Just as it looked like STG/EUR was going to move higher again, a bullish ECB statement gave the Euro a boost. From a comfortable footing above 1.21 the Pound dropped back to the low 1.20's at the end of the week. The not so great employment figures in the US also helped the Euro and this currency pair finished above the the 1.38 level.
No change on interest rate last week….The Bank of England stayed 0.5%, an all time low for 5 years. And, Mario Draghi held his nerve based on more positive consumer data from France, Spain and Germany.
Let’s hope the geo-political situation in the Crimea does not rein back the slow charge to improving economic climates….even the Euro got a chance to come back at Sterling………..CLICK HERE.
The three main principles for investing for growth are: time in the market; spread the risk and regular reviews. Last week I discussed how time in the market is usually more beneficial for individual investors than timing the market.
Whatever your currency exchange needs let the experts at HiFX provide you with all the help and guidance you need to get the best rates possible when moving your money overseas. It’s easy to sign up, free and can be done 24 hours a day online.
The consultation document entitled “Ensuring fair taxation of residential property transactions” was published in May 2013. As always whenever the UK Treasury or HMRC refer to “fair taxation” what they really mean is “considerably increased taxation”. The resulting draft legislation was published on 11th December outlining the new taxes and charges which will have to be paid by offshore companies which own property in the UK.
An investor’s portfolio should be built around their specific objectives.
If you are investing for growth, then we normally recommend three main principles...
A recent tax residency court case involving a couple living in Portugal and my recent article on the subject, A Tale of Two Leavers, have generated quite a bit of interest. This is an important subject for British expatriates and worth visiting again.
If you want to stop paying income and capital gains taxes in the UK, you must ensure you are non-UK resident. It is not enough to look at Portugal’s tax residency rules, you also need to understand the rules governing UK tax residency, follow them carefully each year and keep records if necessary.
A stagnating European economy is the talk of the markets, but Mario D seem quietly confident “that things can only get better”. In fact, Spain is one of the European countries with improving economic data, unfortunately because it only makes up circa 7 percent of the total European GDP it rarely impacts the Eurozone number.
Whilst in the UK they are busy coping with a natural disaster, the South East and West are under water, which is slowing down the economy temporarily. Despite this, the Bank of England upgraded their growth forecast to 3.4percent in 2014, again ‘Cool’ Carney is continuing with the positivity and the markets approve, Sterling rose above 1.22 again last week.