Wednesday, 23 June 2010

Expats and the Emergency Budget

As the Government outlined its economic plans in the Emergency Budget, today we’re asking how these announcements have impacted the expat community? Through our previous posts we’ve already discussed how policies at home like the removal of fuel allowance can impact the expat life abroad and with further slashes to benefits announced yesterday are times about to get even tougher?

Perhaps the biggest shifts in policy set to impact the expat community include the rise in capital gains tax for higher earners from 18% to 28% and the acceleration to increase the state pension age to 66. For those expats owning more than one home or with their own business, changes to capital gains tax could come as a pretty big blow. With so many recent changes in regulation, now more than ever it’s important for expats to have a deep understanding of their financial arrangements to ensure these are as tax efficient as possible.

To help you see how you may have been affected by yesterday’s Budget, we’ve included an at a glance summary, courtesy of the BBC as well as a full summary including the small print.

As always we’re really interested in hearing your thoughts about how you’ve been impacted or have looked to change your lifestyle as a result.

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