Money News

Brits approaching retirement and planning to spend their golden years in another country are being warned to consider their financial situation carefully. The weakening of the pound and austerity measures aimed at benefits such as pensions mean many are finding their spending power dramatically reduced. Although other countries offer the...

British expat pensioners who have moved to warmer countries will no longer be eligible to claim the winter fuel allowance. In the Spending Review, Chancellor George Osborne said a new temperature test had been introduced that meant those living in warmer countries including Gibraltar, France, Greece, Portugal and Spain would no longer be able...

A new study shows that the recession in Ireland is hitting younger people hardest and fuelling a growth in the number deciding to move abroad. The survey by the Economic and Social Research Institute reveals that older age groups have not been affected as much by the economic results of the property crash as younger people. Those under the...

Brits who have chosen to move abroad are swapping their savings from sterling to the local currency as the pound continues to weaken against the dollar and the euro. A recent survey by Lloyds TSB International has revealed that the number of British expats holding money in sterling has halved since September 2011 to just 13 per...

Although Monaco has long been associated with millionaires and movie stars new residency rules mean that Brits looking to move abroad who are prepared to do a bit of hunting could find a new home for the same price it would cost to purchase a house in London. In order to become a resident of Monaco expats have to either rent or buy a home....

Expats living and working in the US may face having to surrender their green cards if they want to avoid having to pay tax under new rules being introduced under the Foreign Accounts Tax Compliance Act. The controversial system requires taxpayers in the US to reveal every detail about overseas earnings and investments to the Internal Revenue...

The European Court of Justice has ruffled feathers by ruling that all British pensioners living in Switzerland and the European Economic Area should be able to claim the government’s annual winter fuel subsidy. Since 1998, the handout of £300 has been available to all pensions in the UK but only expats who moved abroad after turning...

A new international money transfer company claims it can undercut high street banks and offer expat pensioners much better rates when transferring their pensions abroad. TransferWise was launched last year after its two Estonia founders struggled to find a way to transfer money from the UK back home. The company claims that the fees...

The majority of expats think they will need to reign in their spending if they want to continue living abroad, according to a new survey by the Post Office. Seventy-five per cent of the 900 expats surveyed said they were worried about their finances as they perceive the rate of inflation abroad to be four times that in the UK. Brits living...

A fifth of executives that move abroad to take up a new position with their multinational firm return home before the first two years are up – well before their assignment ends - meaning businesses lose out and are unable to exploit overseas growth opportunities, according to a new major study. The Korn/Ferry Institute report found that...