Complaints about regulated financial firms rose by a huge 1.7 million to just over 6 million in the second half of last year, according to new data. Although nearly two thirds were about payment protection insurance misselling, that still leaves a shocking 2 million grievances reported by customers. The data comes from watchdog the Financial … Read more
Thousands of Accidental Americans living in Europe are not having their right to a bank account compromised by the US Foreign Account Tax Compliance Act. Under the Payment Accounts Directive, every European Union citizen has the right to open a bank account, but some banks have frozen or refused to open accounts for Americans because … Read more
The GAD rate is the way of calculating how much income to take from a capped drawdown pension pot when the money was invested in income generating funds. Capped Drawdown was scrapped when pension freedom rules came into force from April 6, 2015. Although Capped Drawdown is closed to retirement savers, anyone working under the … Read more
You don’t have to be a full time expat to fall under the tax rules of non resident landlord scheme. Although most people would take non-resident as a landlord living permanently outside the UK, the scheme follows a different logic. Strict rules decide how any income tax on property rental profits is paid, so getting … Read more
A big concern for expat couples on assignment is which countries offer children the best start in life – and the UK and USA do not scorer well. Top of the listing from a poll of expats by CEOWorld magazine is South Korea, while the UK ranks 11 and the USA 36. Bottom of the list … Read more
IRS stands for Internal Revenue Service and is often known as the agency that collects taxes. But what else do they do? How did they start and what is their role in the taxes you pay. Check out this in-depth guide on the Internal Revenue Service and how they work. History The IRS dates back to … Read more
The Foreign Account Tax Compliance Act or FATCA is essential reading for US expats. The rules are aimed at stamping out tax evasion by American taxpayers who hide money or other assets in unreported offshore accounts. The US Internal Revenue Service (IRS) lists offshore avoidance as one of the ‘dirty dozen’ ways taxpayers try to … Read more
Many of the world’s biggest brands started life as spare room start-ups with the backing of venture capitalists taking a punt on making a profit. The roll of honour includes some of the most successful companies ever, like Google, Facebook, Hewlett Packard and Microsoft. Business angels offer expertise and to bank roll start-ups that they … Read more
The tax man is about to crack down on pension savers who have failed to report that they have breached the annual allowance. HM Revenue & Customs has fired a warning shot to retirement savers to bring their records up to date when filing their self-assessment tax returns by January 31, 2020. “We know that … Read more
Life expectancy in Britain over the past decade has dropped back for the first time in a century. A detailed survey highlights some ‘shocking’ health inequalities across the nation. The sad truth is that the poorer you are and how deprived the area where you live is, the more likely you are to spend more … Read more