Free Resources – Ross Naylor

hello@rossnaylor.com

REQUEST A FREE CONSULTATION

10 Key Financial Questions to Ask HR Before Taking an Expat Role Overseas

Taking an expat role can be an exciting career move, but it also comes with financial complexities that need to be carefully considered. If you have a family, your financial considerations will be even more intricate. Before signing a contract, make sure you ask your HR department the right questions to avoid unexpected financial surprises and ensure your family’s well-being. 1. How is my salary structured? Understanding the breakdown of your salary, including base pay, bonuses, and allowances,…

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.

When Bad Advice Costs Everything: How British Expats Can Learn From an England Manager

Sven-Göran Eriksson, the renowned football manager who led England from 2001 to 2006, amassed significant wealth throughout his illustrious career. However, a series of poor financial decisions and misplaced trust in the wrong advisers led to the depletion of his fortune, leaving him £3.7 million in debt at the time of his passing in August 2024. Eriksson’s financial downfall is not just a cautionary tale for footballers. It’s a lesson for anyone—especially British expats—who place their trust in…

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…

UK Expat Tax Rules: What You Need to Know

If you’re a British expat, understanding UK tax rules can be confusing. While you may have left the UK, you could still have tax obligations depending on your residency status, income sources, and assets. This guide breaks down the key UK tax rules for expats, covering income tax, capital gains tax (CGT), inheritance tax (IHT), and property-related taxes in a clear and straightforward way. 1. UK Income Tax for Expats Do Expats Pay UK Income Tax? Your…

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…

Planning to Return to the UK? How the 2025 IHT Changes Could Affect Your Estate

If you’ve been living overseas for years but are now considering a return to the UK, the recent budget changes to Inheritance Tax (IHT) could significantly affect your financial planning. From April 2025, the UK government is introducing new rules that shift the focus of IHT liability from your domicile status to your residency history.

Moving Back to the UK from Saudi Arabia

After spending time living and working in Saudi Arabia, moving back to the UK can be a significant transition. Whether you’ve been an expat for a few years or several decades, repatriation involves practical, emotional, and financial adjustments. From managing your finances to understanding tax implications and preparing for lifestyle changes, planning is key to ensuring a smooth return. This guide will help you navigate the complexities of moving back to the UK from Saudi Arabia. Preparing for Your…

Moving from the UK to Saudi Arabia

Relocating to Saudi Arabia is a bold step that opens up a world of opportunities, from tax-free income to a thriving expat community and the chance to experience a rich and unique culture. However, moving to Saudi Arabia from the UK involves more than just booking a flight and packing your bags. There are essential financial, legal, and lifestyle considerations to plan for. In this guide, we’ll explore the key aspects of moving to Saudi Arabia, share practical…

Financial Advice for Expats Living in Saudi Arabia

Moving to Saudi Arabia can be an exciting and life-changing decision, offering opportunities to experience a unique culture, benefit from tax-free income, and work in a rapidly developing economy. However, as an expat in Riyadh or elsewhere in Saudi Arabia, financial planning can be complex. Proper financial advice is essential to ensure your wealth grows, you comply with legal requirements, and you plan for your future.

New UK Inheritance Tax Rules for Non-Doms: What You Need to Know for 2025

On 30 October 2024, the UK government announced sweeping updates to the inheritance tax rules affecting UK residents who are not domiciled in the UK—commonly known as “non-doms.” Below, I’ll break down the main changes in a straightforward way to help you understand what these new rules could mean for you.

Navigating the FIG Regime: Essential Insights on the UK’s Latest Non-Dom Tax Changes

On 30 October 2024, the Chancellor, Rachel Reeves, announced major changes to the tax rules for UK-resident, non-UK domiciled individuals, often known as “non-doms”. These changes will affect how non-doms are taxed on foreign income and gains, marking a shift in the way the UK handles cross-border income. Here, I’ll break down these new tax rules in straightforward terms, with a focus on the Foreign Income and Gains (FIG) Regime and what it means for you.

UK Budget 2024 – What does it mean for expats?

The dust is still settling on last week’s Budget. Things like increased National Insurance Contributions and a higher government borrowing ceiling have already been picked apart by the mainstream media. However, in this post, I want to focus on a few areas that will be of interest to those of us who are either living outside the UK already or who are considering doing so.

Scan the code