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Blacktower Moving To Establish A Full DIFC Presence

We’re excited to announce our intention to establish a full presence in the Dubai International Financial Centre (DIFC). We are currently in the final stages of obtaining regulatory approval, and our team of financial advisors is eagerly looking forward to embarking on a new chapter in Dubai with this significant addition to our Group.

As the company chairman, John Westwood is personally thrilled about this move. “As part of our Group’s continuous growth plans, we have been closely monitoring this market for some time. We believe there is a real opportunity and immense potential for our group in Dubai.”

Our goal is to establish a strong presence in Dubai as quickly as possible, and we are diligently working towards obtaining the highest levels of regulatory approval. We are eager to kick-start operations and cater to the growing demand for our global expertise in this exciting new landscape.

Blacktower Financial Management Group currently operates across Europe, the United States, the United Kingdom, and the Caribbean. With the addition of our presence in Dubai, we are expanding our reach and strengthening our position as a global financial services provider. We are committed to providing our clients with exceptional service and expertise as we continue to grow and adapt to the ever-changing financial landscape worldwide.

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

More Taxing Times Ahead

From April 6th this year, individuals who do not spend sufficient time in the UK, or have insufficient ties with the UK to be resident there for tax purposes but who nonetheless own a home in the UK, may now need to pay capital gains tax (CGT) on any gains arising on the eventual sale of the property. 

How will the tax work?

Only gains made from 6th April 2015 are taxable in calculating the gain on the property disposal i.e. non-UK resident property owners will substitute the value of the property as at 6th April 2015 for its actual acquisition cost, thereby rebasing the value to its market value as at that date. Alternatively, property owners may elect to calculate the gain by using the actual acquisition cost but paying tax only on the time-apportioned post-5th April 2015 part of the gain.

If the non-resident usually files a UK self assessment tax return any gain must be included in the appropriate year’s return, otherwise any tax must be paid within 30 days of completion.  Non-residents will continue to be exempt from CGT on disposals of commercial property and other assets.

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