Full exchange of financial information - 1 step closer.

I have written in previous blog posts about the fast approaching days when all financial information will be available to all tax authorities.......

RAI TV licence.

If you have have been keeping abreast of the latest news in Italy, then you will know that the RAI television licence, here in Italy, is about to be added to your electricity bill from 2016 onwards.  

The law of Esterovestizione

Now you are probably wondering with such an elaborate title for this blog, then what on earth the topic could be about? 

Bail IN or Bail oUT?

Italian's  hold about 200 billion euros of bonds in Italian banks and this has always been a good source of funding for banks given that Italians have traditionally been very loyal to their national banks.

Is IMU going to be culled on the Prima Casa?

If Renzi is a man of his word then as of 2016 there is the real possibility that IMU will no longer be charged on the Prima Casa for Italian residents.   However, holiday homes, and second homes will still have to pay the current rate of 0.76% of the catastale value, but those owning and living in their main residence may have a tax break as early as next year.  

This will, supposedly, be financed through efficiency savings made by streamlining the public services further. I will wait to be overwhelmed  by the efficiency savings !!

Reductions in income tax are being talked about from 2018. 

Tax breaks may be coming our way!  Watch this space. 

If you want to know if you might be able to save some tax in Italy then you can contact me for an initial consultation on gareth.horsfall@spectrum-ifa.com or on cell: +39 3336492356

A guide to declaring foreign owned assets in Italy.

This is my guide to what your commercialista does with all that information you give them each year, what problems it causes them and you, and finally what you can do to simplify your life as a foreigner living in Italy with assets held abroad. 

Should you take advice from The Spectrum IFA group?

When you power goes off you call an electrician. When the water goes you call a plumber. Yet oddly enough the most important professional advice you will ever need in your life is often ignored. FINANCIAL ADVICE.

The World's Strongest Banks - No 12 SEB

Bloomberg recently published a list of the Worlds Strongest Banks.  Given recent events surrounding the questionable behaviour of bankers in HSBC it is no surprise to not see them on the list. 

However, one in particular stands out, NO 12 on the list.  SEB.  

We at the Spectrum IFA group have been working alongside SEB Life International for the last few years and recommending their tax efficient Investment Bonds to our clients looking to move to or living in Italy.   It is good to see that we are partnering with the right kind of institutions!

Correction or Bear?

You may have heard a lot in recent weeks about China's stock market falling.  First it went into a correction and now it is in official bear territory. 

But what exactly defines a correction or a bear market? 

The Spectrum IFA Group - the company profile

If you are interested to see the latest International Adviser interview with The Spectrum IFA group founder Michael Lodhi, understand how we work and what values we stand for then please take a look at the following link: 

http://www.international-adviser.com/news/1023576/spectrum-intermediary-profile-spectrum-ifa

If you are an adviser who would like to consider joining us or a potential client who would like to work with us then you can contact me on gareth.horsfall@spectrum-ifa.com or call me on +39 3336492356

In defence of the Italian tax system........

Now, this might sound like an odd posting based on the multiple changes in Italian tax law over the past few years and the introduction of various new taxes on assets abroad.   However, I feel it is time for a soap box moment. 

Reflecting on Gains

I was recently struck by the 'musings' of a fund manager based in London and his take on the world of global economics. (see below) 

Does my foreign will cover my Italian property on my death?

On May 19th 2015 I held a joint event nr Lucca, with a firm of Anglo/Italian lawyers called Studio Legale Internazionale Gaglione.  They are a firm I met whilst in London presenting at The Place in the Sun event.  I was impressed by their knowledge but more importantly their long term view of the Italian legal profession and their moves to proactively model their business accordingly.

A Place in the Sun exhibition- London Olympia May 8-10th 2015 BOOK YOUR FREE TICKETS HERE!!

As you maybe already aware, I will be presenting at the Place in the Sun exhibition at London Olympia on May 8th-10th 2015 in the Italian Pavilion. 

As a speaker and exhibitor this year The Spectrum IFA Group can offer you exclusive free tickets which can save you money over and above the price on the door. 

If you or anyone you know would like free tickets then all you need do is click the following link and enter your details:  

FREE TICKETS FOR A PLACE IN THE SUN

This link offer unlimited free tickets to the exhibition so you can invite as many people as you wish. This will save you the entry price of £10 per person (2 for £15 in advance).  

TOUR DE FINANCE 2015 - 'THE CASE STUDY SESSIONS' - BOOK YOUR PLACE NOW!

