Retirement hotspots recommended by newspaper

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RETIREMENT HOTSPOTS RECOMMENDED BY NEWSPAPER

Monday, 21 Jan 2008

A number of European countries have been recommended as potential destinations for retirees who are looking to live abroad.

Retirement hotspots recommended by newspaper

The Times highlighted Cyprus as one good option for older Britons to consider, as it offered attractions such as good weather and relatively cheap property prices.

However, retirees were also told that they would be able to enjoy favourable rates of tax on their pensions if they set up home on the island.

Furthermore, the newspaper said Cyprus did not have an inheritance tax (IHT) in place, which could possibly be a very attractive benefit to British retirees.

The issue of charging a person for their assets upon their death has recently become a major political issue in the UK, resulting in the government recently announcing a significant increase in the IHT threshold.

Another country that has recently seen an increase in the limit at which people are liable to pay IHT- France - was also recommended.

The newspaper stated that people in certain tax brackets may be better off there than they would be in the UK, as there were lower rates on lower incomes.

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