Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to johnstevens77,Bhoddhisatva,scotia,Anonymous,Cornytiv34, for Donating to support the site

Sourcing a financial health-check?

Think it, Plan it, Do it
DiamondEcho
Lemon Quarter
Posts: 3131
Joined: November 4th, 2016, 3:39 pm
Has thanked: 3060 times
Been thanked: 554 times

Sourcing a financial health-check?

#37773

Postby DiamondEcho » March 10th, 2017, 10:15 am

A synopsis of my situation:
UK citizen, aged 50-55
Expat status abroad as non-UK resident for 8 full tax years.
Intend to retire early to the UK in c1.5 years.
During past 8 years I've accumulated a share portfolio that in future will create the household income.

During our remaining 1.5 years here I wish to ensure in advance that my future tax position is optimised. There is a column in the weekend Telegraph I occasionally see where readers write in with their financial situation, and their future goals, and three 'experts' give their opinions on how the subject might steer their investments, also highlighting potential pitfalls, and adding any further suggestions.

DAK what these 'experts' are, what is their job called? I'm thinking the tax element is more of a concern to me as after 8 years so much has changed I'm really out of touch with current rules, and opportunities. As a self-directed investor I'm less in need of specific suggestions what to invest in, though views as to diversification could also be useful as part of a holistic overview.

Would such a person be an IFA? Or perhaps some kind of tax advisor? It seems to fall in between to me.

DiamondEcho
Lemon Quarter
Posts: 3131
Joined: November 4th, 2016, 3:39 pm
Has thanked: 3060 times
Been thanked: 554 times

Re: Sourcing a financial health-check?

#37877

Postby DiamondEcho » March 10th, 2017, 2:03 pm

Hehe... I visited the IoM a few times on business and as interesting as it is to see I couldn't live there. Even Douglas the capital feels very very small-town IMHO... and then there's the weather... ugh.

Thanks for the suggestion of asking my broker, I will check just in case though Interactive Brokers are, in my experience, an execution focused discount broker... but we'll see!

saechunu
2 Lemon pips
Posts: 176
Joined: December 14th, 2016, 5:46 pm
Been thanked: 36 times

Re: Sourcing a financial health-check?

#37895

Postby saechunu » March 10th, 2017, 2:46 pm

I would have thought that an IFA specialising in (returning) ex pat affairs would be appropriate.

Regarding the IoM, I know someone who's just exiled themselves to a spread there. But looks a bit bleak for a permanent proposition, and I note they're busy learning to fly so they can more easily escape to civilisation periodically...

Tortoise1000
2 Lemon pips
Posts: 224
Joined: November 4th, 2016, 12:20 pm
Has thanked: 53 times
Been thanked: 63 times

Re: Sourcing a financial health-check?

#38003

Postby Tortoise1000 » March 10th, 2017, 8:08 pm

A chartered financial planner might be what you are thinking of. That is the sort of bod they have on the Money Makeover series

https://en.wikipedia.org/wiki/Chartered ... al_Planner

Chartered accountants also work for private clients and can advise on tax. Its a question of finding one who specialises in your sort of area.

T

DiamondEcho
Lemon Quarter
Posts: 3131
Joined: November 4th, 2016, 3:39 pm
Has thanked: 3060 times
Been thanked: 554 times

Re: Sourcing a financial health-check?

#38110

Postby DiamondEcho » March 11th, 2017, 3:55 pm

Thanks folks!


Return to “Your Tomorrow Starts Today”

Who is online

Users browsing this forum: No registered users and 1 guest