The United Kingdom's exit from the European Union (Brexit) in January 2021 was a significant event in the modern history of the UK and the EU.

The Pound has struggled to maintain any form of strength against the Euro and Dollar over the last month, with GBPEUR currently trading at 1.1450 and GBPUSD trading at 1.2130. After a dovish ECB meeting last week we saw the Euro weaken across the board, with recession expected for the Eurozone over the next few quarters- however the Pound was unable to capitalise on this weakness and the pair stayed lower after the decision.

No surprises yesterday when ECB (European Central Bank) decided to hold rates at 4.5%. President Christine Lagarde mentioned that there could be further actions in the future but that current market situation did not require monetary actions. In September we saw inflation levels drop drastically for a number of European nations.

Australia’s inflation yesterday has shown signs of a continued struggle to drop quick enough, with inflation mainly boosted by higher petrol prices, adding further fuel to the Interest Rate question for The Reserve Bank of Australia. So far, The RBA have left their rates unchanged at 4.1% for the past four months, but prior to the inflation release, markets were pricing in a one-in-three chance that rates would be raised to 4.35% in their next meeting on the 7th November.

The pound edged up against the euro, shaking off data that showed the UK labour market lost more steam in August and business activity deteriorated this month as an economic survey for the euro zone was even worse.

UK expats who have lived abroad for many years often remain UK-domiciled and therefore liable to UK Inheritance Tax (IHT). The rate of this tax might be considered penal.

A recent survey conducted by Portugalist.com among more than 300 prospective expats reveals that Portugal's announcement that it will end its Non-Habitual Residency (NHR) tax regime could have a significant impact on their decision to move to Portugal.

From the Cayman Islands to the United Arab Emirates, various nations are competing to entice international professionals and investors with appealing tax regimes. Portugal and Spain had been two of the most favorite Mediterranean regions for this reason. But now, the landscape is changing.