The past month was marked by significant volatility in the pound in response to a flurry of UK political developments. This saw the GBP/EUR trade between 1.09 and 1.13 with EUR/GBP retreating to 0.88.
Meanwhile, GBP/USD climbed from 1.21 to 1.25 having struck a three-year low of 1.19 along the way, whilst EUR/USD held steady at 1.10.
Portugal, Italy, Ireland, Greece and Spain, dubbed by the media as 'PIIGS', were deemed to be the culprits responsible for the eurozone crisis, due to their overspending. But is the picture obscured?
UK Political Drama Inspires Sterling Volatility
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…
When was the last time you gave your finances a health check? If it was a while ago or you cannot remember, you will almost certainly benefit from reviewing your situation.
Not only do your circumstances and goals generally evolve over time, but the rules and available options can change too. If you don’t keep up, you could find you are paying more taxes than you need to or missing out on new opportunities that offer significant advantages.
Euro under pressure, but GBP still falls from multi-week highs
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…
Over one hundred countries are now automatically sharing financial information on taxpayers to expose tax evasion – and tax authorities are starting to benefit.
Tax transparency has recently been revolutionised by the global automatic exchange of information under the ‘Common Reporting Standard’ (CRS). Now in full flow, this initiative enables tax offices across the world to keep track of taxpayers’ offshore assets and accounts. Meanwhile, many countries, including the UK, have introduced additional measures to check taxpayers are making correct declarations.
If you have moved to Portugal, you should have taken steps to ensure that your finances and tax affairs are all set up for your life here. But have you done the same with your estate planning?
While Portugal is relatively straightforward when it comes to inheritance taxes – only charging 10% ‘stamp duty’ on Portuguese property passed between non-direct family members – succession laws work very differently to the UK. If you are not prepared for this, your legacy might not be distributed as you intended.
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…
