"Expats are already weighing their options,"
"Even the possibility of new or extended taxes on pensions is enough to set serious savers in motion. British nationals living in Europe, those planning to retire there, or other nationalities, such as Irish and Dutch with UK pensions, are now considering international solutions to protect their retirement income."
"People recognise that Malta's EU-recognised framework provides flexibility, strong investor protection and potential tax efficiencies that could prove vital if the UK introduces tougher rules."
Speculation that the UK Chancellor may tighten tax treatment of retirement savings ahead of the November Budget has prompted British expatriates across Europe to consider moving pensions out of the UK. A £20 billion public-finance gap and higher borrowing costs have intensified pressure to raise revenue without headline income-tax increases, putting pensions under scrutiny. deVere Group reports increased enquiries from UK citizens in Portugal, Spain, France and the Netherlands, with many exploring cross-border EU IORP structures in Malta. Malta allows tax-efficient lump sums of up to 30%, phased income options and inheritance treatments often outside UK death duties for non-residents. Portugal, Spain and France retain attractive regimes for mobile retirees. Concern extends beyond high-net-worth individuals to serious savers seeking international solutions to safeguard retirement income.
Read at London Business News | Londonlovesbusiness.com
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