Advice wanted: Ex Pat with £500k

RandV

Hi,

We are just about to sell our house in the UK and will hopefully clear about £500k.

Also we are about to move to Switzerland for at least 3 years.

So:
With the FSA limit of £35k for protecting cash (except NR, but they require the saver to be a UK resident, which we wont be!), what are some of your ideas about what to do with the cash if we want access to it in three years time when we'll probably move back to the UK?

Not after especially high returns, as we are happy to sacrifice them as we want high security on the capital.

Cheers,
R

Cook_County

What is your tax position in Switzrland? Are you going for forfait or just regular tax?

I asume you realise the UK will tax the interest in the year of return so holding the cash outside a wrapper may not be the best solution?

bryanb

See also my reply on the other forum.

tawse57

If you do not get the info you need from this excellent forum may I also suggest that you try posting over on the Investment forum at http://www.housepricecrash.co.uk where alot of people seem very knowledgable about investing large sums of money, often from houses they have sold recently. The link is:

http://www.housepricecrash.co.uk/forum/index.php?showforum=27

Also, the Moneyweek website has excellent tips on investing. The link is;

www.moneyweek.co.uk

Hope this helps.

tawse57

Forgot to say, over on the housepricecrash forum there are a few regular posters who have sold up houses in the UK and moved to Switzerland so they should have good info for you if you ask.

RandV

Thanks for your reply

Jonbvn

Have a look at some offshore accounts. A&L IOM were offering 6.51%.

What is your tax status in the cantons (Switzerland)?

Finally, DO NOT TAKE HPC SERIOUSLY!

Aegis

Jonbvn wrote: »

Finally, DO NOT TAKE HPC SERIOUSLY!

Indeed, they've been predicting a house price crash every year for the past 5 years or more and have basically swarmed over any news of any sort with regard to interest rates, stock market fluctuations, or anything else for that matter. Now that the housing market appears to be slowing down, I imagine they're all claiming to have predicted this exact event down to the minute!

I was terrified when I first read their site after buying my place, but then looked around for further information and realised that they'd been doomsaying for longer than I'd even been considering buying!

All in all I'm glad I found this site instead