Expatriate tax director of Global Expatriate Tax Services Ltd and official Expat Focus UK tax partner Oliver Heslop discusses the recent UK budget and its impact on British expats
Budget Day in the UK was 19 March 2014, when the UK Chancellor George Osborne announced the UK economy to be very much back on track.
We consider the reforms that he has announced to UK pension annuity rules to be seismic changes.
Despite the changes on pensions, in 2014 the average UK taxpayers will say that they are not feeling the benefits of the UK recovery. With a General Election already fixed for 2015, it was perhaps important for the Government to look after key voters. Some critics argue that they targeted pensioners in this Budget, who are more likely to vote than the under 30’s. We do not wish to be drawn into any political discussion here. Tax facts only!