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Done & Dusted

These disappointing figures fuelled speculation that interest rates will not rise until 2016 at the earliest having been frozen at 0.5 per cent since March 2009.

The expectation that rates will stay lower for longer has been encouraged by the low-inflation environment. The UK March consumer prices index rate of inflation stayed at the 0 per cent recorded in February – despite forecasts falling petrol prices and the supermarket price war would turn the rate negative.

The impact of very low interest rates continues to reverberate around the financial system. For example bond markets are showing signs of increasing volatility and can no longer be relied to be either a safe haven or a predictor of economic activity. Companies are buying back shares using cheap loans rather than investing for the future, whilst certain badly run hedge funds are taking excessive risks with borrowed money and leaving their investors with the downside when things go wrong.

With little hope for savers that their money will earn them a good rate of interest sitting in a Bank, or invested in government bonds, be it in the UK or Europe , now is the time to speak to the investment specialists at Blacktower. We are here to help you find the right solution to make your money work for YOU.

by Christina Brady, Regional Manager Costa Blanca

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.

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Blacktower Financial ManagementThroughout history, the month of August has usually been one where investors take a break and the financial markets lose some steam. However, 2020 is far from being an “usual” period in time, and the month of August recorded one of the most aggressive upward trends in some of the global stock markets indices.

Looking back to July, the S&P500 and the NASDAQ continued to shine when compared to its peers, registering some substantial gains in the month. Following this, August continued on this same path and we saw the S&P500 record a 7% gain in the month, while the NASDAQ soared 11%, in this period of usual calmness in the markets.

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Tax and Benefits Across Borders – Don’t Get Caught Out

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This goes some way to explain why thousands of British expats have recently been caught and penalised for either failing to pay taxes or unlawfully claiming British pension and other social security benefits while living and, in some cases, working abroad.

Cross-border taxation for expats is a notoriously confusing area of wealth management and can seem especially onerous with new data sharing and enforcement rules in place. Unfortunately, not all asset managers are as familiar with tax reporting requirements as they should be. This may seem inconceivable, but wealth management professionals in Spain, across Europe and indeed the globe have an obligation to clients to ensure that they understand and follow all the rules.

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