[Football] This BVI Cayman Islands tax thing,how does it work ?

Leekbrookgull

Well-known member

Jul 14, 2005

16,248

Leek

• Nov 8, 2017

• #1

Interesting piece on Jeremy Vine yesterday (But even then the two 'experts' couldn't agree) however it seems it,s anyone with a bit of cash to Insurance /Pension companies are in on that act and that it is even possible that money sent to one of these 'havens' get sent straight back to the U/K/USA/Far East etc,etc. Therefore (And lets keep it simple) what sort of sums of money are we talking about ? In effect if say Jim Jones has retired at 55 with a private pension pot of £100k downsized and has a further £100k and puts the two together is he better off with U/K tax terms or trying to move it abroad ? None of this ever seems to be detailed in news reports.

 

beorhthelm

A. Virgo, Football Genius

Jul 21, 2003

35,302

• Nov 8, 2017

• #2

if you want to invest in overseas businesses, infrastructure whatever, you need to invest overseas. to pool people from UK, US, German, Japan, Brazil, etc, the holding companies are usually set up in BVI and similar locations, with some added benefits such as profits from the operations of the fund are not taxed. however, any profits made in the underlying investment in the country are taxed as required there, and also when you sell your fund you'll be taxed if there is a taxable gain. you can invest in such funds from a few thousand up, through exchange traded funds.

 

nicko31

Well-known member

Jan 7, 2010

17,572

Gods country fortnightly

• Nov 8, 2017

• #3

Leekbrookgull said:

Interesting piece on Jeremy Vine yesterday (But even then the two 'experts' couldn't agree) however it seems it,s anyone with a bit of cash to Insurance /Pension companies are in on that act and that it is even possible that money sent to one of these 'havens' get sent straight back to the U/K/USA/Far East etc,etc. Therefore (And lets keep it simple) what sort of sums of money are we talking about ? In effect if say Jim Jones has retired at 55 with a private pension pot of £100k downsized and has a further £100k and puts the two together is he better off with U/K tax terms or trying to move it abroad ? None of this ever seems to be detailed in news reports.

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On pension pots I think you will find you have to pay 25% if you are non resident UK. So not as simple as just making yourself non-dom and getting away with it

 

Kalimantan Gull

Well-known member

Aug 13, 2003

12,923

Central Borneo / the Lizard

• Nov 8, 2017

• #4

I know there will be an expert coming along any minute, this is NSC after all. But skim reading the BBC reports this past week, you have to be VERY rich and invest a LOT of money for it to be worthwhile taking advantage of these tax avoiding schemes

 

bha100

Active member

Aug 25, 2011

898

• Nov 8, 2017

• #5

There was an interesting documentary on the bbc last year called the town that took on the taxman, gave a good insight to how all this tax haven stuff works

can watch here if you like


http://www.dailymotion.com/video/x3qgi3w