Would you invest Offshore?

HeathfieldRoad1874

HeathfieldRoad1874

Miserable Sod
Given that it's not illegal, if you had the opportunity to invest offshore, and pay less tax, would you?

This is obviously inspired by the release of the Paradise Papers.
 
I would invest anywhere I was virtually guaranteed a profit I have no morals on that score every man for himself.
 
I don't fully understand the process.

Are there issues with returning the money to the UK after having it offshore?

Having a ton of money in an account somewhere you can't access it is no good.
 
Nice one gator. I agree.

BB - you pay tax when you bring it back onshore. The advantage is what is called gross roll up. The compounding of returns, before tax is deducted, can make a big difference. This is more pronounced at higher rates of tax, but lower rates still benefit.

I used to advise my clients to use offshore where appropriate. There are hundreds of little old ladies across the Country that have accounts in Luxembourg, Isle of Man or Dublin.

To say it's only for the super rich is nonsense. I love the outrage in the press, without actually telling the whole story.
 
You pay tax according to where you earn it, as long as you pay the correct taxes when you return the money to the UK then I really don't see a problem. If you don't follow these guide lines there will never be an opportunity to invest in foreign markets, which would be ridiculous.

 
Exactly. How many people here in the UK use ISAs? These don't even pay tax when you take your money out, but they are seen as OK.

The press love to stir things up, without actually informing people.
 
The people writing the stories probably have very little understanding of the situation. We have seen evidence on this site of peolpe making a moral judgement about right and wrong without actually understanding the circumstances and then eroniously postulating that the actions are illegal/unlawful.


 
That's very much the case, Ian.

There are some dodgy dealings exposed. Trump's adviser dealing with sanctioned Russians for one, but just investing offshore itself is not an issue.

It's getting harder and harder to abuse the system, with Worldwide disclosure being more normal now, and Money Laundering regulations so tight. Some still try, and hopefully they'll get punished.
 
I have a couple of offshore accounts in Birmingham, one in Leek, and another in Chorley.
 
HeathfieldRoad1874 - 6/11/2017 09:59

BBJ - 6/11/2017 09:44

I have a couple of offshore accounts in Birmingham, one in Leek, and another in Chorley.
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I hope you're feeling suitably vilified this morning!!!!
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When I set up a current account with the Co-op Bank in Birmingham (back in the 1980s), I had to get Central Bank of Ireland permission which was given on the technicality that as I was born in Belfast, I was a "non-national" (even though I had an Irish passport.)
 
I don't, on principle, like agreeing with VOTN... but his posts above sum it up really.

The press are having a field day, half of them don't understand what they are talking about and there are many reading it who also don't understand what they are reading about. The facts would make for a boring story I guess.

Avoiding tax altogether is another thing and that's how they are trying to paint this. It's the name and blame culture though now isn't it?
 
The Fear - 6/11/2017 15:28

I don't, on principle, like agreeing with VOTN... but his posts above sum it up really.
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