No stopping STG/EUR from rising it seems! STG/USD is holding up well as the market buys it on the assumption that the UK economy is the one in the world that is performing and therefore can be looked upon as a safe haven.
In this week's issue, we cover:
- the EU v Greece "goes into extra time" on the deliberations over the extension to the bailout,
- Greenspan states that a Greece exit (Grexit) is inevitable,
- the political concerns in Spain are more of an issue than the Greek problems, and,
- UK inflation hits a record low.
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Many savers are finding it difficult to know what to do in these difficult times, inflation rates are high, bank interest rates are low, and government bonds no longer seem safe and the stock market is too volatile. So what should you do with your money? keep it under the mattress?
Keeping your money under the mattress is not the answer, if you don't want your money eroded by inflation. Every day you delay making a sound financial plan that is what is happening to your money.
This months news from Private Fund Management in Almancil includes...
1. Trusts in blacklisted tax havens will be taxed at 35% by the tax authorities in Portugal, and we also explain what a Trust is
2. Malta aligns itself with the UK - anyone with a QROP pension scheme in Malta will have the same access rights to their pension fund as someone in the UK from April this year
3. Many maybe disappointed that these "pension freedoms" coming into force in April could be thwarted in the UK
4. And, finally, we cover the Clydesdale Bank closure in Guernsey, as we have received many enquiries on this
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For those of us not savvy when it comes to serious money matters – which includes many more people than you might think – these are bewildering times.
Journalists, along with estate agents, used to be the most disreputable creatures on the planet. Bankers, economists and politicians now hold this distinction.
Do you want to become a millionaire? It IS possible… A majority of people are giving savings and investments a higher priority since the global economic recession. The million-dollar milestone is still a dream for most people when it comes to monetary savings.
Read up to date financial information, including details about the ECB and quantitive easing, UK election uncertainty, Greece worries resurfacing and an inflation update.
The Portuguese Government has changed the country´s tax law and with effect from 1st January of this year, the Portuguese tax authorities recognise Trusts in all tax jurisdictions. The consequence of this is that anyone who has a Trust will suffer tax liabilities in Portugal for the very first time.
The tax rate applicable is set at 28%. This will affect many individuals and families, including individuals that have successfully gained the Non-Habitual Residency scheme.