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May 2019

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UK Pension Transfers

Just about everyone that has lived and worked in the UK will have a UK pension scheme of some description.  This includes not only the thousands of British expats currently living in New Zealand but also the many Kiwi’s that followed their rite of passage by working and living in the UK.  In recent times unprecedented numbers of people are getting out of their UK final salary and defined benefit pensions – transfers out of such UK schemes went from £7.9bn in 2016 to £20.8bn in 2017 and is forecast to increase again for 2019.

Brexit and global and local economic factors present opportunities for those wanting to withdraw from their pension schemes but there are also risks and tax issues that must be considered.

Read more here

Update: Ring-fencing of Residential Rental Losses

New ring-fencing rules for residential rental losses will take effect from 1 April 2019, even though they haven’t actually been passed yet (and probably won’t be a passed until August/September at the earliest). 

Read more here

Cullen Group, NRWT & AIL

IRD appear to have a new “pet project” on the go in relation to NRWT/AIL structures following their recent win in the High Court involving Eric Watson’s Cullen Group. 

Read more here

Leaky Buildings: A soggy mess

Despite our best efforts, it seems the issue of deductibility in relation to so called leaky buildings is destined for the scrap heap, with taxpayers suffering a resounding loss. 

Read more here


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Please contact Bruce Watt ( or phone on
09 309 6505).