Guernsey QROPS safe after moves to meet new tax rules

Guernsey is the first QROPS jurisdiction to upgrade pension laws in line with proposed new rules from the UK tax man. HM Revenue & Customs is imposing a tough tax regime on some QROPS providers who have abused tax rules – but other more reputable offshore centres like Guernsey have been caught in the crossfire. […]

US economy grows – but the figures are disappointing

The US economy grew at just 1.7% last year despite signs of revival in the last three months – the worst figures since the recession and half of that in the year before. More dollars were spent on cars and trucks while companies replenished their stocks at the fastest rate for the last two years, […]

Bad timing adds to financial losses for European funds

Bad timing by investors switching their money added to losses in a disastrous year for European funds. Missing opportunities by selling near the bottom or buying as prices were rising added to the financial woe of investors experiencing an awful year, says a research report from fund managers Morningstar. Key findings from the survey showed: […]

The Spanish are still in trouble

If you are dreading going back to work in the New Year, take heart from the fact that your to do list is not as impossible as the one on the desk of the Spanish Prime Minister, Mariano Rajoy. His predecessor had agreed a deficit target for 2012 of 4.4 per cent of GDP with […]

IMF blames euro for global growth downgrade

Lack of leadership and a failure to deal with debts in the eurozone is blamed for pulling down the world economy, says the International Monetary Fund. In an uninspiring global review, the IMF has downgraded growth figures as the eurozone is mired in recession. Emerging economies are doing their best to pull the rest in […]

Will Greece go bankrupt?

Despite the numbers not adding up for years, politicians, economists, and Europeans have hoped that Greece will not be the first country to default on its debt in six decades. However, this is becoming more and more likely as talks between members of the Greek government and its creditors keep stalling. A deal must be […]

Bookies shout the odds on the Eurozone debt crisis

With the world’s markets in disarray and politicians seemingly unable to make decisions about continuing problems besetting most of the major economies, it’s time to look at where the smart money is going. Some investors might suggest that despite the sophisticated research that backs fund managers shifting tother people’s millions around the markets, their best […]

QROPS Israel

Israel pension tax changes may have left residents picking up payments from a UK pension facing unforeseen tax charges. Anyone moving from the UK to Israel received pension payments gross from the UK and paid typical 10% income tax in Israel as the result of a generous double taxation treaty with the UK. This benefit […]

UK is in recession but doesn’t know it yet

The UK and Eurozone economies are already in recession, but just don’t know it yet, according to an analysis by global finance and consulting firm Ernst and Young. The firm claims the UK is in ‘technical recession’ and likely to stay mired in low or no growth until the end of summer. On the bright […]

Davos leaders to debate the end of capitalism

Worldwide protests against equality is the biggest risk to destabilising the global economy, according to economists and industry leaders. The celebrated World Economic Forum claims the gap between the world’s wealthy and those living in poverty and government finances teetering on the brink of collapse are the most important economics threats. The forum has published […]