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Taxation of Income: PART 2 - Sole Traders (Category B)

Taxation of IncomeIncome is reported in different categories: A) Salaries, B) Sole Traders, E) Capital, F) Property, G) Capital Gains and H) Pensions and is taxable in Portugal regardless of its origin. For non-residents, only income actually arising in Portugal is subject to assessment.

Five things you may not realise about UK inheritance tax

Five things you may not realise about UK inheritance taxAs inheritance tax revenue continues to soar for the UK Treasury year-by-year, it seems more families are getting caught in the net. The UK government collected a record high of over £5.2 billion in 2017/18 – 8% more than the year before.

For expatriates, it can be especially difficult to know where you stand with UK inheritance tax. With rates at 40%, it pays to understand your position and what you can do to minimise exposure for your heirs.

Taxation of Income: PART 1 - Salaries (Category A)

IRSIncome is reported in different categories: A) Salaries, B) Sole Traders, E) Capital, F) Property, G) Capital Gains and H) Pensions and is taxable in Portugal regardless of its origin. For non-residents, only income actually arising in Portugal is subject to assessment.

Wage earners have little choice when it comes to submitting a tax return. Since tax on salaries is normally withheld at source, one of the main objectives in filing a tax declaration is to seek out ways to a refund. Before exploring deductions and tax credits, first it is essential to understand what constitutes taxable salary income besides what you receive in your monthly pay cheque.

Currency News - Jan 11th 2019

Currency updatePound could fall as Brexit vote looms - Staying on top of the latest currency news can help you time your transfers more effectively, so find out what you should be looking out for over the next couple of weeks… 

2018 International Tax Competitiveness Index - Portugal ranks 32nd

financasThe International Tax Competitiveness Index measures the extent to which a country’s tax system adheres to two important aspects of tax policy: competitiveness and neutrality.

A competitive tax code is one that keeps marginal tax rates low. In today’s globalized world, capital is highly mobile. Businesses can choose to invest in any number of countries throughout the world to find the highest rate of return.

Weekly Currency Update - Jan 4th 2019

MOneycorpYour weekly currency update from Moneycorp, the global specialists in currency exchange and international payments.

Planning for the future

Planning for the futureJanuary is a time when many people reflect on the previous 12 months and look ahead to what the coming year will bring. You may set goals for the year, such as exercising or planning a dream holiday. When it comes to financial planning, however, focusing on just one year is not nearly enough, you need to plan ahead for the future.

No festive respite for May

No festive respite for MayMrs May faces a tough few weeks at work as Brexit shows no signs of allowing her some well-deserved festive respite. Her cabinet colleagues lobbied her to delay Tuesday’s Commons vote, and the BBC reported this morning that the EU were unwilling to amend any part of the deal.