I meant by and sell shares in an ISA.
I meant by and sell shares in an ISA.
Because he isn't British.
Does this apply to you? If it does you can run the same scam as him. If it doesn't, you can't.
HMG have been threatening to close this loophole for years but each time they consider it they back off saying "all the people will move and we'll get even less tax from them".
I don't get this excuse as there is no other country that allows this scam so where will they go. Sure, some of them will move, but some will stay. If Mr Rausing were to go home his tax bill could be about 50% more than his UK tax bill even if he paid his full UK tax.
tim
I think that it is unlikey that you will come up with a plan which is legal that doesn't have significant investment risks.
tim
or maybe even buy and sell
The OP does not have a clue about this subject and should accept that their fantasies should stay fantasies.
I don't think you know anything about ISA's do you?
Have you got any knowledge of investments? If you expect one of these events to happen soon all you have to do is invest in businesses that would benefit - eg. arms and security.
You don't seem to be any good at comprehension or thinking.
He doesn't say he is not a UK resident. He is and he is treated as one. He is not domiciled in the UK.
So many people think they have found a "loophole" when all they have created is a pack of lies.
It's not a scam. There's plenty of countries he can go to and pay little tax. They may not be where he would want to live but he could bite the bullet and then visit the UK regularly. He would do that rather than pay vast amounts of tax in the UK or Sweden.
From what they OP says they don't know the difference between a blunder and a scam.
You lied to HMRC. That is illegal. You should have said "yes, but only capital gains less than the CGT allowance".
Wow, a 54 year old accountant, right here on this thread. Just my luck :-)
Your abuse and scepticism aside, like I said my expertise is on rather more exotic subjects. I'm sorry for my ignorance in more materialistic subjects, but I am trying to learn and could really do without the discouragement. Again, I'm sorry if I offended you in some way.
I have uploaded a short example simulation of related work to mine for those who may be interested.
Unfortunately I will not be able to post my exact and rather niche work :-(. The "other side" will certainly *feel* the consequences of it, and that makes me satiated and content in a strange, feral and rather morbid way ;-)
For those having format problems with the .avi file, here's an animated .gif instead.
Thanks for taking the trouble to correct your typo. Sadly, there exist some people who actually think it *is* spelt "by".
No she didn't, and no she shouldn't have. Gains aren't income, as is evidenced by the fact that they are not subject to income tax.
It says you deleted it.
You may have a certain expertise but you wont develop an expertise in accounting and tax by a smattering of reading.
I took the null comment to mean there was no further comment or interest in the matter.
You're right I won't learn about accounting and tax by a smattering of reading. But I don't have the time, energy or interest to learn every nuance of the subject - that's for accountants (and even then there are specialisations).
However I am interested in the general principles much like how I'm learning from the legal eagles here about mens/actus rea, burden of proof and so on.
Saw it, thanks.
The problem is that people don't understand things by study alone. It is the combination of study and experience.
Before you give up your day job, do bear in mind that your transactions were in a period of rapidly rising stock markets. I don't want to belittle your achievement, but you need to work out how much of the investment return was due to this general rise and how much was due to your stock selection and timing. If you want to be super-sophisticated, you could adjust for your stocks' betas, but just normalising the return by reference to index values would help you see roughly how well you would do in a level market.
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