UK investors their tax problem

[MickMason]

Originally Posted by YvesT

It's going to be hard to figure out something for that

He needs a good UK accountant there are several ways to legally reduce tax liability.

As far as spreadbetting goes if it's his sole or main income then the Inl Revenue can classify it as 'professional gambling' tax it at the higher rate like any other unearned income.

[jtraderfx]

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 not pay tax. Break the investments up into many little . 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 understing is that the government is cracking down on people working in the UK but getting paid in offshore accounts ( 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 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) do your business there as a non-domicile UK resident who spends no more than 90 days in this country. The French riviera sounds much nicer!

j

[jtraderfx]

One more thing another tax efficient method is to invest through a self-managed pension fund. The problem here is that he wouldn't be able to withdraw funds until retirement.

[YvesT]

how about the problem were it all starts.
is it possible they add names on the suspect list when they notice somebody transfers a certain amount of money out of the UK to a Swiss account for example.

So finding a way to get money to a swiss account undetected would solve this.
Western union maybe.
not sure how much sense this makes this is what my client came up with.

[MickMason]

lol too funny