Euro vs Pound – Brexit Impact

According to reports emanating from Bulgaria, expat pension choices may be about to become broader and more accessible with the likely introduction of the European Union PEPP.

PEPPs – Pan European Pension Products – are understood to be at the draft stage, with regulations set to be examined by European Parliament for possible approval.

The development of PEPPs has come about as a result of a perceived need to give people greater choice when it comes to planning their retirement pensions, particularly given that there is not equality of options for retirement savers across the continent. It may also help address the fact that, according to the EU, only 20% of workers between the ages of 25 and 59 make regular pension contributions.

When I first meet a client it takes time for us to get to know each other, and every single person is different with different needs. However, at the root of those needs is usually the desire to find out how best to keep all those hard earned savings, investments and pensions as tax efficient as possible.

Once you have left the UK and become resident in France, the ISAs and other tax efficient savings you may hold in the UK are no longer tax-free and you need to give careful consideration about how you deal with this.  With the new Common Reporting Standards that were introduced recently we can no longer bury our heads in the sand and think that the French taxman will not know about the assets you have left in the UK and will not look to tax you accordingly.