Monthly Archives: December 2008

Premier League Round-up

Liverpool  finish the year on top of the Premier League table. and will head into 2009 looking down on the rest of the division after an emphatic 5-1 victory over sorry Newcastle United at St James’ Park.
Poor finishing and inspired goalkeeping from Shay Given kept the scores level until the 31st minute when Steven Gerrard crashed his shot in off the post following a neat move involving Javier Mascherano and Yossi Benayoun.
Just five minutes later Sami Hyypia, who had already gone close twice, rose above Fabricio Coloccini to head home a Gerrard corner. Newcastle gave themselves hope for the second half when David Edgar headed home a corner at the near post in injury-time.

However, the hosts’ gameplan was in disarray again five minutes after the interval when Ryan Babel poked home from close range after a string of defenders failed to clear a corner. Gerrard grabbed his second of the game on 66 minutes when he darted on to a superb through ball from Lucas before clipping a delicated shot over Given and the rout was complete on 77 minutes when Xabi Alonso tucked away a penalty after substitute David N’Gog had been tripped by Edgar.

Chelsea lost ground in the title race after being pegged back by West London rivals Fulham late on in a 2-2 draw at Craven Cottage. With  a minute to go, Chelsea were undone by a set-piece as Davies swung in a corner which the unmarked Dempsey guided inside the post to stretch the Cottagers’ unbeaten run to nine games.

Former Blackburn boss Hughes saw his current side City produce a stunning late fightback to claim a 2-2 draw at Ewood Park. City substitute Sturridge sparked a dramatic comeback as he volleyed home two minutes from the end after Andre Ooijer failed to clear Robinho’s ball into the box. In the fourth minute of stoppage-time, Sturridge played a magnificent pass into the feet of Robinho and he slotted beyond Paul Robinson.

A moment of misjudgement from David James cost Portsmouth  as Arsenal ground out a 1-0 win at Emirates Stadium. William Gallas met Denilson’s free-kick before James to nod into an empty net.

Stoke are set to finish the year in the relegation zone after going down 2-1 at a resurgent West Ham. The visitors enjoyed a dream start by taking the lead after just four minutes when the unmarked Abdoulaye Faye headed home a corner at the far post.

The Hammers equalised six minutes after half-time when Carlton Cole swivelled sharply to curl his shot into the far corner after Stoke’s Andy Griffin had failed to clear Scott Parker’s pass. Before Stoke were able to kick-off, Potters striker Fuller was sent off for slapping his team-mate Andy Griffin, who he saw as culpable for Cole’s leveller.

Fuller’s moment of madness proved even more costly when the Hammers snatched a winner two minutes from time as Cole’s shot took a decisive deflection off substitute Diego Tristan, who  also appeared to be in an offside position .

West Brom made it two home wins on the spin after leaving it late to see off 10-man Tottenham Hotspur 2-0 at the Hawthorns.

Wigan moved up to seventh in the table after Amr Zaki’s second penalty in the space of 48 hours secured a 1-0 win at Bolton.

Ricky Sbragia endured a miserable first game after being named Sunderland’s manager on a full-time basis after suffering a 3-0 defeat at Everton.

Spanish wealth tax to be axed?

Although yet to be ratified, the abolition of Wealth Tax approved last April by the Spanish parliament will come into force in 2009…

The liability for the tax has been eliminated by a 100% tax relief. The measure will apply for the Spanish tax year 2008 for which returns are due in 2009.

Spanish Wealth Tax is a tax on assets held as at 31st December each year. Residents are taxed on worldwide assets and receive various allowances/deductions.

Non-Residents are taxed on Spanish assets without allowances. The tax rate ranges from 0.2% to 2.5%.

There are still other taxes due on Spanish property. On buying a property in Spain one has to pay 6% Transfer Tax (ITP) (7% in Andalucia).

If the property is a ‘new build’ or a ‘re-sale’ of an unregistered property there will be 7% Spanish VAT (IVA) to pay (this varies amongst Spain’s protectorates).

Annual Local Property Tax will range from £100 to £400 depending on the size of the property. There may be additional taxes in some areas for rubbish collection and special projects.

If the property is let there will be a tax on the rental income. Only 50% of the net rental income of a Spanish resident is taxable at the normal scale, rates from 24% to 43%. Non-residents pay 24% on gross income.

On disposal of the property the vendor (seller) is liable for Capital Gains Tax at 18% for residents and non-residents plus a tax on the gain on the land, called Plus Valia, of 20%-30%.

