Niraj Vyas comments on 2012 Budget Predictions - Money Observer

Niraj Vyas, UK financial services director at Guardian Wealth Management

‘We hope to see the chancellor announce a strategy that will, in particular, get the one million or so unemployed young people into work.

‘We would also be keen to see the government introduce tax cuts and the abolition of the 50 per cent tax rate on higher earners. The coalition government has committed to retaining this higher rate but we feel it acts as a deterrent to foreign investment and entrepreneurs. Instead, more should be done to encourage new business ideas and start-ups and we hope to see the government provide incentives to entrepreneurs such as tax relief to encourage new ventures and new employment.
‘We also hope that the chancellor doesn’t bow to coalition pressure and introduce a levy on homes worth £2 million plus, currently advocated by the Liberals, as it stands to further depress an exceedingly fragile housing market.’

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Survey Finds Wealthy Brits Keen For An Expat Life

A new survey by YouGov has demonstrated that many Britons are looking at other developed countries as an alternative for a better lifestyle. While wealth management issues still play a large part in our levels of happiness, the survey reveals that many people feel that crime rates and the poor state of the UK economy are driving people out of the country.

With good wealth management a key factor in keeping stress at bay, as a nation we are struggling with the high tax levels and anti-social problems that we face in Britain. These negatives are making those in better financial positions consider the expat way, believing that other locations can offer a greater contribution to overall well-being.

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survey

Wealth Management For Expats – Top Ten Mistakes To Avoid

For expats, wealth management planning is vital, especially as there are lots of common mistakes that expats get tripped up by when moving to a new country. It’s definitely worth getting some professional advice from a wealth management company or financial advisor, to ensure that you don’t get caught out by tax differences and hidden costs.

Wealth management for expats can be more complex, as different laws will apply and there will be other overheads to think about.

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Pension Choices – British Pensions and Pensions Abroad

We would all like to think that we will be young forever, but unfortunately old age comes to us all. Therefore, your wealth management strategy should certainly involve planning for your retirement by taking out a good pension, or several pensions, to cater for your life after work.

Your wealth management advisor can talk you through the various UK pensions and other overseas options that you may have. By investing carefully in a pension you can look forward to a happy retirement we will have the opportunity to enjoying new experiences and are comfortable lifestyle. Talk to your wealth management advisor about the different UK pensions available, such as Self-Invested Personal Pension Schemes or SIPPS. If you're looking at retiring abroad and living as an expat, an alternative to UK pensions that you might want to consider is a QROPS. QROPS can have multiple benefits over a UK pension, providing that you meet the criteria and source the best QROPS scheme for you. Your wealth management professional will be able to talk you through the various advantages and criteria of a QROPS and offer advice regarding your other pension options.

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QROPS Advice for Expats

Before making any wealth management decisions, you need to make sure that you are armed with all of the most up-to-date advice to enable you to make the best choices. One wealth management solution that you would be well advised to look into in-depth is a QROPS or Qualifying Recognised Overseas Pension Schemes.

It is true that QROPS can provide an advantageous wealth management solution, but you need to be realistic and take a step back to get a whole view. An independent wealth management advisor will be able to talk you through all of the pros and cons of transferring your UK pension into a QROPS. Any wealth management decision needs to be assessed thoroughly, so that you can understand the full implications of your choices. While there are many advantages to transferring your UK pension funds into a QROPS, they certainly do not suit everybody’s personal situation.

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QROPS Advice for Expats – Dont leave it too late

If you’re about to make a move abroad to start a new life as an expat, make sure that you get good wealth management advice as soon as possible. Some wealth management issues need to be taken care of as soon as possible as they may be time critical. If you have a preserved or frozen occupational pension scheme, it might be worth getting wealth management advice regarding QROPS (Qualifying Recognised Overseas Pension Schemes) as it may be an option worth considering.

Transferring your UK pension into a QROPS could offer some great advantages that will make your wealth management strategy more beneficial for you and your retirement plans. QROPS transfers are sometimes restricted by deadlines, so getting wealth management advice as soon as you have decided to look into a QROPS is absolutely vital. Your wealth management advisor will be able to help you understand the different rules of transferring your UK pension into QROPS and help you to assess whether your wealth management situation will be improved by making such a transfer.

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QROPS Advice for Expats – The Importance of Information

When making wealth management and financial planning decisions, it can sometimes feel like you are fighting to keep ahead of the game. Since the introduction of QROPS or Qualifying Recognised Overseas Pension Schemes in 2006, more and more expats are transferring their UK pensions into QROPS to take advantage of the enhanced tax benefits that a QROPS can offer.

Because there are constant revisions being made to pension and tax legislation, the only way to be sure that you have the latest information on QROPS or any other wealth management matter is to seek professional advice from a qualified wealth management advisor. There is absolutely no substitute for proper wealth management advice, so if you are considering transferring your UK pension into QROPS it is highly recommended that you speak to a wealth management adviser in the first instance. This will ensure that you have all of the latest information regarding any reforms or rule changes that may affect your QROPS or pension.

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