QPROPS Tax Changes to your Expat Pension 2017
The 2017 UK budget has seen plenty of tax controversy and pensions, like self employment, did not escape tax invasions. Qualified recognised overseas pension schemes, or QPROPS as it is better known, has arguably been completely overhauled with a 25% tax levied on transfers to QPROPS if you are: In a different country to your […]
Will the New South African Tax Bracket Impact your Wealth Management Plans?
Following the recent South African budget address given by Finance Minister Pravin Gordhan, it is clear that higher earners will be affected. The new tax laws which come into effect on the 1st March 2017, see a 45% tax bracket introduced if you earn more than R 1,500 001. This will push up your personal […]
Watch out for the Inheritance Tax Trap
£4.7 Billion in Inhertiance Tax Paid by UK Home Owners in the Last Twelve Months Inheritance tax payments are rising fast. Last year UK home onwers paid out £4.7bn in inheritance tax payments, a 22% increase on the year before and the highest on record. Most of the tax was due to the rise in […]
Use Financial Advice to Save for Your First Time Buyer Deposit
With the costs of home ownership in the UK rising, saving for that elusive deposit becomes that little bit harder. That said, with the right savings products in place that takes advantage of tax efficiency, you could be on the property ladder sooner than you think. According to a new figures released by Shelter, the […]
South African Tax Amnesty Announced
Special Voluntary Disclosure Programme to go live in October The South African government has announced a tax amnesty providing an opportunity for individuals and companies to declare their offshore assets and bring their tax affairs in order. Now is a good time to speak to a financial planner and implement proper wealth management if you […]
Take Advantage of Marriage Allowance
Save £212 on Payable Tax Recently HMRC have changed the rules of marriage allowance, which could potentially see you as a couple pay less tax. In this post we look at the specifics of the arrangement and how you can benefit from it. Under the new marriage allowance rules, you can transfer £1,060 of your […]
Stop Paying Too Much Tax to the Government
When you think of tax you probably think about it in terms of income tax that you paid while employed. The fact is however, tax does not begin and end with a pay check. Instead it takes several forms and can catch us out when we least expect it. This post looks at the areas […]
Don’t by Caught Out by Lifetime Allowance Charges
Lifetime allowance was introduced in 2006 and comes into play should your pension benefit exceed a certain amount. The idea behind this post is to explain how lifetime allowance works, and that the threshold where lifetime allowance becomes payable is reducing year on year. When it was introduced lifetime allowance was set at £1.8 million. […]