Quote:
|
Originally Posted by YvesT
I was wondering if anybody has some good advice regarding tax issue's in the UK.
|
As already mentioned.
* £8500 is your capital gains limit. You can earn up to it tax free.
* You only pay tax on capital gains (over the limit) when you cash your investment in. So you can keep it for years and not pay tax. Break the investments up into many little ones. Cash in your limit each year????
* Your losses also carry through (for 4 years I believe). It can be offset against any gains. Considering the way things work around here, this is what will probably happen.
* Offshore investments are fine. You are only considered for tax when you bring it back onshore. My understanding is that the government is cracking down on people working in the UK but getting paid in offshore accounts (and thus avoiding tax). Offshore investments should be fine.
* You also have ISAs, which are tax free investments, but I don't think this will apply here.
* Spreadbetting is another option. It is considered similar to gaming/gambling although the broker pays tax for you. So the government still makes something from it. If he is in full time employment then his trades should be tax free. I haven't noticed spreads being any different so is a good option.
Gordon Brown makes it difficult to get away with paying your dues. Your client should therefore do what any sensible (wealthy) person does. Leave!!
Become a resident of Monaco (or some other tax free haven) and do your business from there as a non-domicile UK resident who spends no more than 90 days in this country. The French riviera sounds much nicer!
j