The UK election was held on 7 May 2015 and the Conservative Party won by a narrow vote. But what does this mean for British expats?
A welcome policy of the conservatives is the introduction of a transferable ‘family home allowance’ worth GBP175,000 on top of the existing GBP325,000 inheritance tax threshold which will enable a number of family’s to pass on their homes without the concern of crippling inheritance tax. Whilst this will greatly benefit families residing in the UK, expats may find issues with what constitutes a ‘family home’ if they have not been residing there for some time.
One of the biggest questions prior to the election which was effecting Britons working abroad was whether or not the UK will remain a part of the European Union, since the election Prime Minister David Cameron has promised to stage a referendum by the end of 2017 to decide on this very important issue which has been coined as the ‘Brexit’.
Currently expats who have been living abroad for more than fifteen years are not able to vote in general elections. The conservatives moved to change this prior to the general election, but ran out of time. Therefore it could be concluded that this will be amended before the election in five years’ time.
It is reported that most Britons living abroad are more likely to support and vote Conservative and therefore it will be interesting to see if during this term they can manage to keep the expat confidence.
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