ChatterBank9 mins ago
Gibralter - Tax Advantages
Well, its raining again in Blighty, waited all winter... for warmer rain in the summer! Anyway, sick of the UKs horrible, miserable weather and I'm starting to consider a move to warmer climes. Gibralter looks appealing, good weather, a UK lifestyle and some tax advantages...can anyone enlighten me a little....I want to retire and live on investment income (modest, but do-able) and I also want to minimise IHT when I die. I have UK assets (BTL property) and other more 'flexible' investments...any info much appreciated
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Jesus I wdnt ask any of us
by the sounds of it, we are all on the breadline and rooting around dustbins.
https:/
makes you not wanna go
Your tax affairs will become complicated and you need to take advice. The BTL will still be taxed as UK income and subject to UK tax.
Your will will have to work in GB law and UK law and I have no idea of the difference. Or two wills - pay for advice.
IHT - tax efficiency - give away as much as poss and then live for seven years. Other than that, £3000 / y once. £325 000 is tax free, the remainder at 40%, Regular payments to relatives are tax free, and so are gifts out of income which do not decrease your standard of living.
advice needed: I have no idea how you persuade the tax man of the last two.
I think this is the last place I was wd act on information from
by the sounds of it, we are all on the breadline and rooting around dustbins.
https:/
makes you not wanna go
Your tax affairs will become complicated and you need to take advice. The BTL will still be taxed as UK income and subject to UK tax.
Your will will have to work in GB law and UK law and I have no idea of the difference. Or two wills - pay for advice.
IHT - tax efficiency - give away as much as poss and then live for seven years. Other than that, £3000 / y once. £325 000 is tax free, the remainder at 40%, Regular payments to relatives are tax free, and so are gifts out of income which do not decrease your standard of living.
advice needed: I have no idea how you persuade the tax man of the last two.
I think this is the last place I was wd act on information from
You can buy a 1 bedroom flat for £325k in Gibraltar, there is nothing cheaper.
Oh! There is a 2 bedroom flat at that price, nice views but no balcony or any outside space.
It is surprisingly wet and windy, horribly crowded and driving in and out to Spain is a pain in the posterior.
I've enjoyed several visits but I wouldn't consider living there.
Oh! There is a 2 bedroom flat at that price, nice views but no balcony or any outside space.
It is surprisingly wet and windy, horribly crowded and driving in and out to Spain is a pain in the posterior.
I've enjoyed several visits but I wouldn't consider living there.
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