The 5 Things British Expats Forget to Bring With Them to Singapore Financially

By John Whittaker

By the time you land at Changi Airport, tax is probably the last thing on your mind. Fair enough. There’s a home to find, a new job to settle into, and a city to figure out.

But while you’re busy getting used to the heat and the hawker centres, a few money matters back home keep quietly ticking along whether you think about them or not. Left alone too long, they can turn into something far more costly than they ever needed to be.

Here are five things British expats in Singapore often forget, and why they’re worth ten minutes of your time now rather than a headache later.

1. Whether the UK still sees you as a taxpayer

Moving abroad doesn’t automatically end your relationship with UK tax.

You may still need to tell HMRC that you’ve left the UK, usually through the appropriate tax return or form, depending on your circumstances.

And if you still have savings in a UK bank account, don’t assume moving to Singapore automatically means the interest is no longer relevant to UK tax. The UK-Singapore tax treaty and your individual circumstances can affect how that income is treated.

The good news is that Singapore generally taxes income earned here, while foreign-sourced income received by individuals is generally not taxable, subject to certain exceptions.

Getting the UK and Singapore sides right from the start can save you a lot of backtracking later. If you’re unsure how your move affects your tax position, it’s worth speaking with a qualified tax adviser.

2. Your ISA stops doing what you think it does

Your ISA doesn’t simply come with you when you move to Singapore.

Once you become a non-UK resident, you generally cannot make further contributions to your ISA. However, you can continue to hold your existing investments and retain the UK tax advantages associated with the ISA.

For individuals who are Singapore tax residents, foreign-sourced investment income is generally not taxable in Singapore, while capital gains are generally not subject to tax.

This means moving to Singapore does not necessarily mean you need to close your ISA or move your investments. However, it is worth reviewing what you hold, how those investments fit into your wider financial plan, and whether maintaining the ISA remains appropriate for your circumstances.

The key is to understand your options and make an informed decision before or around the time you move, rather than leaving it until afterwards.

3. A real decision about your pension, not just the default one

You’re allowed to leave a UK pension exactly where it is, and often that’s genuinely the sensible thing to do. The trick is making sure it’s a decision, not just something that happened because nobody got round to checking.

Some pensions give you flexibility over how it’s invested and when you take money out, though currency swings can quietly affect what you end up with. Others pay a fixed amount for life, steadier but less adaptable if you’re planning to stay abroad long-term. Moving a pension overseas is still possible, but the rules have tightened, so it’s worth a proper look rather than assuming it’s the obvious move.

Here’s the nice bit: Singapore generally doesn’t tax pension income from abroad.  

4. Your will hasn’t caught up with a big rule change

Wills tend to sit in a drawer, quietly out of date, because nobody enjoys thinking about their own mortality on a Tuesday. Worth dusting off, though, because UK Inheritance Tax rules have undergone some significant changes.

The short version: if you’ve been a UK tax resident for 10 or more of the last 20 tax years, leaving the UK doesn’t necessarily take your worldwide estate outside UK Inheritance Tax.

Under the rules introduced in 2025, long-term UK residents can remain within the UK Inheritance Tax rules after leaving, with the period lasting between three and ten years, depending on their UK residence history.

That means your home might be in Singapore, your investments could be elsewhere, and you could still have a UK Inheritance Tax exposure on your worldwide estate.

Singapore, on the other hand, does not currently impose an inheritance tax, so that side is relatively straightforward.

It’s the UK side that’s worth revisiting, especially if your will predates these changes. A financial planner who understands the rules in both countries can help you assess your position and plan accordingly.

5. Insurance built for your old life, not your new one

Your phone contract and streaming subscriptions follow you everywhere. Health cover doesn’t work quite the same way. Singapore doesn’t have free healthcare for everyone in the way the UK does, although there are government subsidies and schemes such as MediShield Life for citizens and permanent residents.

For expats, it’s important to sort out your healthcare cover before you need it, not during an emergency.

Existing UK life insurance can sometimes stay valid after a move, but it’s important to check exactly where it covers you. Singapore’s insurance market is well developed, so finding insurance generally isn’t the problem. Fit is. It is better to find a policy that suits your actual situation than take the first one offered.

The bigger picture

None of these five things is likely to derail your move on its own. But together, they can have a lasting impact on your finances, and the longer they’re left unchecked, the harder they can be to put right.

Whether you’re planning your move or you’ve already been in Singapore for a while, it’s worth taking a step back and checking that your financial arrangements still make sense across both countries. Asking the right questions early can save you a lot of time, money and unnecessary complications later.

If you would like to make the most of your financial opportunities between the UK and Singapore, you’re welcome to book a complimentary session. Together, we can explore strategies to help you make informed decisions and build a strong financial foundation for the years ahead.

John Whittaker is an Authorised Representative of Global Financial Consultants Pte Ltd – No: WJE300421316 | MAS License No: FA100035-3

To learn more about how he might be able to help you, please contact John:

Phone Number: +65 8331 7103
Email: john.whittaker@gfcadvice.com

LinkedIn: linkedin.com/in/john-whittaker-8bbab6138

General Information Only: The information on this site is of a general nature only. It does not take into account your individual financial situation, objectives or needs. You should consider your own financial position and requirements before making a decision.

*Please note that John Whittaker is not a tax agent or accountant and none of the content outlined here should be taken as personal advice. You should consult your tax agent and financial adviser to review your current personal finances and financial goals to consider whether this strategy is appropriate for you.