Measures to boost the Spanish property market for overseas investors

As Spain’s housing sector continues to struggle in the downturn, the Spanish Government is pouring £9.5 billion into helping home-seekers buy or rent more than one million homes over the next four years…

This is the latest helping hand from a Government that is desperately trying to stave off a crisis. The Spanish property market has been one of the hardest hit by the downturn as it emerged from its ten year housing boom earlier this year.

Previous efforts by the Government to bail out the ailing housing sector include tax breaks, low-cost loans and public works spending.

It launched a plan in September totalling a whopping £39 billion to help the country’s banking system, something that could help raise liquidity in the property market.

Prime Minister Jose Luis Rodriguez Zapatero said this measure would be used to buy up high-quality assets and would work in conjunction with the provision of additional liquidity by the European Central Bank.

Such measures may help boost liquidity and in doing so increase mortgage availability in the country, something that could benefit those looking to the Spanish property market for their overseas investments.

The Prime Minister also announced that developers renting out their properties would get tax breaks and a share of a £2.38 billion credit line.

He said, “These are concrete moves to make the property sector more competitive at the same time as we encouraging the rental market and providing liquidity to companies with big stocks of property assets.”

Under the new plan the Spanish Government will strive to help the poorest families, the elderly, young people, the disabled and victims of domestic violence to find a home by giving subsidies to developers.

They are handing out the cash to developers in order to help the struggling construction industry, which has experienced one of its worst ever years.

Some developers have been unable to keep their heads above water and have been forced to file for administration - such as Martinsa Fadesa, which was at one point Spain’s biggest builder.

The new scheme aims to dedicate a third more housing provision than the previous draft and would increase the number of homes available by around 380,000.

Merry Christmas!

A Merry Christmas to all our readers!!

A Merry Christmas to all our readers!!

European weekend soccer review

Premier League

Liverpool missed the chance to extend their advantage at the top of the Premier League  as they drew against 10-man Arsenal at Emirates Stadium. The Reds never truly gained the upper hand or threatened Manuel Almunia’s goal.

Manchester United celebrating victory in the Club World Cup final in Japan

Manchester United celebrating victory in the Club World Cup final in Japan

Gunners boss Arsene Wenger and Adebayor were both left fuming over the red card, with referee Howard Webb not helped by Alvaro Arbeloa’s theatrical reaction to the challenge from the Togo international.

Liverpool have now drawn four of their last five matches and, although they remain strong contenders for the title, further dropped points in the second half of the season could see their wait for the top-flight crown extend into a 20th year.

Aston Villa continue  to try to upset the status quo in the Premier League and climbed into third place on Saturday with a late victory over West Ham at Upton Park.

West Ham will spend Christmas only one point above the relegation places with further upheaval predicted in the January transfer window.

Mark Hughes’ festive celebrations may also be somewhat muted with Manchester City after  a last-gasp defeat at the hands of bottom club West Brom. Roman Bednar’s late header ensured that while the Baggies will be bottom on 25th December, they are at least in touch with the teams above them. The Hawthorns outfit are also the only side in Premier League history to beat the drop having been bottom at this stage of the season.

Blackburn are the occupants of the third relegation place, but they too have cause for optimism after Sam Allardyce made an immediate impact on his return to football management by guiding his new club to a 3-0 victory over Stoke City bringing an end to Stoke’s four-game unbeaten run and leave Tony Pulis’ men just two points clear of the bottom three.

Newcastle have managed to put some distance between themselves and the drop zone, with substitute Damien Duff grabbing a last-minute winner against Tottenham at St James’ Park on Sunday. For all Spurs  improvement under Juande Ramos’ replacement the White Hart Lane side are only a point above the relegation trapdoor.

Sunderland claimed arguably the most impressive result of the weekend as they followed up their 4-0 home win over West Brom with a 4-1 triumph away to high-flying Hull City.

Fulham, unbeaten in the last six games move into the top half of the table and can also boast a defensive record which is only bettered by Chelsea and Manchester United. They triumphed 3-0 over Middlesbrough in a clash which saw some questionable decisions by the match officials.

Bolton climbed above Portsmouth and into ninth place in the table after a 2-1 victory at the Reebok Stadium.

Primera Liga

Barcelona extended their lead at the top to 10 points after they came from behind to win away at Villarreal with goals from Seydou Keita and Thierry Henry.

Juande Ramos secured his first league win as manager of Real Madrid at the second time of asking as a Gonzalo Higuain goal was enough to see off Valencia.

Second place Sevilla could only draw 0-0 away at Mallorca while Atletico Madrid recorded their fourth successive league win to move them up to third after a 3-2 victory at Espanyol.

Serie A

Leaders Inter Milan remain six points clear at the top after a Maicon double handed them a 2-1 win away at Siena, the winner coming in the 83rd minute.

Juventus sit second after they won away at Atalanta 3-1.

