Professional IFA HELP needed for £80,000

Chrismaths

So why do you have to keep posting the inaccuracies Ed? Or do you just enjoy trolling?

whiteflag_3

wongseefu wrote:

Hi there,

THe reason why l have £30,000 in a offshore account is because it's in Hong Kong and the exchange rate just now on it is pretty low and the 3.2% termed deposit for 128 days seem decent with no tax on it. Don't forget if l was to bring it over here, the tax on it is 22% straightaway l think if l'm not wrong.

REgards,



All interest on offshore bank accounts should be declared on your tax return, whether you bring it back or not, so therefore its not tax free.



Happy new year Dh, Chris etc etc see life goes on as normal!:D

dunstonh

Happy new year Dh, Chris etc etc see life goes on as normal!:D

Has your hair grown back after tearing it all last year following some of the threads

Did you get that present for you know who? the replacement needle for their record player... it doesnt seem to have worked.

Chrismaths

Hey whiteflag. Plus ça change, plus c'est la meme chose and all that.

All interest on offshore bank accounts should be declared on your tax return, whether you bring it back or not, so therefore its not tax free.

I think wongseefu is from Hong Kong, in which case he would be domiciled offshore and would only have to declare it on a remittance basis (ie if he brought it to the UK). Sorry if I got the wrong impression, but wong see fu doesn't sound like an old fashioned British name!

Is the money in £, $ or HK$? That might explain the interest rate.

jamesd

EdInvestor, could I possibly tempt you to put together a HYP comparison fund selection using the fund leaderboards at the time one of the HYPs started, with fees and asset reallocation taken into account?

rory41444

Last time I took advice from an IFA I lost the lot, well most of it anyway. my portfolio looked very similar to yours and of a similar value the only difference was the year : 2000AD

Jake'sGran

EdInvestor wrote:

Jake'sGran wrote:

Sites like MSE can contribute a lot to helping people understand important investment issues such as how to manage risk and the impact of charges, and I'm pleased to hear that people think the "banter" is helpful and worth reading.In general I think we manage to maintain a reasonably civil approach.

How very very civil of you!. Must say, a lot of what I read on threads like this
is rather too extensive; an overload of information. As a result I will probably continue to "do it my way" and hope I get it right some of the time. I was reading about Smaller Companies funds recently and believe that the Artemis one I have is not performing well so I am at present looking for an alternative. I believe I lost out by not investing in commercial property but don't think it's a "way to go" now. What do you think?

dunstonh

prudryden wrote:

Difficult to believe. IFA'S always always always hedge themselves by recommending asset allocation among 20 or 30 different markets. If one goes down, the other goes up, therefore, your portfolio generally stays range bound and you can't complain about losing money.

asset/sector allocation is the ideal but you do still find some that pick on the basis that Ed suggests. i.e. pick from top 10. (not ideal).

Unless you have gone into some weird scheme or extremely high risk investment that collapsed I cant see how you could lose your money.

tia999

I have used clubfinance as a discount broker and they appeared to be very good if that helps? I have heard lots of people talk about the others on here aswell though.

wongseefu

The £30,000 in my 128 day termed deposit accound in the bank of china is in HK dollars. Which l've checked that no tax is being paid.


Although l was born here in the UK and stay here, l do have a dual citizenship in HK as well as holding a UK passport.



The discussion is very interesting... keep the comments coming.

Regards, Wong See Fu.