News & Insights

Expats may be required to produce regular savings proof

However, British expats already living in the EU are unlikely to be affected as it is probable that the government will succeed in ensuring that reciprocal agreements protect their right to reside within the EU.

As it stands, non-EU nationals wishing to live in EU countries have to provide documentation in relation to their expat regular savings, income and pensions in order to receive EU residency visas, so it is possible that British nationals will have to do the same.

“It is likely there would be a system of long-term permits and residency. We want what is in the best interests of the British people but this will form part of the discussion,” a Home Office spokesperson told media.

However, there is still the possibility that Prime Minister Theresa May and her government might be able to achieve a more favourable deal with EU negotiators; in such a situation British nationals may be subject to exemptions on various EU residency visa rules.

The EU Commission, supported by France and Germany, has already indicated that it might introduce a visa waiver for British nationals, albeit for a fee of around £10.

Other News

Dividend Aristocrats

The Dividend Aristocrats are S&P 500 constituents that have increased their dividend payouts for 25 consecutive years.

The FTSE also has its own Aristocrats which many people who read this article will recognise and even have in their own portfolios, some of the dividend returns can make very interesting reading:

Read More

HMRC Pension Transfer Guidance May Change

CogsThe rules relating to pension transfers and inheritance tax could be set to change after HM Revenue & Customs (HMRC) announced that it is to review its guidance on the matter following a number of concerns raised by the Office of Tax Simplification (OTS) in a review published on July 5 2019.

One area that the OTS has earmarked for examination involves the rules relating to pension transfers made within two years of a person’s death. Such transfers can result in the deceased person’s remaining defined contribution pot being subject to 40 per cent inheritance tax unless the estate can prove to HMRC that the pension transfer was made without the intention to deliver gratuitous benefit.

Read More

Select your country

Please select your country of residence so we can provide you with the most relevant information:

You are currently viewing the Blacktower Financial Management EU website.

You may be looking for the Blacktower United States website.

Blacktower United States > X Stay on this site

Or choose your country.