Designed for workers moving back to the UK from UAE and other markets
Financial services firm, Headway Wealth, has launched repatriation planning – a specialist advisory service for expat workers relocating to the UK from countries in the Middle East and Far East.
Headway Wealth has launched ‘Expat-Repat’ to help British workers negotiate the many financial challenges involved in repatriating to the UK, including tax compliance, repatriation of foreign currency, mortgage brokering, and pension contributions.
Chief Executive, Hamzah Shalchi, previously ran Dubai-based Guardian Wealth Management before moving back to the UK last year to launch his own firm. He has first-hand experience of the complications involved in shifting his savings and assets in accordance with the British tax system.
“Returning to the UK after time working overseas as an expat can be a big decision, filled with mixed emotions and financial unknowns,” he said. “Having been through it ourselves, we are perfectly positioned to address concerns over cross-border taxation liability, holdings in multiple currencies, the validity of insurance contracts, and much more.
“Just as you would hire a haulage company to move your physical belongings, we’re offering a service that moves your financial assets smoothly and seamlessly. We work with clients to take the stress out of the move, simplifying their tax situation and making the most of their finances in the UK.”
The most recent figures published by the UK Office of National Statistics suggest that 784,900 British citizens live in EU countries, excluding Ireland and the UK itself. Millions more earn a living in Asia, Africa and the Americas, often enjoying tax free status. In the UAE, Britons represent the largest of any western community.
Despite the UK economy suffering from Brexit-related uncertainty, numerous British citizens return home every year. Many are attracted by the UK’s schooling and health system, while others are forced into the move as countries including the UAE experience fewer job opportunities and declining wage growth.
“The UK is a fantastic country to live in and a lot of people want to come back,” said Mr Shalchi. “Half of all British expats will repatriate at some point, typically after about six years living overseas. This gives us a huge potential market and we’re very excited for the future of our service.”
Headway Wealth was launched in the UK this year and offers a full suite of advisory services in such areas as pensions and retirement, savings and investments and wealth management. Fully-licensed by the FCA, the company boasts a team highly-experienced financial specialists at its new London headquarters. The team includes technical specialists, portfolio managers, investment analysts, researchers, and paraplanners, all licensed in the UK. It has a wide contact base with respected legal advisers, accountants and international tax specialists.