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How do I apply for an NT Code for pension income? An expat guide

An NT (No Tax) code is granted to individuals who receive UK-sourced income and reside in a country that has a double taxation agreement (DTA) with the UK. [Note, for expats in Europe these rules still apply after Brexit, as these tax treaties were made outside of EU legislation.] The code allows you to receive UK pension income, without having tax deducted at source.

How Brexit Changed Financial Advice for UK Expats in the EU

How Brexit Changed Financial Advice for UK Expats For British expats living and retiring in EU countries such as France, Portugal and Spain, Brexit has had a profound impact on financial planning. Many have found themselves unable to access UK-based financial products, while others have struggled to find an adviser willing to work with them. So, what exactly has changed since the UK left the EU, and what can UK expats do to navigate these new challenges? Let’s…

How to Save for Retirement as an Expat

Planning for retirement is a challenge at the best of times, but for expats, it can be even more complicated. If you’re living overseas, you will not have access to the same pension and investment options as you did in the UK. You might also face tax complications and currency risks. So how do you save for retirement as an expat? In this guide, we’ll break it down into simple steps to help you build a secure…

The Pros and Cons of a SIPP for Expats

A Self-Invested Personal Pension (SIPP) can be a great retirement savings tool for UK expats, but it’s not the right choice for everyone. If you’re living abroad and wondering whether a SIPP is suitable for your financial situation, this guide will walk you through the key advantages and potential pitfalls. What is a SIPP? A SIPP is a UK-based pension that gives you control over how your retirement savings are invested. Unlike traditional workplace pensions, a SIPP allows…

What Happens to My UK State Pension if I Retire Abroad?

If you are planning to retire overseas, you are probably also wondering what will happen to your UK State Pension. The good news is that you can still receive your UK State Pension even if you live outside the UK. However, there are a few important details you will need to know to make the most of your retirement income. Here’s everything you need to know about how your UK State Pension works if you retire abroad. …

Why UK-Based IFAs Won’t Work with Expats (And What You Can Do)

If you are a British expat, you might have hit a frustrating wall: finding a financial adviser who will work with you. Many UK-based Independent Financial Advisers (IFAs) simply won’t take you on as a client once you’re no longer a UK resident. But why is this the case? And more importantly, what can you do about it? Let’s break it down. Why UK-Based IFAs Don’t Work with Expats 1. Regulatory Restrictions One of the main…

Top 10 Mistakes British Expats Make with Their Finances

Expat money mistakes Moving abroad as a British expat can be a life-changing adventure, but it also comes with unique financial challenges. Many make costly mistakes that could have been avoided with proper planning and advice. Here are the top 10 financial mistakes British expats often make — and how to avoid them. 1. Failing to Plan for Currency Exchange Risks When you’re earning in one currency and spending in another, exchange rate fluctuations can have a significant…

What Is Specialist Expat Financial Advice and Why Do You Need It?

Specialist Expat Financial Advice Living abroad can be an exciting adventure. But when it comes to managing your finances as an expat, things can quickly become complex. Different tax rules, exchange rates, and regulations can make it difficult to know if you’re making the right financial decisions. For instance, expats often face challenges like double taxation, where the same income is taxed in both the UK and their country of residence, or currency loss due to unfavourable exchange rate…

Expat Financial Advice in 2025: 10 Essential Tips for the New Year

The start of a new year is the perfect time to take stock of your financial goals and set yourself up for success in 2025. Whether you’re already living overseas or planning your move, these resolutions are tailored to UK expats looking to make the most of their finances. By following these steps, you can not only safeguard your wealth but also enjoy peace of mind knowing your finances are on the right track. 1. Review Your Pension…

QROPS Advice: How New HMRC Rules Could Impact Your Overseas Pension Transfer

If you’re considering transferring your UK pension overseas, the recent changes to QROPS rules could significantly impact your retirement plans—especially if you’re heading to popular destinations like France, Portugal or Spain. From 30 October 2024, the UK government has removed the exemption from the Overseas Transfer Charge (OTC) for transfers to QROPS (Qualifying Recognised Overseas Pension Schemes) in the EEA and Gibraltar. In this article, I’ll explain what these changes mean, how they affect QROPS transfers…

Transferring A UK Pension Overseas: Why It Pays to Know Your OTA from Your OTC

If you are considering transferring your UK pension overseas, you’ve likely encountered a bewildering array of jargon and regulations. Among the most important terms you’ll encounter are the Overseas Transfer Charge (OTC) and the Overseas Transfer Allowance (OTA).