CASTIGLIONE DEL LAGO (UMBRIA) 20TH APRIL 2015

SAN GINESIO (LE MARCHE) 21ST APRIL 2015

For those of you who know me well you will be aware that I am always a little preoccupied with our Tour de Finance events and that I am always keen to make sure the audience is not bored to tears with dull presentations. I don't always get it right  and have made some presentation mistakes in the past but improved on those in the 'Forum' events over the last 2 years.  

Now I am ready to take our Tour de Finance events to another level and start to show you how to use all the tax, residency and financial information that I have been writing about and presenting for some time. 

           With that in mind, I have decided to make this spring the Tour de Finance 2015

           CASE STUDY SESSIONS'.   

Since 2012 and the introduction of the raft of tax and financial changes in Italy, a new norm of financial planning has evolved.  In the 'CASE STUDY SESSIONS' I would like to show you how we can all fit into that new norm quite easily and make living in Italy that little bit easier.

As usual the events will be FREE open question and answer events.  We will also return with our preferred team of experts who will be on hand to answer questions. 

GARETH HORSFALL (THAT'S ME) , THE SPECTRUM IFA GROUP (ITALY) 

Presenting the Case Studies and the best way to plan around the Italian tax system. 

ROB WALKER, INVESTMENT DIRECTOR 

RATHBONES INVESTMENT MANAGEMENT UK. 

Rob will be talking about financial marketss.  Greece, the EU, USA and the markets to watch in the coming months and years and how they may all affect us in the near future. 

ANDREW LAWFORD, SEB LIFE INTERNATIONAL.  

Andrew will explain the tax benefits of the Life Assurance Investment Bond as a tax efficient vehicle in Italy, what are it's uses and what purpose it serves. 

JUDITH RUDDOCK, 

STUDIO DEL GAIZO PICCHIONI (COMMERCIALISTA)

She will be on hand to explain the finer workings of the Italian tax system. 

-----------------------------------------

If you are interested in attending these events then they are going to be held on the following days and in the following places: 

Castiglione del Lago (Umbria) – Monday 20th April 
Michele & Co – Pastisserie 

San Ginesio (Le Marche) – Tuesday 21st April 
Palazzo Morichelli D’Altemps 

The events will open for arrival at 10.30am and start at 11am promptly.  The session will end at approx 1pm.  A FREE buffet with wine and water will be served afterwards where you will have a chance to  speak with the experts directly and have a chance to meet your friends and acquaintances. 

DUE TO LARGE NUMBERS AT SOME PREVIOUS EVENTS NUMBERS WILL BE LIMITED TO A MAXIMUM OF 25 PEOPLE SO WE HAVE THE TIME TO ANSWER QUESTIONS SUFFICIENTLY DURING THE MORNING. 

SO PLEASE BOOK YOUR PLACE EARLY TO RESERVE A SEAT!!!

If you would like more information on how to get to the venues or to register for this FREE EVENT you can email me on GARETH.HORSFALL@SPECTRUM-IFA.COM leaving your full contact details or call me on 3336492356

All about residence........

What are the issues facing some of you?  One which raises its head periodically is the question of residency and tax residency in Italy. 

Before I go into this I would like to look back for a moment at some very recent Italian past and reflect on why we are where we are today. 

Italy signs landmark share of information agreement with Switzerland

The 23rd February 2015 will go down as a landmark moment for relations between Italy and Switzerland.  Typically a place for Italians to hide money from the tax man, a historic agreement between the 2 countires now means that Switzerland will share tax information with the Italian authorities on Italian resident individuals. 

The importance of 28000

The importance of 28000

You may wonder what is so significant about the number 28000 in Italy. Well, I will enlighten you in a moment.

The majority of expats I meet who decide to relocate to Italy are Northern European or from Anglo Saxon' countries, (certainly those of you reading this Blog) either searching for some hot weather or wishing to sample the Mediterrenean lifestyle. Whatever the motivations, it doesn't really matter, money matters are the purpose of this E-zine.

Controlling your Investment Impulses- take the quiz!

What better way to start 2015 than to start writing about trying to control impulses.  A brief look at behavioural finance.

If you are anything like me you probably over indulge a little too much on the sweets and other goodies during the Xmas period and try desperately to limit the amount you ingest in the New Year in the hope that a) you will feel a bit healthier and b)you will lose some weight.   You might also be injecting a new exercise routine into your life.