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• #455
As far as I know I am UK-domiciled because I have had no intention to stay permanently in NZ. As far as I know I am not a UK tax resident because I haven't been to the UK in over two years. So what does this mean?
Also what are the options for sending the money over? It will be about 40k GBP, or
There is a possibility of taking some cash, I have two trusted friends coming over in January who can take 10k NZD each (the most you can take out of NZ without declaring it) and my partner and I can take the same.
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• #456
On a public forum?
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• #457
I have a specialism in advising on 911s you shouldn't have sold, not the best ones to buy.
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• #458
hah!!!!!!11111111111
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• #459
Sure, I'm not asking for anything dodgy am I? I don't avoid tax, I just evade it. No, the other way around.
This seems to answer the question:
http://www.telegraph.co.uk/finance/personalfinance/expat-money/10230204/Ask-the-experts-Must-I-pay-UK-tax-on-my-savings-earned-abroad.html"As the money was earned when you were not UK resident, UK tax will not be payable on it, whether or not you bring it back to the UK."
I am not a UK resident currently, as far as I know.
and
"The exception to these rules affects people who are UK resident but not UK domiciled...
As you have decided to return to the UK you are almost certainly UK domiciled and have remained so throughout your stay abroad..."But I am UK domiciled. So no tax to pay, right?
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• #460
no tax to pay it seems, however, and please forgive the following statement, it's not given from a position of arrogance, but of reality: 40k is a relatively trivial amount that can soon get eroded quickly just on living expenses, and remember, unless you invest it in an asset straightaway it'll earn virtually no interest in the UK banking system.
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• #461
Yeah I understand that, I have about 15k in ISAs in the UK and I am renting out my house in Essex at the moment so that's generating a bit of income too. Should be enough to set us up in the UK for six months whilst we job-search and buy a car and stuff. Then plan to buy a house within 18 months of landing. However not really sure what sort of asset to invest it into in the meanwhile.
Now the other thing I need to think about is how I might leverage the value of the house I already partially own. No mortgage to pay, but it's tricky because my little brother owns half of it. He's still at school so he doesn't live there and we rent it out. I could sell up (as in, sell it to my parents, who are happy to buy it). Not sure what the pros/cons are.
The painful thing is that I could buy a 3-bed family home/huge garden/beautiful view here in NZ for less than 100K GBP... but with kids hopefully coming in the next couple of years we'd rather be nearer family (for their sake).
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• #462
Take out a let-to-buy mortgage on the Essex house to release cash. If your brother doesn't want to do the same you can vary the ownership % to take into account the bit you've had.
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• #463
Started reading Flash Boys by Michael Lewis on Friday, finished it this morning.
https://www.waterstones.com/book/flash-boys/michael-lewis/9780141981031
+1 from me.
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• #464
Does anyone on here do direct investment in stocks and shares through something like a share building account? I want to buy something to keep long term outside my ISA and wondered if anyone had experience and could recommend either a particular company/website?
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• #465
Disclaimer: I work for a firm pretty close to the subject matter for this.
That book spoilt Michael Lewis for me. I have always enjoyed his books bit this one contained such inaccuracies that I now take the others with a bit of a pinch of salt.
One of the areas that he is definitely accurate though is the degree of secrecy that surrounds the industry, which makes it very difficult for people involved to talk about it. It is a very competitively sensitive environment.
I would very much recommend http://www.amazon.co.uk/Flash-Boys-Insiders-Perspective-High-Frequency-ebook/dp/B00P0QI2M2 as a bit of a view of the other side. I can probably lend you a copy if you would like.
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• #466
Any reason to why you want to keep it outside of your ISA? I use Hargreaves Lansdown for my S&S ISA and SIPP, I don't have but they also provide a Fund & Share account. Its worth shopping around for a provider though, HL aren't the cheapest but I find there website and apps the easiest to use and call centre is Bristol based.
Quick google search will bring up lots of comparisons/review but here are some of the providers available:
http://www.hl.co.uk
http://www.cavendishonline.co.uk
http://www.halifax.co.uk/sharedealing/
http://www.ajbell.co.uk -
• #467
I would very much recommend amazon.co.uk/Flash-Boys-Insiders-Perspective-High-Frequency-ebook/dp/B00P0QI2M2 as a bit of a view of the other side. I can probably lend you a copy if you would like.
Will definitely give it a read, I'm not London based but thanks for the offer, just picked a copy up off the net.
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• #468
Thanks - v helpful. I was keeping it outside as I use my tax allowance for the ISA and had a bit extra and wanted to see what I could do with it.
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• #469
Open question....
I have a child arriving in Jan and want to set up a long term fund for the little arsehole.
I have a £1000 lump sum and £100 a month regular contributions to work with initially.What should I do with it?
Already maxed my personal ISA allowance. -
• #470
Open 'The Little Arsehole' a junior ISA?
A bloke I work with has gone one step further and opened a Junior SIPP for all of his grandchildren.
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• #471
Set them up a child isa, think the allowance is about £4k a year, they cannot access it until they are 18. I opened one with the Nationwide, I think because it was the only one I could open online or something.
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• #472
Sounds like the best idea.
Little Arsehole needs a name before I can open it though....
I'll have to wait until he puts in an appearance. -
• #473
Little ISA is good, especially as grandparents and other relatives can contribute to it.
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• #474
Cheers Andy...
Is Little ISA a specific product?You got a link for me?
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• #475
Number 2 daughter has one with Nationwide, but most banks/building societies offer them I think.
less than 50k - keep it in nz
50-100k, bring it all back, pay the relevant tax - buy a nice porsche 911 and keep it garaged
over 100k, bring it all back, pay the relevant tax - will be your deposit to invest in london property