Off-Shore banking accounts

[uk_vette]

Who has one.?

I don't want to give Gordy my hard earned money.
I need a company, and personal off-shore account.

[bear puncher]

just give it to me? ill hold on to it for you... promise

[Flintstone]

Lloyds TSB Jersey but get a US$ account as £ are declared to the IR.



Apparently.

[uk_vette]

Flintstone said:

Lloyds TSB Jersey but get a US$ account as £ are declared to the IR.



Apparently.

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I can be paid in almost any currency.

[Flintstone]

You don't have to be paid in dollars, it just goes into a dollar account where it is converted.

Until recently ALL accounts in Jersey were free from the IR's shennanigans. Recently they managed to get information on those accounts. For now the $ account servers are safe.

[RJDM3]

The inland revenue have recently signed an agreement to get information from various offshore accounts. So jersey etc are pointless

Send me a message and i will point you in the right direction for an account and company set up

[bartesque]

I am resident in Guernsey pm me if you need help!

[RJDM3]

bartesque said:

I am resident in Guernsey pm me if you need help!

IRS have access there now

[uk_vette]

RJDM3 said:

bartesque said:

I am resident in Guernsey pm me if you need help!

IRS have access there now

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Seyschelles is also mentioned as non IRS or UK

[blowy84]

barclays, isle of mann. excellent service from ANYWHERE in the world

[uk_vette]

blowy84 said:

barclays, isle of mann. excellent service from ANYWHERE in the world

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And so do UK IRS have access, so thats a NO, NO,

[buddhabelly]

Its not worth it, there is a crackdown on tax haven bank accounts, so when eventually HMRC get the details they will come after you for tax evasion.

[uk_vette]

buddhabelly said:

Its not worth it, there is a crackdown on tax haven bank accounts, so when eventually HMRC get the details they will come after you for tax evasion.

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Not necessarily.

You need to do some reading.

[Alexandra]

uk_vette said:

RJDM3 said:

bartesque said:

I am resident in Guernsey pm me if you need help!

IRS have access there now

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Seyschelles is also mentioned as non IRS or UK

The Seychelles are in a mess at the moment. Unless you are looking to launder, I would suggest not placing your money there.

[Olivero]

uk_vette said:

buddhabelly said:

Its not worth it, there is a crackdown on tax haven bank accounts, so when eventually HMRC get the details they will come after you for tax evasion.

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Not necessarily.

You need to do some reading.

You are both right. HMRC is in the process of trying to track money held offshore but (and this is a big but) only the more well known, close places, eg Isle of Mann, Jersey etc. The far off places are less reluctant to pass on their customers details. The downside is that if you hold your money somewhere like that your money is less protected in terms of international banking regulations. It comes down to how trusting you are of the country/bank that is holding your funds. There are many ways of reducing UK taxes, you need to speak to a good accountant and have enough money to make it worthwhile to begin with, not as a vanity exercise.

[mike_1985]

As long as you have more then £250k then go for it, dont think accountants get involved for lesser sums

Edited by mike_1985 on Monday 15th September 23:56

[buddhabelly]

mickken said:

buddhabelly said:

Its not worth it, there is a crackdown on tax haven bank accounts, so when eventually HMRC get the details they will come after you for tax evasion.

I'm assuming you have little or no expertise in this topic, so why comment?

How many countries are left on OECD's list of un-cooperative Tax havens now, 24ish or so?

With US and all European countries cracking down on people just hiding their cash in a tax shelter bank account, and the purge on tax havens (aka the Liechtenstien whistleblower case) I would be very hesitant to encourage anyone to seek non-disclosure as form of a tax planning. and as liechtenstien shows Tax authorities will go back many years. and before anyone mentions switzerland numbered accounts, not long now before savings directive will push up to maximum withholding taxes. where does that leave your money, nigeria?

£1M hidden away at say 5% = £20k annual tax saving, hardly worth going to prison over.

I'm sure there are some people who will tell you it "its alright" but for me the risk does not justify the rewards, its a personal decision. especially as if I had shed loads there are others legal means to achieve similar results.

but if i am missing part of jigsaw, please feel free ..

[XJSJohn]

could always have a look at Lauban off the coast of East Malaysia / Brunei.

some very private banking done there.

[V8A*ndy]

Nigeria?

[B16JUS]

cayman islands ?