Tag Archives: UK Budget

UK Budget & Spending Review October 2021 – a summary for expats

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As has been the case for the past couple of years, many of the Budget measure have been leaked or drip-fed to the press so we were not expecting much in the way of surprises and there is nothing that dramatic.

This article is a brief overview of some of the main points with particular reference to any changes that have relevance to those living outside of the UK and especially in the GCC. The UK press will cover many points in detail but many of the points will not be directly relevant to expats so this article focuses on the points that will be most relevant to us.

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UK Budget March 2021 – the facts for expats

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There is no question that this will not have been an easy Budget to put together. There are still uncertainties in respect of Covid19 and the UK economy has problems, for more than one reason. With so many people on a reduced income and many businesses suffering,  tax hikes right now would be even more unwelcome than usual.

At this point in time, the UK is in more debt than it has been at any point in the past 50 years, at some £2.13 trillion which equates to 99% of GDP. Over the past 12 months the UK economy has shrunk by 10%, and some 700,000 people have lost jobs. UK unemployment is expected to peak at 6.5% in the 2021/22 tax year.

What is required now is to stimulate growth in the economy but I don’t think there is any immediate fix. The two main issues are to reduce debt and to support people and businesses who have been hardest hit – somewhat opposing issues.

No one knows quite how many people on furlough will actually have jobs to go back to and latest figures indicate that there are currently 6 million people on furlough in the UK at the moment.

This article is a brief overview of some of the main points with particular reference to any changes that have relevance to those living outside of the UK. The UK press will cover many points in detail but much of this is not directly relevant to expats so this article focuses on the main issues, highlighting any of relevance to expats.

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UK Summer Economic Statement July 2020 – the facts for expats

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The UK’s Chancellor of the Exchequer, Rishi Sunak, has presented his Summer Economic Statement, a de facto budget, and this article is an overview of the main points with particular reference to any announcements or changes that are relevant to those living out of the UK.

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UK Spring Statement 2019 – points of relevance to expats

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The UK’s Chancellor of the Exchequer, Philip Hammond, has today delivered his Spring Statement. Less formal or broad in scope than the Budget, which moved to the Autumn last year, this is not about announcements on tax or spending, but more about economic forecasts.

The Chancellor himself describes this as a ‘non event’ from a financial point of view  but  since 1975, the government has been legally obliged to produce its projections for the economy and the public finances twice a year. That’s why have a main budget and this lower key announcement.

The question for expats, as ever, is how does it affect us?

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UK Autumn Budget 2018 – the facts for expats

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This is just the second UK Autumn Budget and unusually it was on a Monday, the first time since 1962.  Budgets are normally on a Wednesday but that would fall on Halloween this year so too much of a gift to headline writers.

This is the last Budget before Brexit and not too much was expected as the UK Government is dealing with complicated Brexit issues although there will be a Spring Statement that can be upgraded to a full Budget if deemed necessary.

This article is a brief overview of some of the main points with particular reference to any changes that have relevance to those living outside of the UK. The UK press will cover many points in detail but much of this is not directly relevant to expats so this article focuses of the relevant points for us. Continue reading →

UK Autumn Budget 2017 – the facts for expats

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This is the first Autumn Budget after it was announced that the main one would be issued towards the end of each year. This time there is little that directly affects expats and much of the focus was on the UK housing market with a surprise announcement about Stamp Duty.

This article is a brief overview of some of the main points with particular reference to any changes that have relevance to those living outside of the UK.

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