Siddalls advises proper planning for emigrants

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Siddalls advises proper planning for emigrants

Fri 29th Feb 2008

Financial advice firm Siddalls has urged Britons planning to emigrate to take the time for "proper planning" when it comes to their finances.

Robert Brealey, Siddalls pensions adviser, suggested those planning to move or retire abroad should consider getting specialist advice on the financial implications.

While people's money could potentially go further outside the UK, Mr Brealey said this is dependent upon an individual's standard of living.

"Ideally the clients should seek advice from specialist advisers who are familiar with the tax implications of the UK and your country of residence," he advised.

Mr Brealey suggested such advice could stretch people's finances and ensure their benefits are optimised and taxes are minimised.

According to the Office for National Statistics, a record high number of people left the UK for at least a year in 2006.

The organisation believes around 400,000 people emigrated, with nearly a third opting for Australia, New Zealand, Spain, France or the USA.

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