Soteria Article

What is the difference between Pension Trusts and Contract Pensions?

The short answer to “What is the difference between pension trusts and contract-based pensions” is that a Trust Pension is established by a settlor, and the assets within are set up in trust, whereas a Contract Pension involves an individual contract between an employee, or an individual and a pension provider. In both cases, the…
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Pensions for non-residents in Guernsey explained

Guernsey has one of the most modern regulatory regimes that conform to international finance and pension standards. In 2001 and 2017, Guernsey became one of the first jurisdictions in the world to regulate pension providers and rules. These and other regulatory and taxation rules make Guernsey a jurisdiction that is a safe place to keep…
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A simple way to calculate your retirement fund

There comes the point in life when we all start to wonder about retirement. Not only do we ponder about how wonderful life will be, how many places we can visit, and things we will finally have time to do, but more importantly, we contemplate whether we will be able to afford the lifestyle we…
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How to reclaim Stamp Duty Land Tax

How to reclaim Stamp Duty Land Tax

Stamp Duty Land Tax is a big part of the property buying process in the United Kingdom. It is a tax that every homebuyer or commercial property buyer has to pay, and the amount is usually a significant expenditure. Besides having to follow the SDLT rates, the amount you pay when you purchase a property…
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History of Stamp Duty Land Tax

A Brief History of the Stamp Duty Land Tax

This article presents the history of Stamp Duty Land Tax and how this property tax changed over the years in the United Kingdom. Stamp Duty was first introduced in England in 1694 to help fund the war with France. It originally imposed tax duties on a range of legal documents, such as cheques, property and…
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Are Trusts Safe?

Often, we hear our clients asking: Are Trusts safe? How can I ensure that the assets within the Trust remain under my control? When you settle some of your valuable assets into a Trust, you are actually handing over the legal title, or ownership, to the trustees. These days trusts are set up and administered…
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Benefits of Trust

Benefits Of Setting Up A Trust

Many expats shrug off the idea of using Trusts because they feel they are complex or just for the benefit of the very wealthy. Most people are actually oblivious to the real reason why trusts are widely used by wise expats to structure and efficiently hold their valuable assets. Here, we will look closely at…
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What Is The Best Thing To Do When You Inherit Money?

At first sight news about inheritance and a large amount of cash or, in fact, other assets, such as property or stocks, will bring sadness at the passing of a loved one, are often followed by joy for the beneficiary. If those assets are not appropriately managed, they will quickly diminish and become a burden…
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Stamp Duty Land Tax exemptions and reliefs explained

Last time we looked at the stamp duty land tax (SDLT) situation from an overall perspective. Every property sold in the UK for more than £40,000 is assessed for SDLT and the amounts due are to be reported and paid to HMRC within 14 days of completion. We looked at some examples of sales at…
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2021-2022 Stamp Duty Land Tax Rates in the UK

When you purchase a property in the UK a tax or duty is payable to HMRC. Known officially as stamp duty land tax (SDLT), this is a tax that was significantly changed from its predecessor, Stamp Duty. The UK government renamed and relaunched the tax in December 2003 and displayed the new rules and rates…
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