Thursday, 21 September 2017
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The UK’s Autumn “Budget”- does it affect you?A few announcements in the UK Autumn Statement may affect expatriates, depending on your circumstances.
Where necessary you should seek professional advice to establish how the changes impact you and if you need to take action.

7 key ‘Habits’ for a financially secure retirement in PortugalMany British people on holiday in the Algarve fall in love with the local lifestyle and start making plans to move here.  Or perhaps you are at the final stages of your move, or have recently arrived in your new country.  There are many important financial considerations to plan for, and the sooner the better.  

The Tale of 2 leaversResidence is a curious beast.  For nearly all countries, it determines what income and gains are taxable, and where, with many countries taxing residents on their worldwide income, and often gains.  Some countries have a relatively simple system, whereby if you spend six months there during the tax year, you are resident.  Others have systems which include day counting over several years, the application of several tests, or simply considering where your main home is located.

Tax Exchange agreementThe UK Crown Dependencies have signed their new agreements with the UK to automatically exchange tax information.  Portugal and Spain have agreed to strengthen automatic exchange of information on tax matters.  

These types of agreements are becoming more and more common, with countries globally starting to automatically share information bilaterally and unilaterally.  This kind of information sharing leaves little room for tax evasion or concealed offshore funds going forward.

Are You Sure You Are Managing Risk?One common request I get from investors and retirees discussing their financial planning is that they want to take as little risk as possible.   They understandably want to protect the value of the capital they have built up over the years.

In many cases they are only thinking about investment risk, and generally just worry about how risky or volatile particular assets are.

Swiss Bank dataA new landmark tax agreement between Switzerland and the UK has been generating much activity this year.  UK taxpayers had to choose between disclosure and steep withholding taxes, and the UK authorities are now following this up.

The UK/Swiss Agreement on Tax Cooperation came into force on 1st January 2013, to persuade UK taxpayers to regularise their Swiss assets.  One way or another all Swiss account holders will now pay tax to HM Treasury.


In a recent article here in the algarvedailynews, 'Real Economy vs Faked Finances' I wrote about the mess Econometrics is in. For instance, monetarism says that financing brings wellbeing, but it ignores the fact that welfare is not only measured in material wealth. Some expenditures in public accounting are bad, like avoidable hospital expenses in dealing with obesity. Instead of using GNP, which also has some avoidable expenses, the UNDP for decades has been using GINI, where wellbeing is added to the pure financial accounting.

Tax planningThe Portuguese government is stepping up its fight against tax evasion again, doubling the number of tax inspectors and investing in new technology.  It is important to ensure that all your tax planning is fully legitimate.  

The proposed state budget for 2014 does not include any increases to the income tax rates or fixed rates applied to investment income.  However the government is looking to increase tax revenue anyway through its crackdown on tax fraud and evasion.