Bringing you live news and features since 2006 

Old Mutual International launches expat referral service

RELATED TOPICS​

Old Mutual International has launched an expat referral service offered by EY, at a time when expats and non-UK domiciles will value expert tax advice following the Brexit vote.

Over the coming months and years, this demand is likely to increase as more detail emerges on the potential legislative changes. 
 
Tax planning for expats and non-UK domiciles has become increasingly complicated. There is increased scrutiny on people’s tax affairs and people want reassurance that they are meeting their tax obligations. Add in Brexit, and the situation will get even more complicated.
 
EY is a global leader in assurance, tax, transaction and advisory services. The EY referral service will complement the services the client currently receives from their financial adviser. 
 
The new referral service will offer expert tax advice to those looking to relocate overseas or relocate to the UK. The service aims to give peace of mind to advisers and clients, that all aspects of the client’s tax position have been considered in advance of leaving or arriving in the UK. Some tax matters may need to be addressed before relocation in order to comply with current tax legislation.
 
The referral service offered by EY also provides non-domiciles living in the UK with a review service. The domicile of an individual can have a big impact on the way in which they are subject to taxation in the UK, so a review service can help ensure their tax affairs are in order. Clients can access a suite of advisory services tailored specifically for non-UK domiciled individuals.
 
Old Mutual International will be promoting the service to its clients and has agreed a special fee structure with EY for clients wishing to access the service.
 
Rachael Griffin, financial planning expert at Old Mutual Wealth, says: “We just don’t know what effect Brexit will have on expats and non-UK domiciles living in the UK or the impact it will have in terms of emigration/immigration. On the one hand, we would expect to see legislation which helps encourage investment into the UK from overseas, but on the other-hand, the UK Government’s priority could be to raise tax revenue. One thing is certain, we can expect a period of change over the next couple of years and professional connections can be extremely beneficial for advisers and their clients in periods of change and uncertainty. Advisers and their clients will want peace of mind that they are meeting their tax obligations in the country they live as well as the country in which they are domiciled, and the services of a professional tax expert can be invaluable.”

Latest News

HSBC Asset Management’s (HSBC AM) ETF and Indexing business has passed USD100 billion in assets under management (AUM), reflecting its..
Amundi’s ETF Market Flows Analysis for April reveals that investors added EUR54.1 billion to global ETFs in April with equities..
VanEck has reached USD10 billion in assets under management in Europe for the first time in April 2024...
Global index revenues increased 9.3 per cent in 2023, totalling a record USD5.8 billion, according to a benchmark study published..

Related Articles

Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Sean O' Hara
Pacer ETFs has announced the launch of three Cash Cows UCITS ETFs. The firm writes that this will give European...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by