Exchange rate

Has the euro started to go in to freefall now.

On Saturday I was getting €1.354 to the £ but today its €1.3766 and mastercard exchange rate is €1.39445

The £ isnt getting stronger just the € is getting weaker. Great news for holiday makers this summer

Bad news if you're sellling a house and moving back to the UK- you might be able to afford a shed!

Bad news if you're working out your assets declaration- if you didn't have to submit before, you might find your assets are over 50 k because of the exchange rate

If you submitted before, you might have to do it again, as your assets might have gone up by 20 k

Bad news if an IHT bill has to be paid on assets in the UK - you'll pay much more, and even exceed the alliance threshold

cbram

The ECB started their so-called quantative easing which means putting more euros on the market hence the drop in the €.

camposol, always looking on the bright side of life as usual.

Good news if you get your pension or income from UK in pounds. Good news if you're thinking of buying in Spain. Good news if you're planning on staying in Spain especially with inflation running at minus figures for the last 2 months. Yes, the asset declaration had to be completed because my bonds are now over the 50K threshold. Good news is that I'm nearly 3,000 euro better off (same in pounds, though). Still have to pay tax on the interest here but as interest rates in UK have nosedived I'm paying a lot less (not good nor bad as I'm paying less tax but getting less interest).

Since the exchange rate used in December 2013 compared with December 2014 was an increase of 8 cents, you'd have to have a lot of money for your assets to rise 20,000 euro simply on the back of the exchange rate. If you've got that amount of money you probably wouldn't bother too much about the declaration.

IHT from UK? MIght as well talk about the 20% tax on lottery winnings.

Many people have assets , bank accounts, houses etc in UK, and with this exchange rate it means they will be of higher value when calculating the worldwide IHT if the deceased and survivor were resident in Spain.

I suppose every piece of silver has a cloudy lining. Or something like that.

More income tax to pay if your income is in Sterling.

The pound has just gone above the €1.40 mark for the first time since November 2007.How high will it go?

As far as I'm concerned, it can't go low enough.

When I go back to the UK I want to be able to afford more than a shed!

1.40 thats great news im off to Holland next week might be able to buy the wife some tulips, or maybe not.

Why does the BOE assassinate the GBP when it finds a new ceiling? We hit €1.42 =£1.00 last week which caused a UK panic with high export prices – so BOE chief Mark Carney mutters about “persistent external deflationary forces arising from the combination of continued foreign low inflation and the protracted effects of sterling's strength" and his side-kick Andrew Haldane really put the boot into sterling when he said the possibility of an interest rate cut is not out of the question. The euro now sits at 1.36 = £1.00 and GBP will continue to fall against a very sick € with the general election looming. God forbid Milliband ‘wins’ and forms an alliance with SNP!