British Expats Returning To UK
Executive Summary – Due to the declining value of the UK Pound Sterling many Brit
Expats are planning to return to the UK. The declining pound has lost about one third of its
exchange value so far and is still on the way down. There are 5.5 million british expats of
which 1.1 million are pensioners.
Where are the Brit Expats Now -
Australia – 1,062,000
USA – 829,000
Canada – 608,000
Spain – 447,000
France – 398,000
Housing Prices Where the Brit Expats Are Dropping – A lot of the 1.5 million Brit
Expats that own a home have been forced to sell their vacation or retirement home at a loss
or downsizing. This drop in values was most acute in Spain.
Expats with a Sterling Pension – These are the ones hit hardest since their pension does
not adjust upwards with inflation unless they live in USA due to some sort of treaty. The
pound used to buy 1.5 euros and now it is buying one euro (par). The value of the USD has
also shot up against the pound making it harder for those in the USA.
Change in Tax Treatise for British Expats – The UK has tightened the rules for Expats
being tax exempt. Any ties to the UK like owning a home there, having a bank account
there, having a child in college or school there or even owning a UK cell phone can serve to
end any expat living abroad as a non-resident tax exemption according to recent rulings.
This will also make return to the UK to work more attractive since the tax benefits for many
are gone and they are going retroactive for three years on these tax determinations.
Discussion – Any high tax police state using fiat money will wind up like this. The worst
has yet to come.