Tag Archives: currency exchange

UK Spring Statement March 2025 – a summary for GCC residents

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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.

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Moving from the UAE to the UK? You need a financial exit plan.

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When you relocate from one country to another there is a great deal you need to think about. This includes the practical problems of shipping your possessions, finding a place to live, finding new schools for children, new employment and so on.

No doubt you will have lists of things to do but one area that is often overlooked is the financial side. It may not be exciting but you need to be aware of these issues to avoid any nasty surprise tax bills, especially in respect of UAE income or offshore investments.

Getting it right will save you money. Getting it wrong can be expensive.

I provide an exit planning service for people relocating to the UK and this professional service, with a personalised advice and a written report you can refer back to, can save you both money and headaches.

I also offer an advisory service for people moving to the UAE from the UK that covers steps you need to take regarding banks and HMRC, letting out a property, taxation, what to do about your investments and pensions, the local laws and rules, issues about inheritance and protecting assets when in the UAE, and a wide range of general information gained from 18 years of living here.

This updated article is about some of the topics that you need to consider when you leave the UAE to move to the UK:

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Currency transfers – how to get the best rates with full security

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Most expats have a need to move money between currencies and it makes sense to find a way to do this securely, easily and where you can save money.

You can do this easily, from your desk or sofa. Importantly, this is fully secure, properly regulated and in view of recent issues with some UAE companies, I only work with a currency broker with a good track record.

The online services offered by retail banks are rarely competitive and even if they do not charge a fee they make their profit on the poor rates of exchange offered.

There is a better way.  Everyone wants to make savings so this is how you can make easy savings and get value for your hard-earned money.

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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 Property Investment – 10 reasons why it makes sense

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UK property has a great deal of potential as an investment and it is easier to get into than you might think, with lower starting prices and plenty of benefits.

Read on to find out why UK property could be good for you.

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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 Summer Economic Statement July 2020 – the facts for expats

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The UK’s Chancellor of the Exchequer, Rishi Sunak, has presented his Summer Economic Statement, a de facto budget, and this article is an overview of the main points with particular reference to any announcements or changes that are relevant to those living out of the UK.

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Moving from the UAE to the UK? Do you have a proper financial exit plan?

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When you relocate from one country to another there is a great deal you need to think about. These include the practical problems of shipping your possessions, finding a place to live, finding new schools for children, new employment and so on.

No doubt you will have lists of things to do but one area that is often overlooked is the financial side. It may not be exciting but you need to be aware of these issues to avoid any nasty surprise tax bills, especially in respect of UAE income or offshore investments.

Getting it right will save you money. Getting it wrong can be expensive.

I provide an exit planning service for people relocating to the UK and this professional service, with a personalised advice and a written report you can refer back to, can save you both money and headaches.

This article was updated in April 2024 so please see the latest version:

Moving from the UAE to the UK? You need a financial exit plan.

 

If you are unsure as to whether a move to the UK is right for you, I work with a expert counsellor who supports expats in making life decisions. She has the personal experience to give you the guidance to make the right decisions for you and your family. Contact me for a no-obligation referral.

I am a highly-qualified and experienced Independent Financial Adviser with over 30 years of experience, the last 18 in the UAE and prior to that in the UK. I provide a fee-based personal financial planning service to expatriates resident in the GCC. I also comment on all kinds of financial isues in  The National  newspaper and have a regular column where I answer reader  questions. You’ll see my name in other UAE publications from time to time.  My business motto is proper advice for nice people.

Please take a look at the many other useful articles on this website.

 

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Need to know: UAE Consumer Protection Regulations

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 The UAE has had legislation in place to protect consumers for quite a few years but the details are not as well known as they might be so this article is an overview of the law and your rights when purchasing goods and services.

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How to save money on your currency transfers

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Most expats have a need to move money between currencies and it makes sense to find a way to do this securely, easily and where you can save money.

The online services offered by retail banks are rarely competitive and even if they do not charge a fee they make their profit on the poor rates of exchange offered – but there is a better way and you don’t even need to leave your home to get much better value for money. And all savings are good, right?

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