Expatriates moving to Portugal can potentially receive foreign income such as UK pensions completely tax-free for ten years under a special scheme.

You may consider moving to Portugal for a lifestyle change or to soak up some sunshine in your retirement years. But did you know you could also enjoy a decade of generous tax breaks? That’s because Portugal offers new residents special tax benefits under the non-habitual resident (NHR) regime.

From an international tax point of view, Pensions are a somewhat unusual form of income. Most types of income are first taxable at source. Then the country of residence (in this case, Portugal), grants a tax credit equal to the home jurisdiction assessment, thereby eliminating the double taxation. The process concludes with the application of Portuguese fiscal rules. In many cases, the final Portuguese assessment is similar to the tax credit, so the conclusion is usually neutral. 

Trade in the pound was fairly mixed on Monday, with Brexit uncertainty weighing heavily on the currency ahead of an EU summit later in the week.

Sterling appears to have stabilised this morning, with GBP/EUR flat at €1.1349, GBP/USD trading narrowly at $1.3273, and GBP/CAD stable at C$1.7650. While both GBP/AUD and GBP/NZD are holding steady at AU$1.7926 and NZ$1.9300 respectively.

The Pound rallied against the majority of its peers on Wednesday, with markets welcoming the passing of the UK’s Brexit bill through Parliament.

Sterling sentiment is more subdued this morning however, with GBP/EUR flat €1.1375, GBP/CAD stable at C$1.7504 and both GBP/AUD and GBP/NZD holding steady at AU$1.7855 and NZ$1.9213 respectively. Meanwhile GBP/USD is currently trending lower, striking $1.3146.

The Pound closed out last week on a fairly stable footing against the majority of its peers, with the currency looking to consolidate Thursday’s gains after some notable movement in currency markets.
Sterling appears to be falling back again this morning however, while GBP/EUR is holding steady at €1.1442, the majority of pairings are sliding, with GBP/USD tumbling to $1.3232, GBP/CAD dropping to C$1.7449 and GBP/AUD and GBP/NZD dipping to AU$1.7790 and NZ$1.9077 respectively.
Looking to today’s session, a number of speeches by various central bank policymakers, including the ECB’s Mario Draghi, are likely to be the driving force in currency markets.

Here at Premier FX, this is a question we get asked very often. And it’s not difficult to see why, when just a few percentage points movement can make a huge difference to the amount of money you will receive when making a transfer.

And the fundamental thing to understand is that currency exchange is a true market. That is, the relative values depend on supply and demand, and all currencies have a “price”. It’s exactly the same principle as your local food market. If there’s a strong demand for vegetables for instance, but bad weather has damaged crops thereby reducing supply, then the prices in the market will go up.

The pound plummeted on Monday as some lacklustre domestic economic data weighed heavily on the UK currency.
Sterling appears to be largely muted this morning, with GBP/EUR flat at €1.1346, GBP/USD virtually unchanged at $1.3375, while GBP/CAD and GBP/AUD hold steady at C$1.7374 and AU$1.7558 respectively. Only GBP/NZD is currently showing any real signs of movement as it tumbles to NZ$1.8994.

The pound fell back again yesterday, with renewed Brexit uncertainty forcing the currency to relinquish some of the gains it made on Tuesday.
Trade in Sterling is mixed this morning, with GBP/EUR muted at €1.1379 and GBP/NZD holding steady at NZ$1.9072, while GBP/USD advances to $1.3448 as well as GBP/AUD and GBP/CAD climbing to AU$1.7578 and C$1.7420 respectively.