Roma’s 10-game unbeaten run in all competitions ended as they went down 3-2 away at Catania meaning they slip to 11th.

AC Milan sit third as they thumped hapless Udinese 5-1 at the San Siro with Brazilian pair Kaka and Alexandre Pato helping themselves to two goals apiece.

SPL

Rangers briefly cut Celtic’s lead at the top to just a point after Kris Boyd scored the only goal of the game at home to Hibernian on Saturday.

However the Hoops restored their four-point advantage 24 hours later when they beat Falkirk away 3-0.

Ligue 1

Leaders Lyon remain three points clear of Bordeaux in second after they defeated Caen 1-0 away with Karim Benzema getting the goal.

Laurent Blanc’s men remain hot on their heels after a thrilling contest at Monaco winning 4-3.

Marseille slip to fifth after they suffered a surprise 3-0 home defeat by mid-table AS Nancy.

Eredivisie

AZ Alkmaar temporarily stretched their lead at the top to six points after a 2-0 win over FC Utrecht.

Second-place Ajax emphatically reduced the gap back to three points when they hammered De Graafschap away 6-0.

PSV remain nine points off top spot in fourth place after a 1-0 home win over Feyenoord.

Steve McLaren’s FC Twente lie third five points off the leaders after they beat Willem II 2-0 at home.

Meanwhile in Japan, Manchester United pictured above were crowned  winners of the  Club World Cup beating Ecuador’s South Amercian champions Liga de Quito 1-0 in the final.

Injection of cash to “save” Spain?

Spain is to invest £17 billion in infrastructure improvements as part of a £30 billion fund allocated to revive the country’s economy, it has emerged…

The country’s Prime Minister Jose Luis Rodriguez Zapatero announced the investment - which will see £4.6 billion spent on environmental projects and £7 billion on local authorities - at a meeting of Socialist mayors.

He was quoted as saying that 2009 “would be an historic year in terms of launching public works programmes”.

Such investment could help to improve the country’s housing market, which may result in increased interest from overseas property investors.

Research by Globaledge recently found Spain to be the most popular choice for potential property investors living in English-speaking countries.

The country and its towns and regions beat second-placed France by a ratio of over two to one in the study, which analysed Google searches made during September 2008.

Webcam in Las Galletas

This webcam is owned by The Tenerife Property Guide (one of the largest sites to find properties to buy or rent, businesses to buy or rent, Long Term or Holiday Rentals, Off Plan opportunities and Plots of Land in Tenerife ) and is situated above The Pink Parrot Cafe on the esplanade in Las Galletas, a pretty little Canarian fishing village on the south coast of the island.

The Pink Parrot Cafe is owned by Martin and Lillian Proud who have allowed The TPG to route the webcam feed through their computer.

To see what the weather is like in Las Galletas at the moment, why don’t you take a look!

Football title races intensify across Europe

In the Premier League, Liverpool continue to lead the way after fighting back from 2-0 down to draw against newcomers Hull City. Manchester United toiled too managing a draw against Tottenham at White Hart Lane. Meanwhile Chelsea could only muster a point at home to West Ham. Arsenal drew 1-1 at Middlesborough, but Aston Villa won a great football game against Bolton by 4-2.

Wigan defeated Blackburn by 3-0 and West Brom’s woes continued with a 4-0 defeat at fellow strugglers Sunderland.

Manchester City showed that  money can’t always ensure success with a home defeat in the final minute to Everton by 1-0. Newcastle showed the signs of recovery with a 3-0 win at Portsmouth whilst Stoke and Fulham played out a 0-0 draw which will best be remembered for the panto season like dive when Paintsil placed his face into Fuller of Stoke and then threw himself to the ground. He is deserving of the best simulation at this years Football Oscars and was like the game- pathetic.

Eto scores in El Clasico

Eto'o scores in El Clasico

Primera Liga
Juande Ramos faced a baptism of fire as Real Madrid lost 2-0 to Barcelona at Camp Nou in his first league game in charge. Samuel Eto’o missed a penalty but made amends seven minutes from time with the opening goal and Lionel Messi then added a second.

Valencia are eight points adrift in second after beating Espanyol 2-1 in Saturday’s other game, with Villarreal losing 1-0 to Sevilla on Sunday and Atletico Madrid climbing above city rivals Real with a 2-0 victory over Real Betis.

Serie A
Zlatan Ibrahimovic scored a brace for Inter Milan as they beat Chievo 4-2 to stay six points clear of Juventus. Claudio Ranier’s men beat AC Milan by the same scoreline later on Sunday with Amauri netting twice and Gianluca Zambrotta sent off for the Rossoneri.

