Wednesday, 26 April 2017
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Weekly Financial Update

Event risk will move the exchange rate...
There are quite a few pieces of news this week that could add to exchange rate volatility and determine the short-term direction of the rates. We have had the first stage of the French elections, and await social and economic reaction. Ahead, we have first quarter US GDP figures and President Trump’s outline for tax plans. Looking at that lot, it could well be the Euro and the US Dollar that will be the main movers.

Portugal - Tax Regime 2017It was greatly anticipated and there was much speculation that the Portuguese Socialist Government would introduce an Inheritance Tax. Although this did not materialise, we still believe that this could be introduced in the future. What they did introduce was a Wealth Tax which we believe will be extended in coming years.

PremFXThe acquisition adds breadth to Premier FX’s customer base and provides expansion into new industry sector.

Premier FX, the boutique currency exchange company headquartered in London, England, with offices in the Algarve, Portugal and Palma de Mallorca, Spain, are pleased to announce the recent acquisition of UK-based Global Currency Service Limited. GCSL is a 13-year-old specialist foreign exchange company for private and corporate clients, with a solid reputation serving the media and entertainment sectors.

A New UK Tax Year - Important ChangesA new tax year in the UK has started and we thought that it would be prudent to outline some of the major changes introduced to the tax regime for this tax year which you should be aware of.

Blevins fRANKSIs your tax and wealth management in shape for 2017? Have you reviewed your financial planning for 2017 yet? To protect your financial security and achieve your wishes for your heirs, you should have an up-to-date strategic plan in place. This should cover your savings and investments, tax planning, pension funds and estate planning. read more... 

Seminar "Taking control in an uncertain world" - Apr 21 to 28There is a lot going on at the moment that we cannot control, like Brexit, the US Presidency and currency exchange rates. But when it comes to our financial planning there are key steps we can take to protect our wealth.

villaIf you own property in Portugal, or are thinking about buying a home here, you could be affected by new tax rules for 2017.

This year has seen the introduction of a ‘wealth tax’ in the form of an additional tax on higher-value properties. The government has also revised how it determines whether residents should be penalised for using ‘tax havens’.

UK Budget and the NIC U-Turn - and the important change to Overseas PensionsThe Spring Budget caused controversy and an unexpected U-turn by the UK government, all due to the National Insurance Contributions (NIC) increase for the self-employed.

Under the Budget proposals, Class 4 NIC would have increased from 9% to 10% in April 2018, and from 10% to 11% in April 2019. The changes were intended to redress the imbalance between employees and the self-employed. However, the change was heavily criticised for breaking the Conservative Party's 2015 manifesto pledge not to increase NIC.