British Expats

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-   -   Moving abroad (https://britishexpats.com/forum/scandinavia-174/moving-abroad-934603/)

Sam 222 Sep 1st 2020 10:23 pm

Moving abroad
 
Hi there
I'm 45 years old, holding British nationality, been living and working for 20 years here I also have a flat here ( like to renting it out ),,,, I am moving abroad to a EU country ,have some questions, appreciate any advice, I only know that I need to fill p85 + p45 and part 2, 3
Q1. What happened to my state pension when I moved abroad, shall I contact HMRC when I reach 65?
Q2. What about my NI. 18 full years.
Q3.im still working, shall I/can I ask my Employer now for P45 and part 2,3
Q4. Do I need an accountants to sort this out for me before I leave, or I could do forms by myself?
many thanks for any advice and will welcome any suggestions .

Pulaski Sep 1st 2020 11:16 pm

Re: Moving abroad
 
1. Yes
2. You will get a part pension, right around 50% of a full pension (based on a full pension needing 35 years of contributions) or you can pay for addtional years even when you are outside the UK - apply to contribute Class 2 conributions and it only costs around £145/yr, until you get up to 35 years of contributions.
3. When you resign you should get a P45, just as usual when you leave a job.
4. No, it's not difficult - file a P85 when you leave the country and you'll get overpaid PAYE back.

dmu Sep 2nd 2020 6:26 am

Re: Moving abroad
 

Originally Posted by Sam 222 (Post 12904609)
Hi there
I'm 45 years old, holding British nationality, been living and working for 20 years here I also have a flat here ( like to renting it out ),,,, I am moving abroad to a EU country ,have some questions, appreciate any advice, I only know that I need to fill p85 + p45 and part 2, 3
Q1. What happened to my state pension when I moved abroad, shall I contact HMRC when I reach 65?
Q2. What about my NI. 18 full years.
Q3.im still working, shall I/can I ask my Employer now for P45 and part 2,3
Q4. Do I need an accountants to sort this out for me before I leave, or I could do forms by myself?
many thanks for any advice and will welcome any suggestions .

Hi, and welcome to the forum!
Which EU country are you considering? Do you speak its language? Will you be working? (self-employed?), or living on your UK rental income? If France is your destination, your healthcare coverage will be governed by your employment or pre-retirement status. If you intend to work from home, you must set up a French business structure.
Best to post again in the dedicated forum of the country concerned, or continue in this one for the many others...
You need to have started the Residency procedure (rental receipts/Property Deeds for justification of domicile, justification of adequate income, etc...) before 31st December 2020 in order to benefit from the present WA rules, after which it's likely you'll need a Visa....
HTH
P.S. If you continue working for your present employer while living in the EU, you can't work "free-lance" for them in France, you must be "posted", with all the hassle and financial consequences involved for your employer. More details in #20 of the Read-Me: Moving to France FAQs in the France forum.
To avoid giving unnecessary info, best to tell us which country you're thinking of moving to!!

Sam 222 Sep 2nd 2020 7:25 am

Re: Moving abroad
 
Hi there
many thanks for reply, I'm moving to Sweden, have no Visa problem as having girl friend there, but have no job there, so I need to look for a job there, while I'm using my renting income, (part of my renting income goes for mortgage here).the other issues I see is that, I need to resign, then wait for p45 ,part 2,3 .to come ,then send them for HMRC...I may losing a month wage here .many thanks for your advice,

dmu Sep 2nd 2020 8:32 am

Re: Moving abroad
 

Originally Posted by Sam 222 (Post 12904738)
Hi there
many thanks for reply, I'm moving to Sweden, have no Visa problem as having girl friend there, but have no job there, so I need to look for a job there, while I'm using my renting income, (part of my renting income goes for mortgage here).the other issues I see is that, I need to resign, then wait for p45 ,part 2,3 .to come ,then send them for HMRC...I may losing a month wage here .many thanks for your advice,

OK, so post again in the Scandinavia forum!!
You should check how Sweden treats a "mixed" (EU/non-EU) couple which isn't legally bound. Probably more "partner-friendly" than France from all Administrative aspects, but make sure first.... Also check the work market in your line of work before you take the plunge...

christmasoompa Sep 2nd 2020 9:06 am

Re: Moving abroad
 

Originally Posted by Sam 222 (Post 12904738)
Hi there
many thanks for reply, I'm moving to Sweden, have no Visa problem as having girl friend there, but have no job there, so I need to look for a job there, while I'm using my renting income, (part of my renting income goes for mortgage here).the other issues I see is that, I need to resign, then wait for p45 ,part 2,3 .to come ,then send them for HMRC...I may losing a month wage here .many thanks for your advice,

OK, so I've moved your thread to the Scandinavian section of the forum. Are you sure having a Swedish gf allows you to live there visa free after Brexit? Just seems unusual, but I've no idea on Sweden's visa rules, so perhaps it is that relaxed.

