Tag Archives: Abroad

Bride And Gloom For Wedding Guests: Cost of Being a Guest Mounts

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Getting hitched abroad spells financial trouble for wedding guests 

wedding guests cost of attending a wedding

  • One in ten (10%) people will be attending a wedding abroad in the next 12 months
  • Average cost of attending a wedding abroad is more than double the cost of being a guest at a wedding in the UK  (£564 v £247)
  • More than one in six couples planning to get married abroad (15%) are opting to do so as it works out cheaper for them than getting hitched in the UK
  • One in 10 (10%) Brits believe the bride and groom should subsidise their flights and accommodation if they want them to attend their wedding abroad

 

Are couples sacrificing their guest’s bank balance for their own happiness? With wedding season now upon us, it’s easy to see how the cost of a wedding can mount up – and not just for the bride and groom!

 

New research from Confused.com reveals that the average cost of attending a wedding abroad is more than twice as much as being a guest in the UK (£564 v £247). And with a quarter of UK couples (25%) planning to travel to distant shores in the next 18 months just to put a ring on it, their guests may be left facing a difficult situation.

 

The research from the leading price comparison site reveals that one in ten people (10%) are planning on attending a wedding abroad within the next year, despite the hefty price tag.  However, many wedding guests are showing a lot of negative sentiment when thinking about celebrating the happy couple’s big day in a foreign land. One in seven (14%) Brits would not travel abroad to attend a wedding regardless of who it was for, with over half (59%) preferring to attend a wedding in the UK.

 

Unsurprisingly, over a third (39%) of people think it’s a big request to ask people to travel abroad for a wedding. Nearly one in seven (13%) people admit that they don’t want to waste their limited holiday allowance paying a lot of money to only see the bride and groom for a few hours.

 

For those Brits who are willing to travel overseas for a wedding, restraint is being shown when buying wedding gifts. In fact,nearly one in 10 (9%) people don’t feel they need to buy the bride and groom a present at all if they are paying for flights and accommodation just to attend their nuptials.

 

To balance things out, some Brits (10%) feel that the bride and groom should subsidise their flights and accommodation if they want them there to share their big day. And for some lucky guests, this is in fact the case, as some happy couples are subsidising their guests to come to their wedding abroad. More than one in ten (12%) couples planning to get married abroad say they are doing this for their guests.

 

For those couples planning a wedding abroad, there are a variety of different factors influencing their decision – fromoverbearing parents and warring relatives to spiraling budgets, opting for a ceremony overseas can seem like the easier option for many.

 

A sixth of couples getting married abroad (15%) are choosing to do so as it works out cheaper than getting hitched in the UK. Nearly one in 10 (7%) also felt they were getting better value for money by travelling abroad for their nuptials rather than staying in the UK.

 

A quarter (25%) of couples planning to get married abroad admit they are doing so as it means they don’t have to invite every family member to the wedding, with more than one in six (15%) believing it would cause less arguments for them to go abroad to get hitched. In fact, one in 14 couples planning to get married abroad (7%) are doing so because they feel it would be less stressful than getting hitched in the UK.

 

Weather is also a key factor tempting British couples away from a traditional UK-based wedding. Over a third (34%) of couples getting married abroad chose to do so as they wanted guaranteed good weather and sunshine on their big day.

 

The five most popular destinations that people want to get hitched in include:

 

  • Caribbean (19%)
  • Australia (12%)
  • America (10%)
  • Canada (8%)
  • Cyprus (8%)

 

 

 

 

Everything You Need to Know About Retiring Abroad

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So, you’re thinking of leaving the UK to retire? A new life at a new pace. Sounds great.  But consider all the issues. The friends and family you’ll leave behind. The fact that no climate is ideal, no place perfect. The upheaval involved. The home comforts you’ll miss.

Still set on it? Well, this quick guide will help make sure you’ve got everything covered.

tropical Island

Choosing a place to live

If you’ve set your heart on a place to settle down, go and visit several times, at different times of the year. Get a feel for the place. And make sure you view the properties in person, not just over the internet.

Buying property overseas

Foreign exchanges companies, such as World First, can help you make the most of your money if you’re buying property abroad to retire, or want an overseas investment property.

They transfer money from your home bank account to your overseas account, and if you’re selling, they can send money in the other direction. It’s worth considering forward contracts where you can fix a rate for a point in the future or explore currency options that enable you to benefits from rate changes in your favour.

Your pension

If you qualify for a UK state pension, you can claim it wherever you live. The money can be paid into a UK bank or directly into an overseas account in the local currency.  Private pensions can be transferred from a home account to a foreign bank, and by using a broker you’ll tend to get a better rate, and save on fees.

Paying tax

If you move abroad for good, your income tax liability moves with you. But you may still have UK tax to pay on investment or rental income in the UK. Pension income is normally taxed in your country of residence. They are not taxed twice, but may push your other income into a higher overseas tax band.   Income from savings is generally taxable in your country of residence. Once you’re resident overseas, you’ll need to check whether you’re liable for capital gains tax.

Healthcare

This is an important consideration. You may get NHS-style free healthcare depending on where you retire, but in the United States, for example, medical insurance is essential. South Africa is another place where you’ll take to take out cover. Healthcare payments may also be required in France, Spain and Italy.

For more information about retiring in a new country, visit Retirement UK