Insights

Changes to Inheritance Taxation

October Budget 2024 Changes to Inheritance Taxation: Shift from Domicile to Residence Based Assessment 4th November 2024 The recent budget changes, while challenging, have also opened up planning opportunities. For individuals residing outside the UK, there are strategic avenues to reduce exposure to UK inheritance tax (IHT) of 40% on worldwide assets. Likewise, UK residents considering a move abroad can explore options for special tax regimes available in Europe and beyond. With careful cross-border planning,

November 4, 2024

October Budget 2024: The Impact for Expats

October Budget 2024: The Impact for Expats 31st October 2024 The October 2024 UK budget brought in several key changes and planning opportunities that have direct implications for British expats, particularly those with financial ties to the UK or plans to return. Here are the main points: Inheritance Tax (IHT) Reforms and Domicile Changes Shift from Domicile to Residence: Starting April 6, 2025, UK inheritance tax on worldwide assets will be based on UK residency

October 31, 2024

Key Tax Considerations for 2024 and Beyond

Key Tax Considerations for 2024 and Beyond 25th September 2024 As we look toward the Labour government’s approach to taxation, it has been communicated that changes could be on the horizon for those with significant assets. Their focus on addressing wealth inequalities could mean higher taxes for clients with large property portfolios, pensions, or investment income. We will be closely watching Labour’s proposal to shift from a domicile-based inheritance tax (IHT) system to a residence-based

September 25, 2024

Filter out the near-term ‘noise’ and concentrate on long-term objectives.

Filter out the near-term ‘noise’ and concentrate on long-term objectives. 8th August 2024 For those (like your writer) who have just returned from a week away from the screens, I’ve quickly replaced my sun hat for a tin hat, with market volatility whipsawing from non-existent to levels similar to those last experienced during the pandemic! However, despite a rout in the stock market (largely driven by some disappointing data reported out of the US last

August 7, 2024

Labour win the UK general election and Sir Keir Starmer is appointed prime minister

Labour win the UK general election and Sir Keir Starmer is appointed prime minister 8th July 2024 James McManus, chief investment officer at Nutmeg, told CNBC that the vast majority of the time, “markets don’t really care” about elections. “Historical data shows us that elections and their results rarely move markets when the expected outcome is delivered.” Strategists and economists predict the British pound will not be impacted strongly by the election. If results are as expected,

July 8, 2024

Protect Yourself From Nuisance Phone Calls and Messages.

How to Protect Yourself From Nuisance Phone Calls and Messages. 20th June 2024 According to some recent training the team at Partners Like Us received, the first recorded phishing attack was in the 17th Century. This was the Spanish Prisoner Scam, which bears a striking resemblance to the more well-known Nigerian Prince scam, where potential victims are promised a large sum of money in return for some help. Victims are usually asked to make an

June 20, 2024

PLU Financial Review May 2024

Are the two big questions, when will the UK see summer sun and when will the Federal Reserve cut US interest rates? 31st May 2024 Where is this year going, as we now enter June and for readers in the UK the pressing question remains, will the weather finally turn and some summer sun soon be with us? There’s an old adage that says “sell in May and go away, don’t come back until St

May 31, 2024

PLU Financial Review March 2024

Time for a spring clean, the first quarter of 2024 is done and dusted. 1st April 2024 That’s it then, in a blink of an eye the first quarter is done and dusted! It has been a fairly eventful first quarter of 2024, with US bond yields rising after the first much anticipated interest rate cut not coming and based upon other data, those hopeful it will arise sooner rather than later, might be left

April 1, 2024

What The UK Budget Means To Expats

What the UK Budget Means to Expats 7th March 2024 The pre-budget discussions mainly focused on potential tax cuts, especially National Insurance reductions, and the possibility of tax increases for non-domiciles and holiday let investors. The Chancellor presented a more positive fiscal outlook than expected, with lower inflation, robust growth, and a forecasted decrease in debt relative to GDP. What the UK Budget Means to Expats The end of the non-dom regime, a fixture of

March 7, 2024

PLU Financial Review February 2024

Even in this leap year February flew by and here are some fast facts for the month 1st March 2024 For some January felt like it lasted a lifetime, but February (even with the extra day this year!) flew by and markets responded positively. European and US equities, in particular, performed well and UK large caps were also marginally up over the course of the month. With earnings season done and dusted, broadly speaking it

March 1, 2024