Daily Mail special

PrimroseHill · Post by **PrimroseHill** » Tue, 03 Dec 2013 11:48 am

http://www.dailymail.co.uk/news/article ... eight.html

bgd · Post by **bgd** » Tue, 03 Dec 2013 1:43 pm

Bread and butter for the DM. Where would they be without people like this.

PrimroseHill · Post by **PrimroseHill** » Tue, 03 Dec 2013 1:48 pm

It was a programme on the telly about this recently too.
Yeah, it is still frustating coupled with mirth

JR8 · Post by **JR8** » Tue, 03 Dec 2013 2:42 pm

They have a better quality of life than most people in the UK, and to twist the knife, you're paying for it.

PrimroseHill · Post by **PrimroseHill** » Tue, 03 Dec 2013 3:19 pm

You too, JR8.

http://www.express.co.uk/news/uk/446335 ... est-in-HS2

Awwww Dave sold out to the chinese. The chinese to build HS2? Now what happened to the job creation that Dave promised? If the chinese buy or invest (for want of a nicer word) in HS2, its another piece of UK thats gone foreign.

Anything that's truly Brit anymore?

JR8 · Post by **JR8** » Tue, 03 Dec 2013 3:47 pm

PrimroseHill wrote:You too, JR8.

Quite. Hence why I'm unwinding UK based assets, and parking them offshore. And I expect to accelerate this scheme over the next couple of years.

Sick of paying 40% tax on investments when I haven't even lived there 5+ years...

Max Headroom · Post by **Max Headroom** » Tue, 03 Dec 2013 3:53 pm

And it looks like she's not done just yet, because she joined the dating website on the right. Right alongside Eva Longoria... I mean Arinda58.

PrimroseHill · Post by **PrimroseHill** » Tue, 03 Dec 2013 3:54 pm

You are paying 40% tax on your investments? I am suspecting that the bulk is in property, you paying tax?

the lynx · Post by **the lynx** » Tue, 03 Dec 2013 4:01 pm

Max Headroom wrote:And it looks like she's not done just yet, because she joined the dating website on the right. Right alongside Eva Longoria... I mean Arinda58.

I can't believe you made me watch the slots for a good minute until Eva Longoria... I mean Arinda58 showed up.

JR8 · Post by **JR8** » Tue, 03 Dec 2013 4:05 pm

PrimroseHill wrote:You are paying 40% tax on your investments? I am suspecting that the bulk is in property, you paying tax?

Yes.
Correct, that's what the law requires.

Max Headroom · Post by **Max Headroom** » Tue, 03 Dec 2013 4:07 pm

the lynx wrote:
Max Headroom wrote:And it looks like she's not done just yet, because she joined the dating website on the right. Right alongside Eva Longoria... I mean Arinda58.
I can't believe you made me watch the slots for a good minute until Eva Longoria... I mean Arinda58 showed up.

Post by **sundaymorningstaple** » Tue, 03 Dec 2013 5:55 pm

suckered me as well. But I gave up before seeing Arinda58.

PrimroseHill · Post by **PrimroseHill** » Wed, 04 Dec 2013 10:43 am

[/quote]Yes.
Correct, that's what the law requires.[/quote]

Trusts? SIPPS? ISAS?HMRC NRLS? offshore limited companies. onshore ltd. There are also issues over domicility/residency versus birth country.
Just remember UK FATCA pretty soon

JR8 · Post by **JR8** » Wed, 04 Dec 2013 11:09 am

PrimroseHill wrote:

Yes. Correct, that's what the law requires.[/quote]

Trusts? SIPPS? ISAS?HMRC NRLS? offshore limited companies. onshore ltd. There are also issues over domicility/residency versus birth country.
Just remember UK FATCA pretty soon[/quote]

[My original comment was 'Yes, I pay tax'.]

Trusts. If the business grows organically over many years, you occasionally consider 'tax advantaged' vehicles, but there seems little inertia to going and getting it done. Not least because of the very high up-front costs.

SIPPS - too complicated and restrictive.

ISAs - Isn't that limited to putting something like £250pa into a deposit account earning 0.15% interest, or some such?

NRLS - yes registered. But that just means I file tax returns, rather than PAYE. I of course still pay tax either way.

Offshore limited - same as with Trusts above. Onshore, I understand the taxes would be higher.

Right now I'm considering a pretty big switch. Not least as I've just had life's 'first big health scare', and I'm not investing for anyone else but me the the missus, so would like to get to (guiltily, lol) be able to enjoy a little of the fruits of the labour.

p.s. Are you a landlord yourself?

PrimroseHill · Post by **PrimroseHill** » Wed, 04 Dec 2013 2:18 pm

Yup, I am a landlady. Initial upfront costs of setting up the offshore ltd company is tedious and can be costly - GBP5-7k, but it is so worth it afterwards. Since it is offshore, I am not "obliged" to do an annual return. My accountants, do file an annual return, debits and credit, depreciation etc. Well for us, it has been quite worthwhile to do it that way.
Onshore - it isn't too bad, the tax isn't that hefty unless of course, you are Duke of Westminister/Prince Charles or Queenie herself. Receipts receipts receipts. And as long as you have a good builder or 20
SIPPS - yes, tedious and restrictive, but you have to spread the risks. And rather than keeping the company pension with fund managers, with them deducting 3% admin costs, why not.
Trusts -once again tedious and restrictive. Once again spreading the risks. There are plenty of wrap platforms that will write the trust for you for free.
ISAs. I think that there are quite good offerings around if you shop around. Interest is more than 0.05. Even if you take all your cash savings and put it in Jersey thats paying something like 1% or something
So, just you and the missus? No kids or IHT issues?

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