'off-shore investment'

Omega_1 · 1 February 2005 at 12:35AM

Can anyone advise where I can deposit a periodical income (cheque) of under £10K in a 'safe' overseas accessible account ? Enquiries so far have stipulated that I must be an 'ex-pat', live overseas,or off-shore investor, etc etc BUT not a UK resident. I am retired but am darned if I am prepared to help Mr Brown tax my hard earned 'little earner' and wonder if there is anywhere that I can have relatively medicocre funds deposited that I can use a tax free system without 'breaking the law' ?

lipidicman · 1 February 2005 at 11:22AM

I will be the first to ask if you already have an ISA. A little more information will be useful. For starters, you dont make clear the amount or the frequency of the cheques.

Fatboy_NSS · 1 February 2005 at 5:57PM

If you're a UK resident then you have to pay UK income tax on all your income, wherever in the World it's earned. Simply putting it in an offshore account wouldn't help. However there are tax free options such as pensions or ISAs. Alternatively you could put the money into investments that are liable for capital gains tax rather than income tax (assuming you're not over the CGT threshold).

'off-shore investment'

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