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Sideways Rich
Original Poster
939 posts
46 months
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I start a new job in the new year which means re-locating to Singapore.
Does anyone have any recommended IFA's with experience of advising Brits re-locating to Singapore?
Thanks
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cs174
580 posts
89 months
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The Fry Group deal with tax and financial advice specifically for expats.
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z4chris99
5,709 posts
48 months
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become an official non resident and reap the rewards...
then spend it on the 10 quid pints in singa...
great place btw, got some mates working out there
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Cheib
6,177 posts
44 months
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A mate did this a couple of years ago...I can ask him tomorrow.
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Sideways Rich
Original Poster
939 posts
46 months
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z4chris99 said: become an official non resident and reap the rewards...
then spend it on the 10 quid pints in singa...
great place btw, got some mates working out there Thanks that is not far off the plan, does anyone know how CGT works on UK shares when you're official non-resident ? i have a small bunch of shares bought whilst in the UK as a tax payer here, haven't taken any gains yet that would take me over the £10,600 CGT allowance.
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Sideways Rich
Original Poster
939 posts
46 months
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Cheib said: A mate did this a couple of years ago...I can ask him tomorrow. That would be much appreciated, thank you
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z4chris99
5,709 posts
48 months
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Sideways Rich said: Thanks that is not far off the plan, does anyone know how CGT works on UK shares when you're official non-resident ?
i have a small bunch of shares bought whilst in the UK as a tax payer here, haven't taken any gains yet that would take me over the £10,600 CGT allowance. depends how long your gone for.... for under 5 years... Q4. I am going to live abroad for less than 5 years, am I liable to capital gains tax if I dispose of my shares whilst I am not resident and not ordinarily resident in the UK? A. It depends. You will be liable to capital gains tax on the disposal of any shares you acquire before you leave the UK if you are resident or ordinarily resident here for at least part of each of 4 out of the 7 tax years immediately prior to the year of your departure . If you are liable, any gain or loss on your disposals are treated as accruing in the tax year of your return to the UK.
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The jiffle king
2,879 posts
127 months
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Can I suggest that you open up some bacnk accounts before you go. When you are abroad, it can be tricky to open new accounts and any money you have in the UK is not easily transferrable to a newly opened account (It is possible, but not with all banks)
I made the mistake of closing some accounts and we were restricted in terms of what we could do when abroad.
Think about any ISA´s you have, particularly if related to a mortgage as you cannot pay into them whilst abroad under the tax saving scheme
If you have a mortgage, ask your lender to change the deal to a buy to let under the same terms and conditions
All the best
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XJSJohn
13,351 posts
88 months
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Will introduce you to the guy that does my investments etc once you get here if you want. He already does a few PH'ers Www.globaleye.sg
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Sideways Rich
Original Poster
939 posts
46 months
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XJSJohn said: Will introduce you to the guy that does my investments etc once you get here if you want. He already does a few PH'ers Www.globaleye.sgPerfect thanks chap, that would be very helpful .
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XJSJohn
13,351 posts
88 months
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Sideways Rich said: XJSJohn said: Will introduce you to the guy that does my investments etc once you get here if you want. He already does a few PH'ers Www.globaleye.sgPerfect thanks chap, that would be very helpful . No worried, also as mentioned above, make sure you keep a good bank account in the UK that lets you have an international address (I use Citi in canary wharf) and don't forget to post your P80 when you leave, although might be worth checking with a UK accountant if there is anything else that you should be doing from a UK perspective before buggering off. Last tip - bring a few k in cash with you in casein takes a while to get local accounts set up and you need some spending money without being hit for bank charges every withdrawal.
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Cheib
6,177 posts
44 months
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Sideways Rich said: Cheib said: A mate did this a couple of years ago...I can ask him tomorrow. That would be much appreciated, thank you Not really much help I'm affraid, the company he was hired buy paid for PWC to advise him. I have myself what I consider to be a very good IFA, they are of the more sophisiticated variety and have been very good for tax advice in the past.
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Sideways Rich
Original Poster
939 posts
46 months
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XJSJohn said: No worried, also as mentioned above, make sure you keep a good bank account in the UK that lets you have an international address (I use Citi in canary wharf) and don't forget to post your P80 when you leave, although might be worth checking with a UK accountant if there is anything else that you should be doing from a UK perspective before buggering off.
Last tip - bring a few k in cash with you in casein takes a while to get local accounts set up and you need some spending money without being hit for bank charges every withdrawal. Thanks for the tips, you've been extremely helpful, seeing my accountant next week to run through what needs to be done.
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