THE EU TAX CLAMPDOWN

On the 5th December 2017 the EU went one step further in its aim to clampdown on International tax evasion and aggressive tax avoidance.  

They submitted a paper naming and shaming a number of countries and territories which have, or are continuing to, operate opaque regimes for the purposes of sharing tax and financial information. 

Interestingly, Jersey, Guernsey and the Isle of Man, Bermuda and the Cayman Islands have been placed on a grey list.  This means that they have committed to reform their tax structures but have not yet, in the EU's opinion, gone far enough to ensure that they fully comply with EU requirements.  They are on a warning!

In my opinion this needs to be watched carefully in tandem with the Brexit negotiations.  If, as has been quoted by Philip Hammond, the UK would turn itself into a low tax jurisdiction in the event of a no Brexit agreement then it is highly likely that these territories could become a target for the EU and punitive tax rates return to assets held here as a result. 

Have a look at this Independent article: 

HERE

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BITCOIN

In the financial business we generally know when a crash, of some description, is on the horizon.  One of the biggest indicators is when regular people who would never dream about speculating their hard earned money on unregulated investment vehicles suddenly start asking how they can buy them.  

Bitcoin must be the classic case in point.  In the last 2 months I have been asked by a taxi driver, a care worker and a financial adviser (unbelievable but true) how to purchase bitcoin.  

My advice was very simple.  DON'T. 

No 1.  It is unregulated.  You could lose everything. 

No 2.  You missed the boat.  The price and volatility are now sky high.  

No 3.  What goes up must come down and the higher it rises the lower it will fall. 

No 4.  If you really must invest in BITCOIN then wait until the crash comes and buy it then.  

For now, just watch all the people piling into it and be their shoulder to cry on when the market turns. 

Don't buy BITCOIN unless you are an experienced investor and/or are prepared to lose everything you invest in it.  It will probably go higher yet over the course of this year but don't be tempted!