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I received a NT tax code on my payslip. I am a partner at a law firm in UK but only for 1 year as I'm originally coming from the US. Im considered self employed. When i go in the hrmc, it says im paying the right amount of taxes and shows 0. Does this mean i dont have to pay any taxes to the hrmc?

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I get a state pension here in the states and I also get a small state pension from UK. My question is do I have to include my UK pension in my taxes.

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I was contracted out for a number of years,then contacted back in when that scheme was discontinued. My pension company wrote to me stating that all the contracted out payments would be reinstated by them to HMRC. When my state pension payments started at the age of 65 I had a £25 pound a week reduction for a period of contracted out years. I have written many times to the pension company and they haven’t satisfactorily explained the subject. Two letters to HMRC in the last couple of years weren’t even replied to. I’m stuck in between two organisations who point their fingers at each other.

Wow this is wonderful terrific news

Thank you. Great information. I like the format. Makes the material less daunting!

Your podcasts are really useful please keep them up

Super important podcast super important topic…keep it up I find your podcasts very useful very informative

Does the UK Department of work and pensions tell Social Security if you get the state pension? In other words, can you just keep quiet about it and still receive your full Social Security payment or is the risk that they will find out later and hit you up with some kind of penalty?

Great content, as always! I need some advice: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?

But we’re still being artificially pumped up

Title is “can I afford to retire?” Did this vid address that question?

What counts as a year paying into social security. Is it any contribution at all or is there a minimum annual amount to pay in?

This doesn't explain anything. Someone contracted me out, there is no COPE figure on the Gov website so have no idea what this will mean for me. NOONE gave me a choice nor did they tell me I was contracted out=ILLEGAL!

Curious how exchange rates compare to what global banks with premier customers who get easy online global transfers. I’m with hsbc and get very easy global transfers between my accounts.

Who was the guy struggling to explain? Is he qualified to give the advice. He did get there in the end though. Well done for trying.

I contracted out in an old prudential pension that should not affect my state pension now should it? shurly it only affects occupational pensions which have gained at the times because they were paying less national insurance contributions...

My state pension entitlement has been reduced by 15% because of this. I had no idea what contracting out might mean and dont remember getting a choice. Feels like a government con. Future scandal and claim back i suspect.

Are beneficiaries respected across country ?

And the cross agreements apply at the federal level not the state level…

One part that interests me is how much one can avoid probate issue by setting up beneficiaries. Also important to note that as a bit in America I both have to deal with my British parents in the uk, then me in the USA, as well as my son currently in the USA.

Not a very easy to listen to person.

Wow this is complex, happily when I moved to the USA I pretty much liquidated everything, so my only uk assets are a small bank account with petty cash and my pension which will be passed over by beneficiary process. Any comments on beneficiary of private pension ?

78-96 for me army contracted out never asked for it it just happened and was not told about it and yes it did affect my state pension I had to buy a extra year and still don’t get the full state pension.

Pathetic!

I became a British citizen by the age of 36 and I would love to start making voluntary NIC as a British living abroad, the fact is, I've never worked o resided in UK. Do I have some possibility to get a ID number for this and start paying for 10 years? Is it mandatory to have a year worked in UK contributing with work? Thanks!

OFF TOPIC BUT PENSION RELATED - I'm looking for some clarity about the reduction in occupational pension scheme payments that occurs when you reach state pension age. The background to the question is that a friend & I started as apprentices on the same day in 1976, but his deduction (about £18 a year) is about three times mine (£6.09 a year) while his wife who started work in a bank a couple of years before that is looking at a £400+ a year reduction. The wide spread of values seems to be more random than calculated; how is it worked out? £6 a year isn't significant, but the larger £400 payment is going to be noticeable (albeit offset by the start of the state pension). Thanks in advance.

The voting q is interesting, u less you give up British citizenship British laws, including tax laws, still apply, I vote because as an expat tax laws still apply to me in the uk, not because I have any other ties of significance.

Can’t you avoid inheritance tax in some cases by setting up beneficiaries ? Doesn’t that mean the money from a pension goes direct to the beneficiaries and not through the estate ?

Your podcast is really awesome

Really good information, thank you very much.

Except they didnt tell me this all my working life, until I was very close to retiring! What a fraud!

No tax on retirement income in Pennsylvania 👍 thanks for the informative video guys!

So what if the ONLY offshore asset is a private pension ?

You both look too young to have lived through that nightmare which was NEVER properly nor clearly explained - and it seems you cannot give a concise and clar explanation.. Nor I guess through Gordon Brown's raid on pensions funds.

Thanks

I am one of those people who were advised by the government and employer to 'contract-out', all those years ago, and now find that my state pension is reduced. This wasn't made known to me at the time.

I thought the most important thing to know was that California is a crap hole for businesses.

The culture varies significantly too. You would need to: Pick one state to start Research the state, look for 5-7 distributors Travel to that state, meet with dists Pick say 3, work with them for x maths Be prepared to let 1-2 go Build the relationship over 1-2 yes Network with the distributor on identifying next state and distributor. Rinse and repeat 🙂

Delaware. The answer is Delaware.

Germany has the same with 16 little states inside, each one different.

Don't. Just don't.

Really Tarquin? Im British and rhe last thing i want is for my government to look after me. But then im not a soft, southern, shandy drinker like this buffoon.

that’s some English, privately schooled upper class way of thinking …..government is there to protect us 😂 your hedge funds not our pensions or nhs.

What a load of

Tom segura’s British cousin

Interesting Pod cast, can you help me with the difference between an expat and an immigrant speaking as an immigrant to Australia I am always interested in the difference?