Pension Planning Essentials: Why FP2016 and IP2016 Still Matter

With the abolition of the lifetime allowance (LTA) tax charges in April 2024, many individuals assume that they no longer need to worry about pension protections. However, there are still two forms of transitional protection available that can offer significant benefits: Fixed Protection 2016 (FP2016) and Individual Protection 2016 (IP2016). Both of these protections offer valuable safeguards, but understanding which one suits your specific circumstances is critical. This guide will help clarify the differences between the…

How Retirement Ready Are You?

Have you planned thoroughly for your retirement and are well on your way to enjoying a secure and comfortable retirement, or perhaps it’s time to take a closer look at your retirement plan and make necessary adjustments to secure your future? Take our fun quiz to find out!

Protecting Your Family’s Future: The Case for Adding Your Children to Your Pension

When it comes to planning your financial future, deciding who gets your pension is a big deal. While naming your spouse as the sole beneficiary may seem like the obvious course of action, there are compelling reasons why you should also nominate your children.

Irish Pension Transfer Rules Explained: Can You Move Your Pension Abroad?

Transferring Irish pensions for those who have previously spent time working in Ireland is a fairly recent trend. Many people only become aware of their options as they near retirement, but by then, transferring benefits abroad might no longer be allowed. That’s why getting expert advice early on is crucial. While Ireland’s pension system is great for those who live and pay taxes there, moving abroad can introduce major complications. Often, these issues only come to light…

Retire to Poland with Confidence: Essential Tips for Brits Looking to Move

Retiring abroad is an exciting prospect, and for many UK citizens, Poland offers a wonderful blend of culture, affordable living, and proximity to the UK. As a result, it is increasingly becoming a popular destination for British expats , especially those who already have ties to the country, such as a Polish spouse. This guide will help you navigate the key considerations when planning your retirement to Poland, from residency requirements to healthcare, finances, and integrating into the…

What to Expect from the Upcoming Labour Budget: Key Considerations for UK Expats

With UK finances in quite a pickle, the upcoming Labour budget is expected to bring significant changes, especially in areas like taxation, pensions, and inheritance planning. As a British expat, these changes could have a serious impact on your financial planning. While it is always a good idea to review your financial plan regularly, the proposed changes make it especially important to reassess how you manage finances. In this post, we’ll take a closer look at the…

Understanding UK Tax, Retirement & Succession Planning in Saudi Arabia

For British expats living in Saudi Arabia, navigating the complexities of UK tax, retirement, and succession planning can be challenging. The financial landscape shifts when you move abroad, and understanding these changes is crucial to safeguarding your wealth and ensuring a secure future. In this blog post, we’ll break down the essentials of managing your UK tax obligations, planning for retirement, and preparing for succession while living as an expat in Saudi Arabia. UK Tax Considerations for Expats…

The 4% Rule Explained: Is It Right for Your Retirement?

When it comes to planning for retirement, one of the most important questions you will face is: How much can I safely withdraw from my pensions and investments each year without risking running out of money? Answering this question is at the heart of the concept known as the “safe withdrawal rate.” Understanding the Safe Withdrawal Rate The safe withdrawal rate (SWR) is a guideline used by retirees to determine how much they can withdraw from their retirement…

Should I Consolidate My Pensions?

As an expat, managing your pensions can be a complex and often daunting proposition. With multiple pension pots scattered across different providers, and potentially jurisdictions, you might find yourself asking, “Should I consolidate my pensions?” This question is more common than you might think, and the answer depends on various factors specific to your circumstances. In this blog post, we’ll explore the pros and cons of pension consolidation, helping you make an informed decision.

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