A few clients have contacted me to ask about whether their protection plans, their life insurance policies, are still valid considering the current situation in the UAE, and wider GCC.
In this article I explain the situation and give you some facts. Reassuring facts.
For those of us in the Middle East our thoughts are understandably on issues closer to our current homes at this time but this still has relevance to UK nationals and those with assets in the UK.
Chancellor of the Exchequer, the RT Hon Rachel Reeves, has shared her update on the UK economy – the Spring Statement. This is not a Budget, but an update, a forecast statement.
It covers the latest estimates for growth, unemployment, inflation, government spending and income from taxation has been published by The Office for Budget Responsibility.
Think of if as a bit of report card and some qualified predictions.
Following every Budget or Statement, I write an article to give you a concise overview of some of the main points, with particular reference to any changes that have major relevance to those living outside of the UK, and especially in the GCC. Quick, easy to follow, and informative
The UK press will cover many points in detail but much of it will not be directly relevant to expats so i alsoway write someitnung for us, although this has little of direct relevane to non-residents.
A change in UAE law affects expats who hold bank accounts, property, or other assets in the UAE.
I have written about the many reasons why you need a Will in the past (see 15 reasons here) but this is something new.
If you pass away without a registered Will, your assets are now classified as “unassigned.”
Here we go again! This is a widely-anticipated Budget following weeks of media speculation.
I think we are all a bit fed up of the “leaks” and media briefings that are the hallmark of all Budgets in the past few years. It is also very unprofessional that The Office for Budget Responsibility (OBR) unexpectedly published its growth forecast ahead of the Chancellor’s statement. This contains market sensitive information so let’s hope there is an enquiry and action
The UK media frenzy and contact conjecture really helps no one. A little more decorum all round might be nice.
Following every Budget or Statement, I write an article to give you a concise overview of some of the main points, with particular reference to any changes that have major relevance to those living outside of the UK, and especially in the GCC.
The UK press will cover many points in detail but much of it will not be directly relevant to expats, to people who are no longer tax resident in the UK, so my summaries focus on the points that will be most relevant to us.
I am have an interesting investment opportunity that I am offering to select clients. This is not for everyone but if you want something a bit different, it could be for you…
Please contact me for details and I will send you a fact sheet with a good overview.
Get in touch! Click on this link to send me an email: keren@holbornassets.com or use this contact form.
This was not a Budget according to the Chancellor of the Exchequer, Rachel Reeves, but rather a forecast statement so we were not expecting much in the way of announcements.
It was information about the financial balance sheet of the UK.
Following every Budget or Statement, I write an article to give you a concise overview of some of the main points, with particular reference to any changes that have particular relevance to those living outside of the UK, and especially in the GCC.
The British press will cover many points in detail but much of it will not be directly relevant to those of us who do not live in the UK so this article focuses on the issues that will be of most interest to us.
Once again Jeremey Hunt, as Chancellor of the Exchequer, has delivered an Autumn Statement, this time with a claim that there would be 110 measures “to help grow the economy”. We will be the judge of that…
This article is a brief overview of some of the main points with particular reference to any cannouncements that have relevance to those living outside of the UK, and especially in the GCC.
The UK press will cover many points in detail but many of the points will not be directly relevant to expats so this article focuses on the points that will directly affect us.
Here we are again with another Budget and don’t they seem to come around fast?
Chancellor of the Exchequer, Jeremy Hunt has been in the role since October of last year and while he issued an Autumn Statement on 17th November 2022, he has had his feet under the big desk for a while now so should be in a better position to take economic steps for the benefit of the UK public.
This article is a brief overview of some of the main points with particular reference to any changes that have particular relevance to those living outside of the UK and especially in the GCC. The UK press will cover many points in detail but many of the points will not be directly relevant to expats so this article focuses on the points that could affect us.
The UK still has a cost of living crisis and the official inflation figure is 10%, a 40 year high. The price rises are being felt, as are the increased mortgage repayments. Salary increases are below inflation, energy prices are still high, and many people could do with some government support.
Interestingly, US inflation has fallen from its peak, from 9.1% to around 6% yesterday. Average European inflation is at 8.5%.
With a consensus that the UK could still enter into recession, the challenge is that expansionary spending could damage the steps being taken to try and keep a lid on further inflation.
As has become common in recent years, many of the announcements were trailed and leaked to the media as we there seem to be policy by feedback these days. We had been told that there would be support for working parents, an extension of the energy price cap, and an increase in the pension Lifetime Allowance.
Read on for a summary of the major points, and especially anything that affects expats
The times, they are a-changing, to quote Bob Dylan, and that is the case in the UAE as Muslim expats can now write UAE wills and distribute their assets exactly as they wish, in the same way as non-Muslims.
This is a huge change, and very welcome for many residents, especially those who have bought property in the UAE. Provided a will is set up correctly, and formally registered, assets will no longer be subject to distribution according to Sharia Law.
UK Budgets seem to come thick and fast these days with the last one in September, albeit that was referred to as a ‘fiscal event’. A small budget by any other name can lead to as many problems as a big one and that caused huge ructions in financial markets, leading to many of the announcements being rescinded, and another change of Prime Minister and cabinet, albeit still from the same political party.
As is usually the way, new Chancellors like to put their seal on the role so Jeremy Hunt delivered his Autumn Statement this afternoon. You may like to note that he is the seventh Chancellor in just seven years.
This article is a brief overview of some of the main points with particular reference to any changes that are pertinent to those living outside of the UK and especially in the GCC. The UK press will cover many points in detail but many of the points will not be directly relevant to expats so this article focuses on the points that will be most relevant to us.