Not sure why you think you'll lose a month's wage? Unless of course it takes you a few months to find work in Sweden. You don't need to do anything before moving abroad, you can move the day after you finish your job if you wish and file the P85 after leaving.

Sam 222 Sep 2nd 2020 9:58 am

Re: Moving abroad
 
Thanks for reply, the reason I'm saying I may loose 1,2 month wage here in uk ,is that I have to resign first, and then wait for my p45 to arrive, to send it with p85, i believe takes about 4 weeks, isn't it, many thanks

christmasoompa Sep 2nd 2020 4:05 pm

Re: Moving abroad
 

Originally Posted by Sam 222 (Post 12904774)
Thanks for reply, the reason I'm saying I may loose 1,2 month wage here in uk ,is that I have to resign first, and then wait for my p45 to arrive, to send it with p85, i believe takes about 4 weeks, isn't it, many thanks

Your employer should give you your P45 when you leave the job, but they can email or post it you anyway, hence why I said you can just fly to Sweden the next day if you wish.

Pulaski Sep 2nd 2020 4:14 pm

Re: Moving abroad
 

Originally Posted by christmasoompa (Post 12904940)
Your employer should give you your P45 when you leave the job, but they can email or post it you anyway, hence why I said you can just fly to Sweden the next day if you wish.

Agreed, I was thinking the same thing - P45 and other tax paperwork can be mailed to/ from overseas, there is no need to wait around at all.

When I resigned my job and left the UK I left less than a week after my last day at work, and dealt with most things by mail.

Sam 222 Sep 3rd 2020 6:59 am

Re: Moving abroad
 
I appreciate all your advice, can I ask would I be able to fill p85 ,p45 and part 2,3 on line?
.I been told that to emerge all my pension in one pot before I leave uk, as would be more difficult later on life come back and look for different companies, your pensions, may be no address in uk, many thanks for your advice.

christmasoompa Sep 3rd 2020 8:37 am

Re: Moving abroad
 

Originally Posted by Sam 222 (Post 12905176)
I appreciate all your advice, can I ask would I be able to fill p85 ,p45 and part 2,3 on line?
.I been told that to emerge all my pension in one pot before I leave uk, as would be more difficult later on life come back and look for different companies, your pensions, may be no address in uk, many thanks for your advice.

P85 can be done online - https://www.gov.uk/government/public...-tax-right-p85. Or you can just post it from Sweden, your call.

I'd take advice on the pensions personally, do look in to continuing to make NI contributions from Sweden though, as it may be worth doing that to get a full UK state pension too.

Sam 222 Sep 3rd 2020 9:15 am

Re: Moving abroad
 
Superb, thanks, if I wanted emerge all my pension one pot, is it necessary, how can I do that, incase of no uk address in later life.
many thanks

Sam 222 Sep 3rd 2020 9:19 am

Re: Moving abroad
 
My apology I forgot, is part 2,3 of p45 ,is included when you receive p45, or again you need to ask for it, thanks

Pulaski Sep 3rd 2020 1:39 pm

Re: Moving abroad
 

Originally Posted by Sam 222 (Post 12905214)
Superb, thanks, if I wanted emerge all my pension one pot, is it necessary, how can I do that, incase of no uk address in later life.
many thanks

"Emerge" = merge? ..... Which pensions? Company and private?

You can't merge your state pension with anything. There is no need to merge any others, and IMO there are good reasons not to do so, but some companies have offered extraordinary buyout deals for people to exit a cmom,pany scheme, and so yo should be able to take such funds and add them to a private pension. So far as merging prvate penssions goes, it is totally unnecessary, and as I said there may be good reasons not to do so, but if yo have any with small balanaces it might makes sense, just for ease of administtration (at your end) to move the funds into a pension accont with a larger balance.

The primary reason to keep funds separate is for diversification - so as not to have all your eggs in one basket, in the (very unlikely) event that a pension fund manager went bust. You shouldn't lose any funds under those circumstances, but you could find that your flow of pension payments is interrrupted.

Just be aware that managing UK pension funds from outside the UK can be tricky, expecially when a fund manager insists that you obtain advice from an "independent financial adviser" (IFA) before you are allowed to move funds or make an investment. The problem is that IFAs usually won't advise someone who is living overseas, and financial advisers outside the UK rarely, if ever, meet the UK's criteria of being an IFA.

Sam 222 Sep 4th 2020 3:37 pm

Re: Moving abroad
 
Hi and many thanks for fab advice, have Q.,if I move and live in Sweden, would I be able to get a secure loan against my property here in the UK?
Many thanks


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