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Expats deserve guarantees

There is a compelling need for clarity for expats. For example, before the UK entered the EU and subsequently become subject to EU free movement rules, allowing UK citizens to move freely between and reside in any EU country of choice, it was signatory to a number of deals with European countries that have now been superseded – for example, there was an agreement with France that ensured reciprocity over social security payments to expats. While some commentators have wondered whether such agreements might again become active in the event of Brexit – others feel that this is a case of wishful thinking.

Whatever the situation, UK lawmakers do have the power to positively influence the situation of expats and they should do so as soon as possible. For example, there is nothing to stop both sides of parliament from moving to trigger Article 50 and urging EU states to ensure reciprocity regarding the rights of expats. Doing so would put an end to the limbo currently being experienced by many and would quiet any troubling suggestions that expats might become political pawns in some of the more Machiavellian negotiations inherent in the Brexit process.

Such decisiveness would also give expats more confidence over what they might do with their pensions. Whereas some might currently be tempted to make an urgent QROPS transfer, if they could have guarantees regarding the future of their pensions they might be tempted to keep them in their existing schemes and perhaps make a decision at a later date.

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

Expats must consider school fees planning

LibraryEducation and school fees planning is a major concern for any person looking to provide the best opportunities in life for their children or grandchildren. It’s a serious enough burden whoever and wherever you are in the world, but if you are one of the several million British expats living abroad, the issue can seem particularly daunting.

Especial empathy should be reserved for those families who have chosen, whether it is for work, lifestyle, health or other concerns, to move abroad and to send their children to private boarding schools back in the UK.

For parents in this position just a small change in their financial circumstances can occasionally place their children’s private education at risk. Fees can be onerous and effective wealth management planning can mean the difference between comfortably affording them or finding the bill a distinct headache.

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Investment Cons and Misleading Deals

Blacktower FM News

Social Media is now a prime area that investment scams are targeting.  Be careful of very clever advertising using your friends to lure you in.  

I am came across one very recently on Facebook where a friend of mine had supposedly ‘liked’ a company that claimed to compare rates of investment interest from all providers available for Expats in Spain.  The rates offered looked extremely good, as an IFA I am supposed to know all the best rates available so I was intrigued to know more.

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