Asset management The first thing to do is make a list of everything that you (or you and your partner) own which has resale value. By that, I mean anything that is an asset. You might own five thousand books, but if they were all bought second hand in charity shops you will not be selling them on for much. In this case, you shouldn’t count them. Assets might include any of the following: – Property (residential, commercial or land) ...
One way to invest well, from a taxation standpoint, and often from an investment perspective too is in property. I’m not 100% certain why property always is taxed quite so lightly as an investment, but generally it is. As a rule, if the property was your main residence, there is no tax to pay at sale. This means that in rising housing markets, investors that buy their own home can benefit greatly. Second homes can and often will be, very ...
Expats have to realize that among all of their other personal and professional responsibilities, they can’t forget about the need to manage their own household finances while living over here. One of the most important step in real financial planning is making the decision to build a formal plan. If you’ve reached the point in life where you can start thinking about your future, then you need to write a formal financial plan. Before we talk about what a financial ...
‘The current tax code is a daily mugging’ – Ronald Reagan ‘The avoidance of taxes is the only intellectual pursuit that still carries any reward’ – John Maynard Keynes Where do you start with a subject as deep and intricate as taxation? Modern day tax codes are impenetrable even to many accountants. This means that the chances of you or I getting our tax returns right are what a race-goer might call ‘an outsider’. If I take the UK as ...
Developing a financial analysis of an employee’s move helps both the employer and employee determine whether a relocation is really worth it. You call a key employee into your office on a Friday afternoon and ask him to transfer to the company’s New Jersey office. The new job, you say, includes a $10,000 increase in salary and loads of potential ‘in the future.’ You give the employee the weekend to think about it. No doubt, a million questions start popping ...
You know the old joke — it’s not what you earn, it’s what you keep. Well, fast-track young managers in Asia who want the last laugh will start putting together a financial plan that includes investment, tax, and offshore banking components. But the most important step in real financial planning is making the decision to build a formal plan. Everyone thinks that they have a plan – but most of them are really just dreams and wishes. If you’ve reached ...
If you let your home whilst you are abroad, the rental profits will be liable to UK tax as UK source income regardless of your residence status. Some points to note are that: property rental is treated as a business and the profit is calculated using business accounting rules; expenses can be claimed against the rental income, such as repairs, maintenance, insurance, agent’s fees, wear and tear of furniture etc. A deduction can also be made for interest paid on ...
Did you know? No 1 The tax year for individuals in the United Kingdom begins on the 6th April in each year and runs to the following 5th April. The reason goes back to 1752 – the year in which England and Scotland adopted the Gregorian calendar. Historically, the legal year began on “Lady Day” (25th March). When the new calendar was adopted the year lost eleven days (2nd September 1752 was followed by 14th September). The legal year was ...
If you are an expat in living in Asia, you have probably heard financial salesmen using these 3 phrases more or less interchangeably. But are they really the same thing? Financial Planning is the process of matching your assets and income to your long term goals. This often requires Professional help, as some difficult choices and complex calculations may be involved. An integrated financial plan encompasses savings, investing, offshore banking — and most of all, goal setting. If your financial advisor ...
With a hedge fund, that many wealthy institutions and individuals make use of, investors are exempt from many of the rules that govern other mutual funds, allowing the ones involved in them to achieve aggressive investing goals. Throughout this article we will discuss about the seed capital that comes with these types of funds to have a better understanding of how can one get involved as a beginner in this type of investing. Seed capital means in this context the ...
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