NZ returning to UK - advice on what to consider
Feb 18th 2022, 9:30 pm
#1
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Thread Starter
Joined: Feb 2022
Posts: 1
NZ returning to UK - advice on what to consider
Hi all. New here. My partner and I moved to NZ from Wales almost 5 years ago and I'm wanting to return (he isn't, but we'll cross that hurdle later).
When we moved here, we had a lot of support from my workplace who sponsored us and took care of so many things. We came here in such a rush. Now I'm looking to make plans to move back (time frame to be determined), I want to know where to start and what I need to consider. I can deal with the physical move and finding a new job, etc, but I have zero knowledge about financial and tax considerations. Any and all advice appreciated. Does anyone know the average cost of moving back to the UK from NZ for a couple? I'd like to make a planned timeline so I know how to work this through as smoothly as possible.
A few more details in case they have any bearing on what I need to consider -
There are no time constraints to the move but I am tied in to some 12 month contracts.
We just applied for permanent residency in NZ so our (valid UK) passports aren't available to us for up to 5 months.
I have 2 NZ pensions here - a Kiwisaver and a Unisaver. My partner has a Kiwisaver and some shares gifted from his workplace that he is only allowed to sell in small batches every 3 months.
A few years ago I transferred a UK pension into a Booster SuperScheme and it was invested by my financial advisor into short term (5 year minimum) investments, in GBP.
We bought our first home in NZ around 6 months ago on a 25 year mortgage. It's our primary residence. We would sell this when we decide to move rather than worrying about having an overseas rental.
We have no children, family or pets in NZ.
We kept our UK bank accounts.
We are fully vaccinated with booster shots (Pfizer).
Thanks in advance. I'd love to hear from anyone with a similar experience and I've been reading through the threads posted here - it's really helped, emotionally speaking.
When we moved here, we had a lot of support from my workplace who sponsored us and took care of so many things. We came here in such a rush. Now I'm looking to make plans to move back (time frame to be determined), I want to know where to start and what I need to consider. I can deal with the physical move and finding a new job, etc, but I have zero knowledge about financial and tax considerations. Any and all advice appreciated. Does anyone know the average cost of moving back to the UK from NZ for a couple? I'd like to make a planned timeline so I know how to work this through as smoothly as possible.
A few more details in case they have any bearing on what I need to consider -
There are no time constraints to the move but I am tied in to some 12 month contracts.
We just applied for permanent residency in NZ so our (valid UK) passports aren't available to us for up to 5 months.
I have 2 NZ pensions here - a Kiwisaver and a Unisaver. My partner has a Kiwisaver and some shares gifted from his workplace that he is only allowed to sell in small batches every 3 months.
A few years ago I transferred a UK pension into a Booster SuperScheme and it was invested by my financial advisor into short term (5 year minimum) investments, in GBP.
We bought our first home in NZ around 6 months ago on a 25 year mortgage. It's our primary residence. We would sell this when we decide to move rather than worrying about having an overseas rental.
We have no children, family or pets in NZ.
We kept our UK bank accounts.
We are fully vaccinated with booster shots (Pfizer).
Thanks in advance. I'd love to hear from anyone with a similar experience and I've been reading through the threads posted here - it's really helped, emotionally speaking.
Feb 19th 2022, 4:54 am
#2
Forum Regular
Joined: Oct 2015
Posts: 207
Re: NZ returning to UK - advice on what to consider
Hi all. New here. My partner and I moved to NZ from Wales almost 5 years ago and I'm wanting to return (he isn't, but we'll cross that hurdle later).
When we moved here, we had a lot of support from my workplace who sponsored us and took care of so many things. We came here in such a rush. Now I'm looking to make plans to move back (time frame to be determined), I want to know where to start and what I need to consider. I can deal with the physical move and finding a new job, etc, but I have zero knowledge about financial and tax considerations. Any and all advice appreciated. Does anyone know the average cost of moving back to the UK from NZ for a couple? I'd like to make a planned timeline so I know how to work this through as smoothly as possible.
A few more details in case they have any bearing on what I need to consider -
There are no time constraints to the move but I am tied in to some 12 month contracts.
We just applied for permanent residency in NZ so our (valid UK) passports aren't available to us for up to 5 months.
I have 2 NZ pensions here - a Kiwisaver and a Unisaver. My partner has a Kiwisaver and some shares gifted from his workplace that he is only allowed to sell in small batches every 3 months.
A few years ago I transferred a UK pension into a Booster SuperScheme and it was invested by my financial advisor into short term (5 year minimum) investments, in GBP.
We bought our first home in NZ around 6 months ago on a 25 year mortgage. It's our primary residence. We would sell this when we decide to move rather than worrying about having an overseas rental.
We have no children, family or pets in NZ.
We kept our UK bank accounts.
We are fully vaccinated with booster shots (Pfizer).
Thanks in advance. I'd love to hear from anyone with a similar experience and I've been reading through the threads posted here - it's really helped, emotionally speaking.
When we moved here, we had a lot of support from my workplace who sponsored us and took care of so many things. We came here in such a rush. Now I'm looking to make plans to move back (time frame to be determined), I want to know where to start and what I need to consider. I can deal with the physical move and finding a new job, etc, but I have zero knowledge about financial and tax considerations. Any and all advice appreciated. Does anyone know the average cost of moving back to the UK from NZ for a couple? I'd like to make a planned timeline so I know how to work this through as smoothly as possible.
A few more details in case they have any bearing on what I need to consider -
There are no time constraints to the move but I am tied in to some 12 month contracts.
We just applied for permanent residency in NZ so our (valid UK) passports aren't available to us for up to 5 months.
I have 2 NZ pensions here - a Kiwisaver and a Unisaver. My partner has a Kiwisaver and some shares gifted from his workplace that he is only allowed to sell in small batches every 3 months.
A few years ago I transferred a UK pension into a Booster SuperScheme and it was invested by my financial advisor into short term (5 year minimum) investments, in GBP.
We bought our first home in NZ around 6 months ago on a 25 year mortgage. It's our primary residence. We would sell this when we decide to move rather than worrying about having an overseas rental.
We have no children, family or pets in NZ.
We kept our UK bank accounts.
We are fully vaccinated with booster shots (Pfizer).
Thanks in advance. I'd love to hear from anyone with a similar experience and I've been reading through the threads posted here - it's really helped, emotionally speaking.
Feb 19th 2022, 10:30 am
#3
BE Forum Addict
Joined: Aug 2013
Location: Eee Bah Gum
Posts: 4,128
Re: NZ returning to UK - advice on what to consider
I would be inclined to get New Zealand citizenship first in case you move back and then change your mind. It does happen - frequently. Otherwise, moving back to the UK should be fairly straightforward. You will need to deal with any tax considerations on your investments on a case by case basis and the information is usually all there on the government websites. If in doubt, my experience is that it is better to seek professional advice on tax and investments rather than solicit information on an open forum. Moving costs can vary, just try to get a good exchange rate.
Here is the UK/NZ Tax Treaty to browse if the OP hasn't already.
https://www.gov.uk/government/public...d-tax-treaties
Since the OP has existing pension plans to consider then definitely worth taking time to explore the options here. For example, before we, and later our son, moved back from the USA we all had defined contribution plans through our employers and made moves before we left to ensure that we could still access them from the UK once we had left.
