Sep
30

Sep
30
Impact of Brexit on UK Bank Account holders
If no trade deal is agreed with the EU due to Brexit, many Britons living in the EU will have their UK bank accounts closed by the end of 2020. The current ‘passporting’ arrangement that allows banks to trade across the EEA will expire.
Several banks, such as Barclays, Lloyds and Coutts have already started informing customers living in the EU of the forthcoming closure of their accounts. More banks are expected to follow in their footsteps.
Certain banks have EU-based branches with EU trade licences in place and they may transfer accounts where possible.
Many expats retain a significant level of cash/assets in the UK. Many Expats will also be receiving UK pension payments into their UK bank accounts. If no trade deal is agreed you will have to make alternative arrangements.
If this impacts you, we would encourage you to get in touch. We have dual-qualified Financial Planners who are well placed to offer help and advice.
Contact us HERE or call us at our Geneva office on 00 41 22 311 1441 or our UK office on 00 44 131 600 0625
The popularity of Self-Invested Personal Pensions (SIPPs) is on the rise, and a growing aw...
Read MoreBetween April 2023 and June 2023, HMRC receipts from inheritance tax (IHT) totalled £2.0 ...
Read MoreAs you approach retirement, it’s crucial to ask yourself some important questions to...
Read MoreIn 1999, a multi-million-dollar mission to Mars failed spectacularly after a mix up betwee...
Read MoreThere are several ways that Forth Capital can simplify the finances of our clients, but on...
Read MoreWith the Chancellor of the Exchequer unveiling a significant enhancement to UK pension&nbs...
Read MoreIt’s not uncommon for British expatriates living in the US to hold Passive Foreign Inves...
Read MoreThe UK Government has extended the deadline to make larger top ups to your UK State Pensio...
Read MoreDon’t miss your chance to fill any gaps in your National Insurance (NI) contribution...
Read MoreThe Japanese have a word for purpose – ‘ikigai’ – which translates as ‘r...
Read MoreYour UK Pension Savings might not be working as hard as you think. By holding pension savi...
Read MoreWith the cost of living rising across the world, individuals and businesses are looking to...
Read MoreForth Capital has been shortlisted for the Excellence in Advisory Best Practice Award 2023...
Read More