Category Archives: News

UK Autumn Statement November 2023 – a summary for expats

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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.

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UK Spring Budget – March 2023. A summary for expats

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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

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UAE wills for Muslim expats – now available

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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.

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UK Autumn Statement November 2022 – a summary for expats

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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.

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UK Mini Budget September 2022 – a summary for expats

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When a new Prime Minister takes office, it is usual for them to want to put their own stamp on things and Liz Truss and her team are doing just that. Kwasi Kwarteng, the current Chancellor of the Exchequer, has made a few announcements today, a mini-budget if you will, or an oddly named ‘fiscal event’ according to the government.

As has been the case in recent years, many measures have already been announced or deliberately leaked so this was largely about clarification.

This article is a brief overview of some of the main points with particular reference to any changes 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 be most relevant to us.

EDIT. As this mini-budget went down so poorly, and did such dmanage to UK financial markets, Kwazi Kwateng was replaced by Jeremy Hunt and many of the announcements have since been rescinded so I have commented under each section to clarify.  Added comments are in italics.

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UK property investment with completion August 2022 – online presentation

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Join us on Wednesday 27th April at 1pm UAE time, for a presentation about a property investment opportunity that will complete soon. Tenant enquiries are already being taken so this is a good option for anyone who wants to complete a purchase in the next few months.

If you miss the date, let me know as the presentaton is being recorded.

I have written about options for UK property investment a few times and in most cases these are off-plan developments with completion some time ahead. I know a few clients would prefer quick completion so I would like to share details of an opportunity that fits that requirement

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UK Spring Statement, March 2022 – a summary for expats

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The Spring Statement is essentially a mini-Budget, allowing the Chancellor of the Exchequer to make announcements, some minor changes, and to provides updates on the economy.  It does not usually include major tax or spending changes.

This is not an easy time for the UK with an economic backdrop of rising energy, fuel and food costs.

This article is a brief overview of some of the main points with particular reference to any changes 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 be most relevant to us.

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Stock markets and investments – what not to do in volatile times

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On 24th February, we woke to the news that Russia had invaded Ukraine. The situation had been deteriorating for a while but now we have the terrible reality of military conflict.

The article is about financial matters, not politics, but they are closely aligned and I want to tell you why you shouldn’t panic about falls and fluctuations in stock markets – and what you must not do.

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UK Budget & Spending Review October 2021 – a summary for expats

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As has been the case for the past couple of years, many of the Budget measure have been leaked or drip-fed to the press so we were not expecting much in the way of surprises and there is nothing that dramatic.

This article is a brief overview of some of the main points with particular reference to any changes 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 be most relevant to us.

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UK Budget March 2021 – the facts for expats

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There is no question that this will not have been an easy Budget to put together. There are still uncertainties in respect of Covid19 and the UK economy has problems, for more than one reason. With so many people on a reduced income and many businesses suffering,  tax hikes right now would be even more unwelcome than usual.

At this point in time, the UK is in more debt than it has been at any point in the past 50 years, at some £2.13 trillion which equates to 99% of GDP. Over the past 12 months the UK economy has shrunk by 10%, and some 700,000 people have lost jobs. UK unemployment is expected to peak at 6.5% in the 2021/22 tax year.

What is required now is to stimulate growth in the economy but I don’t think there is any immediate fix. The two main issues are to reduce debt and to support people and businesses who have been hardest hit – somewhat opposing issues.

No one knows quite how many people on furlough will actually have jobs to go back to and latest figures indicate that there are currently 6 million people on furlough in the UK at the moment.

This article is a brief overview of some of the main points with particular reference to any changes that have relevance to those living outside of the UK. The UK press will cover many points in detail but much of this is not directly relevant to expats so this article focuses on the main issues, highlighting any of relevance to expats.

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