The Savings Tax Directive – Potentially Costly Changes

July 1st this year will introduce two significant changes to the EU Savings Tax Directive. While many expatriates will not be affected, for many others the changes could have a significant impact. It depends on whether you have offshore bank accounts and how they are set up. With less than two months to...

HMRC And The 10-Day Limit For Working In The UK

The UK rules for determining whether or not an individual is tax resident in the UK or not are notoriously complex and unclear. HM Revenue & Customs has argued that its own IR20 and HMRC6 booklets (HMRC6 replaced IR20 in 2010) only provide guidance and are not binding – though this is now subject to...

It’s all about the yield!

AS the Euro zone struggles with its mountain of debt, the old trick of devaluing your domestic currency is no longer a resource the 17 members can rely on as they all sit under the umbrella of one currency and one interest rate. In the UK however, the Bank of England has been able to slash interest rates to...

When Many Heads Are Better Than One

Getting some of the world’s best investment managers to look after your money There are various ways of buying stocks and shares. It is of course possible to buy and sell individual shares (equities), picking and choosing which company to buy shares in, how many to buy and at which point to sell. This...

Spanish Government Successful In Fighting Tax Evasion

I’ve written in previous articles about how the Spanish government, along with other European authorities, have stepped up their crackdown on tax evasion as part of their efforts to raise revenue to bring down their budget deficits. According to preliminary figures released by the Spanish government,...

Who would want to be Mervyn King?

ALL you budding economists out there who dream one day to head up the Bank of England (BoE) may be well advised to start looking for an alternative vocation. The current Governor, Mervyn King, is certainly getting put through the mill at the moment as he has to explain why the Bank of England’s inflation...

Tie Breaker Rules Could Decide UK Tax Residency

When I wrote articles last year about the high profile Robert Gaines-Cooper tax residency case and how HM Revenue & Customs (HMRC) can claim that British expatriates have been tax resident in the UK even when they have been living abroad for a number of years, I received queries from people who had been...

Four financial resolutions everyone should make

MONEY saving website moneymaxim.co.uk highlights four New Year Resolutions everyone looking to save money should make in 2011. Focusing on the biggest money savers for moneymaxim customers in 2010 these tried and tested methods can trim hundreds of euros from the average family budget. 1. Review Your Life...

Spain’s Latest Austerity Measures Are Now In Force

But Could We Be Facing More Tax Rises? The austerity budget for 2011 was passed by Spain’s parliament just before Christmas by the thin margin of 177 votes against 171. Although it is very unpopular it is necessary both to improve the public finances and to restore market confidence in the country. The...

Reasons To Be Cheerful

If the start of the festive season is not enough to put a smile on your face, perhaps these encouraging predictions for equity markets in 2011 will do the trick? The head of equities at Schroders reckons UK shares can rise 20-25% next year. The North America fund manager at Cavendish Asset Managers says US...