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- Chatter
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- Joined: Tue, 13 Dec 2011 9:44 pm
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- Chatter
- Posts: 368
- Joined: Tue, 13 Dec 2011 9:44 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?
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?
- Max Headroom
- Reporter
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- Joined: Wed, 08 May 2013 11:31 am
- Location: Singapore
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- Chatter
- Posts: 368
- Joined: Tue, 13 Dec 2011 9:44 pm
You are paying 40% tax on your investments? I am suspecting that the bulk is in property, you paying tax?
- Max Headroom
- Reporter
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- Joined: Wed, 08 May 2013 11:31 am
- Location: Singapore
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- sundaymorningstaple
- Moderator
- Posts: 39755
- Joined: Thu, 11 Nov 2004 1:26 pm
- Location: Retired on the Little Red Dot
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- Chatter
- Posts: 368
- Joined: Tue, 13 Dec 2011 9:44 pm
Yes. Correct, that's what the law requires.[/quote]PrimroseHill wrote:
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?
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- Chatter
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- Joined: Tue, 13 Dec 2011 9:44 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?
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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