Napoli moved up to third after easily beating Lecce 3-0 on Saturday while Marco Di Vaio netted a hat-trick to inspire Bologna to a 5-2 win against fellow strugglers Torino.

SPL
Celtic were forced to come from behind to draw 1-1 against in-form Hearts, with a late Stephen McManus header cancelling out Andrew Driver’s opener.

Rangers, who drew 2-2 with Dundee United earlier on Saturday, remain four points behind Gordon Strachan’s men.

Bundesliga
Bayern Munich moved to the league summit for 24 hours despite being held to a 2-2 draw by Stuttgart on Saturday, while Hertha Berlin and Hamburg also kept up the pressure at the top.

Hoffenheim reclaimed their place above Bayern as they played out a 1-1 draw against nine-man Schalke on Sunday, while the weekend started with a victory for Borussia Dortmund against Borussia Monchengladbach on Friday night.

Ligue 1
Defending champions Lyon remain three points clear at the top of Ligue 1 after being held to a goalless draw by title rivals Marseille.

Bordeaux joined Marseille on 32 points as they defeated Le Mans 3-2, while Paris St Germain won 2-1 at Auxerre.

Pensioners in Tenerife could be losing out on millions

Are pensioners burning cash?

Are pensioners burning cash?

British pensioners living abroad could be losing out on a whopping £2 million each year by using banks to transfer their pension payments from the UK to their adopted homeland…

With many struggling to get by on a British pension, the last thing pensioners should be spending their money on is bank charges.

But that is exactly where £2 million worth of British pension cash is going each year.

Foreign exchange specialist Moneycorp has found that, whilst high street banks vary in the amount of money they charge for sending money abroad on a regular basis, some of them charge up to £20 for each international transfer.

Thus, by regularly transferring their pension payments abroad, expat pensioners are spending far more than necessary.

Marc Morley-Freer, Commercial Director of Moneycorp’s Private Clients Department, said, “Our analysis shows that many high street banks are providing poor value to retired people living overseas.

“Falling house prices and higher costs of living may already be taking their toll.

“I doubt retired people are happy about giving such significant proportions of their pension payments to banks in exchange rate margins and transfer fees, especially as the Pound’s recent fall against most major currencies may be making it difficult for pensioners living abroad to make ends meet.

“To get the very best deals on foreign exchange we advise people to shop around.

“Foreign exchange specialists generally give the most favourable exchange rates and charge significantly lower transfer fees,” added Mr Morley-Freer.

What about the Euro?

Back in January 2007, couples who receive the basic state pension of £628 a month used to get €961 when converting it. Now, due to a weakened exchange rate, that money only translates into €766.

As the currency markets are currently so volatile, Britons living in Europe and receiving their pensions in pounds are being hit hard.

Currency specialist HiFix found that each month the average retired person living abroad pays anything between £10 and £30 in transfer fees and other bank charges to have their pension paid into their bank.

Of the 1,080,000 Britons who have a state pension paid to them abroad, the largest proportion are being paid into Australian bank accounts.

Canada follows in second place, followed by the USA, Republic of Ireland and Spain.
The big freeze

Pensioners in the eurozone receive annual increases in the British state pension, although pensioners who live in other countries often do not.

Depending on which country you move to, however, the level of your UK state pension could be frozen, either at the time you move abroad or the time you first claim it.

This means that your pension will not be raised in line with inflation, as it would be if you lived in the UK.

Britain has special agreements with some countries, though, which mean that, if you live there, your pension will be raised each year just as if you were still in the UK.

These countries include all of the EEA countries (all EU countries plus Norway, Iceland and Liechtenstein), the USA, Serbia, Montenegro, Mauritius, Jersey and Guernsey, the Philippines, Croatia, Israel, Jamaica, Barbados, Bermuda, Macedonia, Bosnia-Hercegovina, the Isle of Man and Sark.

A Spokeswoman for the Department for Work & Pensions said, “Annual upratings of the state pension are paid to UK state pension recipients resident in the European Economic Area and Switzerland, or countries where we have reciprocal social security agreements which allow for increases to be paid there. Everywhere else the State Pension is frozen,” she added.

If you have a private pension too, you should check whether it will pay out into foreign bank accounts. Many will pay only into UK accounts so you may need to keep a British bank account open for this purpose.

Another issue related to private pensions is that they may be treated by the tax authorities in your new home as a foreign investment. In some countries, pensions are almost entirely provided by the Government so there is little recognition of private pension arrangements.

Tenerife Holidaymakers often end up as Property Buyers

If you have ever wondered why Tenerife is at the top of most people’s holiday lists then take a look at this video. It is no wonder that after a visit many people then turn to buying a property on the island as a second home or an investment.