Tuesday Tax: 3 Ways the Tax Man Receives Exchanged Information

Tuesday tax is a weekly briefing of tax news for people Living and Working Abroad from ProACT Partnership Tax Saving Expat Experts.

—

Have you wondered why your banks, savings institutions and property lawyers are chasing you this last year to Update your ID, address and tax number ?

—

Because of the internet.

Really. Information technology allows the tax man to exchange hugh amounts of Data with the countries it cooperates with.

They all cooperate apart from the extremes - North Korea anyone ?

www.proactpartnership.com/contact-us

Save Probate Costs & Inheritance Tax with Cyprus Property Trust 9 Benefits of a Cyprus Property Family Trust

Do you ever wonder how your family would deal with your Overseas Property on Death? How your wife, husband, children would cope with the time, expense and development of settling your estate in your home country and overseas?

How would you tackle the UK probate and Inheritance tax assessment, a possible demand for 40% inheritance tax payable with 6 months of death?

A simple UK probate on average takes 9 months to settle. If you need probate overseas as well then that time is easily doubled. How would your family manage the overseas property? What is the expense of Probate lawyers overseas (10%) and offshore property agents (5%) and the time off work and travel to clear up your time living and working abroad?

We have created a free article on our website listing the 7 Benefits of a Cyprus Property Family Trust for expats owning overseas property in Cyprus and other countries.

We know from experience over 20 years that planning ahead to protect your Family overseas property assets from the cost and delay of Probate, Forced Sale and Inheritance Tax at a difficult time for your loved ones.

ProACT can help you protect your family assets down the generations.

Remember, we offer a FREE no obligation Review.

7 Benefits of a Cyprus Property Family Trust

1. The Trust Deed & Gift can be created

Countries UK Expats Get State Pension Indexing

ProACT are Expat Experts for people Living and Working Abroad

when Considering a retirement location there are many things to consider.

Contact-Us www.proactpartnership.com/contact-us

for a Free Review on any Expat Expert question.

UK state pensions retain indexing for Expats Living and Working Abroad in The following Countries.

REGISTER for Free Expat Expert Updates

Pension indexing 161101

The EEA countries are:

Brexit Ends Political Union Not Global Trade & Tax Links

Brexit ends political union but not trade links. Many UK businesses are owned by overseas investors.

This slanted video does not bring up say Cadbury's or Liverpool FC owned by Americans

It doesn't highlight the Business Owned overseas by UK business. The Footsie 100 is filled with overseas invested Business.

Property Rental & Tax Disclosure

If you are advertising your overseas property rental on third party property rental sites, that service is now required under 'know your client rules' to record your tax number as the landlord.

This is part of Common exchange of information ruleswing introduced globally and company and individual beneficiaries are nowrequire you to now disclose

www.proactpartnership.com/register

3 Big Tax Savings for the Family of Overseas Property Investors

Have you ever had the experience in your family where someone died, or divorced, or remarried leading to a family dispute arose over Property. Where someone within the family fears losing their share of an inheritance, or want to grab it, at the expense of the family membersintended or rightfully beneficiaries.

I have and it is so sad. The loved ones, and future generations, you tried to protect and secure, see their home and finacial security undermined with the family squabble. This is why we make a will or consider life time gifts to ensure your wishes are carried out.

EU Changes to Succession

Changes in European Laws of succession have thrown any plans made up in the air. Expats owning Overseas Property in an EU country could now be subject to forced heirship where only blood or married relatives can benefit - leading to confusion and disputes down the line.

Unmarried couples, children of second marriages, divorced partners, second marriage couples have now got to review there overseas property ownership or risk loss of assets and wealth when something changes.

CONTACT US FOR A REVIEW OF YOUR OVERSEA PROPERTY

Click to Read More below to Read the Full Article.

We love to here your comments and feedback, please enter your comments at the end of the article blog. Thank you.

EU Brexit for Expats, UK tax, Cyprus Business, Tax Return Service, Expat ExpertsProACT Sam Orgill3 November 2016expat business network, expat experts, expat business, expatbusinessnetwork, proact partnership expatriate advice, #ExpatExperts, proact4expacts, cyprus business, proact sam orgill, #livingandworkingabroad, eu brexit for expatsComment

Pension Freedom for Expats - Business or Retired

New Pension Freedom Rules allow Expats to Draw the whole of their UK based pension fund and pay tax in their country of overseas tax residence. This offers potentially large tax savings for Expat Business and Retired people Living and Working Abroad.

You don't have to retire to free your pension, even if living and working abroad, you can still reclaim the pension once you are over 55.

In the UK any Pension fund over £43,000 could generate a UK tax bill of 40% (£17,200)

The freed pension funds can then be invested in any way, cash investments, family business, overseas property, family education, repay loans, enjoy retirement.

ProACT can help free your Pension and reclaim big tax savings up to 40%.

CONTACT US

EU Brexit - Living Abroad With Currency Ups and Downs

Sam ORGILL of ProACT Partnership goes with the flow - Living Abroad With Currency Ups and Downs

If you must change currency today you could lose out. So take a long term view. If you are an Expat and have assets in different currencies then take a balanced view.

I will use GBP and EURO to compare on this article.

BALANCED CURRENCY RISK

Most expats living and working abroad have overseas property, savings, pensions and maybe business or loans.

What is the total value? Of Income and of Capital ? What proportion is in the home currency and foreign currency?

CONTACT US

EU Brexit for Expats: Walls Come Tumbling Down

Sam Orgill of ProACT Partnership considers the background and implications of EU Brexit for Expats Living and Working Abroad

The Clash wondered ‘Should I Stay or Should I Go?’ Indicating a level of indecision with narrow margins. The Jam successors Style Council replied with ‘You don’t have to sit back… you can actually try changin’ it an Walls will come tumbling down’. This was the 70’s angst of the UK as they agonisingly choose to be led into the ECC as it was then.

2016 - Fast forward to 2016 and Great Britain votes 52% to leave – an 18% swing. The EU walls come tumbling down, along with political careers, jobs and lifestyles. What went wrong with the relationship between the British and their European Cousins?

Register and subscribe to our free newsletters click here

EU Brexit for Expats: House of Cards?

Sam Orgill of ProACT Partnership considers the background and implications of EU Brexit for Expats Living and Working Abroad

The Clash wondered ‘Should I Stay or Should I Go?’ Indicating a level of indecision with narrow margins. The Jam successors Style Council replied with ‘You don’t have to sit back… you can actually try changin’ it an Walls will come tumbling down’. This was the 70’s angst of the UK as they agonisingly choose to be led into the ECC as it was then.

2016 - Fast forward to 2016 and Great Britain votes 52% to leave – an 18% swing. The EU walls come tumbling down, along with political careers, jobs and lifestyles. What went wrong with the relationship between the British and their European Cousins?

Register and subscribe to our free newsletters click here

UK Tax Free Savings Secured for Expats

Sam Orgill of ProACT Partnership discusses how Expats can get UK Tax Free Savings in a secured financial environment

Interest from Banks and Bonds

From April 2016 a £5000 tax saving income allowance exists in the UK. This saves £1000 tax. Yes you can earn £5000 in interest tax free.

Also the UK no longer charge tax on bank interest at source, from 2016 you will have to declare and pay tax on saving in a UK tax return or your country of tax residence.

Tax Saving Tip: Build up savings for UK interest free of UK at source and Cyprus Tax

CONTACT US

Sam Orgill of ProACT Partnership considers the background and implications of EU Brexit for Expats Living and Working Abroad

Sam Orgill of ProACT Partnership discusses how Expats can get UK Tax Free Savings in a secured financial environment

Live Chat