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Pension freedoms are being compromised

Now there is possible relief in sight. The Financial Conduct Authority (FCA) is poised to clamp down on greedy managers by insisting they cannot charge more than one per cent of the value of the pot, but the change will not come into force until next March at the earliest.

So, anyone cashing in or transferring out of their pension today could still have their pocket picked. The move will make it easier for people to drop their pension if they are getting a poor deal or make full use of their new pension freedoms to cash in their pot without penalty.

Before you take any action on your pension you should seek advice from a financial adviser to see how you may be affected.  This could help you avoid the pitfalls of being overcharged for moving your money to a better position.  You will also receive advice on the most tax-efficient position you can achieve.  A simple review will also allow you to compare the benefits you are likely to receive from your current plan and the other options that are available to you.  

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.

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Portugal Inspires Italy’s Flat-Rate Tax Regime for Expats

50 Euro NotesExpat financial advice is a must for any British expat living in Portugal, Spain or Italy to ensure they meet their cross-border taxation obligations while also making the most of the financial growth and preservation opportunities available to them.

However, there is no off-the-shelf recipe for success in this regard. Instead, expat financial advisers need to take full account of every client’s individual circumstances before recommending any product or strategy.

Furthermore, the parameters affecting expat investors are subject to jurisdictional differences and change, so it is not only essential that expat financial advisers stay abreast of their clients’ changing needs and circumstances but also the changing legal and regulatory environment in which their investments operate.

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Spectacular Tax Savings for Expats using Spanish Compliant Investments!

Piggy BankHacienda, or the Spanish taxman to you and me, has granted significant tax advantages for savings & investment plans held by Spanish Tax Residents, under certain conditions.

The advantages are considerable and further compounded as the Hacienda treats non-compliant investments negatively with extra reporting and punitive taxation every year.

Are your existing investments safe from punitive tax?

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