Weekender Alicante North Issue 117

Brexit Paralysis
and My Money
The UK sees a massive downturn
of business on the high streets,
especially with established
businesses like Mothercare and
Thomas Cook recently going into
administration. You may not know
that many other retail companies
have gone from the high street
or closed a large number of their
shops, such as; Woolworths, MFI,
Principles, Focus, C&A, Comet,
Tie Rack, Barratts Shoes, Stead
and Simpsons, to name but
a few. The Daily Mail reported
there have been over a 100 CEO
changes in the last year alone as
they grapple with the downturn in
the UK economy. The so called
“Brexit Paralysis”, with the UK
Government in meltdown, MPs
infighting, and a looming general
election has meant that UK house
prices and sales are generally
stagnant or falling. In addition
the UK construction industry and
economy are shrinking. Add to
this the UK Government paralysis
over Brexit, a possible change of
Government, along with exchange
rates all over the place and the
downward spiral of economic
confidence continues.
So is it Brexit or is it confidence
that causes us as individuals to
get caught in the headlights in
all of this? Well probably both. I
regularly hear “ I will wait to see
what Brexit brings before I do
anything”. i.e. move house, buy a
house, sell my house, exchange
money, make an investment, take
or make any decisions with my
pensions or investments, sort out
my Spanish Tax and legal position
etc. So where does this leave
you?
Well if we all look at the bigger
more positive picture instead of
dwelling on the headline grabbing
details like those above, we
can see that there are many
opportunities in business. Since
the Brexit referendum held on
23rd June 2016, the FTSE 100
index was at 6261 points and
today it stands at circa 7300
points. Therefore, if that is
anything to go by then investors
who bought shares in UK
businesses in the top 100 share
index since then, are doing quite
well despite the retail downturn.
So does this apparent confidence
crisis and apparent paralysis
extend to our own finances, and
if so what should be done to
take advantage of the current
opportunities? The one thing
that I would say after having
advised investors for over 27
years is this; there is no timing
the markets, it’s the time in the
markets that’s most important!
It is extremely important to take
professional financial advice,
especially from a Company that
has been providing financial
planning advice in Spain for
over 30 years, by helping clients
reduce tax and make their savings
work harder. So don’t wait until
something happens, make a
start now! I am a fully qualified
investment adviser and can
give you advice on getting your
finances in order. I can look at
ways of reducing your Spanish Tax
liability such as Capital Gains Tax
and Inheritance Tax as well as any
advice you need on Brexit and
Residencia. I understand what is
happening in the markets so can
prepare your finances for the post
Brexit revolution.
Call me now on 603 612 464
or email: Andrew.gibson@
blacktowerfm.com. Web site:
www.blacktowerfm.com
The above information was correct
at the time of preparation and
does not constitute investment
advice and you should seek advice
from a professional adviser before
embarking on any financial planning
activity.
www.blacktowerfm.com
Blacktower Financial Management Ltd is authorised and regulated in the UK by the Financial Conduct Authority and is registered with
both the DGS and CNMV. Blacktower Financial Management (Int) Ltd is licensed in Gibraltar by the Financial Services Commission
(FSC) and is registered with both the DGS and CNMV