-down version of his promise was delivered in the form of the residence nil rate band (RNRB). This was made available for inherited residences (or financial wealth that represents properties once lived in), in addition to the existing IHT nil rate band (NRB) which was then and currently remains at £325,000.

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Increased tax liabilities of up to 26% for South African expats

Are you aware that from 1 March 2020, foreign earnings over ZAR1m are to be taxed at South African rates?  This applies to you, if you are classified as a ‘physically present’ or ‘ordinarily resident’ South African tax resident. As a South African expat living in Singapore, [...]Read more

Australian Start of The Tax Year Seminar

AAM ATO September Seminar

Now that the Election is behind us, what does the ATO have in store for you? With the Federal Election following hot on the heels of the 2019 Budget we now turn our attention to the policies of the reinvigorated Coalition Government. In previous years we have seen a raft of measures which have impacted on the financial wellbeing of Australian Expats and amongst the latest, one which could remove your Insurances from your Super without your knowledge.

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Office of Tax Simplification Report on IHT Issued

AAM Office of Tax Simplification Report

The long-awaited report published by the Office of Tax Simplification (OTS), outlining proposals to simplify the UK’s inheritance tax (IHT) system has finally been published. This article takes a look at the key proposals and the potential impact they could have.

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UK Inheritance Tax, Navigating Complexity

AAM UK Inheritance Tax Navigating Complex

Confusing rules surrounding inheritance tax means skilled estate planners are more vital than ever, says Old Mutual International’s David Denton.

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Brexit, Politics and Pensions

AAM Advisory Brexit, Politics and Pensions

We can say many things about the ongoing saga of Brexit but certainly not that it is plain sailing – short of wars and the oil shock of the 1970s, I can’t remember many times less plain sailing than now. In the three years since the UK voted to leave the European Union on 23rd June 2016 we have seen increased political division and rising uncertainty over both the likely outcome of Brexit and the future party of Government of the UK

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Five Common Mistakes UK Expats Make About Domicile And Tax

Research has uncovered some misunderstandings among British expats when it comes to their domicile and tax position. These misunderstandings could leave you and your loved ones financially exposed, and could even land you in trouble with HMRC if you are not paying the correct UK taxes.

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How will the Taxman come after South African Expats?

As a South African expat in Singapore living in a country where the top tax rate is 22%‚ but your salary falls into South Africa’s 45% tax bracket‚ the taxman now wants to come after you to collect the difference of 23%.

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