Will 10% Death Tax encourage greater migration?

Geraint Davies Managing Director of migration advice experts Montfort International plc believes it just might. “These proposals will hit so many moderate-to-high earners. If you can change countries then not only could you escape this tax, but countries like Australia and New Zealand do not levy any inheritance Tax or Death Duties. It seems according to Davies “Andy Burnham, UK’s Health Secretary may not have factored in the consequences of migration. There is only a certain amount of tax – people are prepared to pay. Having a UK pensions that can be transferred into a Qualifying Recognised Overseas Pension Scheme is looking more and more attractive”.

“Burnham wants to see those with bigger houses (apparently it will affect 17,000,000 families) pay more toward social care for the elderly. So the lure of sunshine, the potential for a lower cost of living and freedom form being told what to do is going to be a magnet and then coupled with the potential to take greater tax free capital and income – will prove to be one slap across the face to many”.

Sound UK exit advice is a must, a pension transfer overseas into a QROPS has significant advantages.