Avoid paying 55% tax on your UK pension Many expatriates living here in Switzerland or worldwide for that matter, are potentially going to be liable to pay the additional 55% tax when they draw upon their UK pension assets. This is mainly due to the Life Time Allowance (LTA) being reduced significantly over the past years. For example between 2010 and 2012 the LTA was £1,800.000 and now it is just £1,055.000. So what is the life time allowance? The…
Review Your UK Pension in 3 Easy Steps With BREXIT looming and interest rates so low, there has never been a more compelling reason to review your UK Pension Assets. SuisseRock Advisory Services have been extremely busy helping their clients review and understand their UK pension benefits. Since BREXIT we have seen valuations soar by as much as 25% due to the reduced interest rates in August last year. Do you know how your UK pension has benefited from these…
Are QROPS dead in Switzerland? Once again another UK budget has changed the landscape for expatriates looking to protect their UK pension assets. Unfortunately QROPS are no longer an attractive proposition for expatriates looking to consolidate their UK pension assets and protect their wealth from the LTA (Life Time Allowance) Tax charge. As of today if you decide to QROPS your UK pensions while a resident in Switzerland you will have to pay a 25% tax charge to the HMRC.…
Final salary pension deficit of biggest listed firms in UK ‘hits £137bn’ Consultancy says combined deficit has trebled from £39bn in previous year despite stock market ending year on high The FTSE 100 ended 2016 at an all-time high. Photograph: Daniel Leal-Olivas/AFP/Getty Images Rupert Jones The combined final salary pension deficit of the UK’s 350 largest listed companies more than trebled to reach £137bn in 2016, despite the stock market ending the year on a high, according to a leading…
Start the New Year as you mean to go on. Firstly from everyone at SuisseRock we would like to wish you all a very Happy New year. We hope an exciting and prosperous 2017 lies ahead. It is that time of year again where we all start making our New Year resolutions. What is yours for 2017? Are you planning on exercising more, quitting smoking, eating healthier or working harder? Sadly most New Year resolutions will be broken after just a…