Keeping Expatriates Informed...

 

 

Welcome to the June edition of the Candour Consultancy newsletter!

    

With school fee costs continually making the news in the Middle East, this month we look at education fee planning as well as covering some updates in the offshore savings plan marketplace. We also bring you some updates on medical insurance which is becoming compulsory in more and more parts of the region.

  

However, I want to dedicate the majority of this section to a charity introduced to us by one of our customers. Sunflower Children is a family of local high quality non profit organizations who strive to help children around the world overcome the burdens of poverty, disease or disability to become healthy, educated, self sustaining, and contributing members of society.

Sunflower help the poorest areas of the planet raise enough funds for educational projects, such as: building and managing schools and tutoring centres, medical treatment and support that will enable a disadvantaged child to attend school, nutritional support, support of individual children with scholarships, school supplies, uniforms, etc., and after-school activities focusing on the child’s individual personal growth. For more information, please contact Natasha Bartlett-Twivey at: natasha@sunflowerchilldren.org. 

      

Thank you for reading the newsletter, your continued interest and positive feedback.

  

Best regards,

 

Managing Partner

Candour Consultancy

 

  

 

 

 

New US Offshore Tax Evasion Legislation ‘Ready By May’

The latest attempt by US lawmakers to crack down on Americans who have offshore income they do not report stands a good chance of being signed into law within months – or even weeks – people who are monitoring the situation in Washington say.

Click here for the full article

 

Close International Warns Expats After Gains Cooper Case

Close International Asset Management is warning British expatriates to review their pension arrangements in the wake of the Robert Gains Cooper case.

 

Click here for the full article

   

Aussie Expat Tax Changes Create More Uncertainty

If you thought that the federal government's insulation rebate scheme was a bit of a disaster? Stand by for an even noisier reaction by temporary expat workers over the removal of the Section 23AG exemption in last year's federal budget.

  

Click here for the full article

     

 

 

 

Gaines-Cooper Ruling Makes QROPS More Attractive, Provider Says

High-net worth Britons who live overseas have a greater incentive than before to move their pensions abroad following last week’s Court of Appeal ruling against Robert Gaines-Cooper, a Guernsey QROPS provider says.

   

Click here for fund details

 

UK Pension Providers Want Tax Changes To Reduce Use Of QROPS

Efforts by UK pension plan providers to reduce the flow of pensions abroad have been revealed, after a major supplier of SIPPs said almost £500m of UK pension funds had been transferred offshore in the two years after 6 April 2006, or A-Day.  

Click here for fund details

 

Equity Trust Challenges QROPS Decision

Equity Trust, trustee of the Panthera ROSIIP pension fund, is taking the UK tax authority to court to challenge the removal of Singapore's QROPS status in May 2008.   

Click here for fund details

 

HMRC: 70% Tax Bill For QROPS Invested In Residential Property

QROPS that have invested in residential property face a tax bill of up to 70% after HMRC issued fresh guidance on scheme rules.

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QNUPS - The Next Major Offshore Pension?

QNUPS - the next major offshore pensions planning opportunity for UK tax-relieved pension funds and the interaction with QROPS.

 

Click here for fund details

Candour Consultancy has built a reputation as one of the leading independent financial and insurance consultants to both the corporate and individual sectors. As impartial offshore advisers, Candour provides complete financial planning and wealth management solutions based on the personal nature of our service and our extensive knowledge of the offshore market.

 

Whilst the primary goal of our newsletter is to introduce you to the services Candour has to offer, we'd prefer to put you in the picture even if you do not wish to do business with us. As such, the newsletter will link you to a wide range of articles offering sound advice on all aspects of offshore finance and your tax liabilities as an expatriate. Please feel free to view these articles at your leisure without obligation.

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