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It's All Greek To Me

It's All Greek To Me

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A client of another practitioner (honest) has it in his head that the UK economy could collapse if we have a change of government at the next election.

He has substantial investments and does not wish to sacrifice a10-20% reduction in his assets (as occurred in Greece) if the you know what hits the you know what.

Therefore, he is seeking a country to transfer the bulk of his assets to that do not have a reporting arrangement with the UK.

So,

1. Is there such a country that has no reporting arrangement that would not be too risky.

2. If so, would such a transfer now be legal? 

Replies (7)

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By mikeyban
05th Feb 2014 19:46

Is this dodgy?

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Glenn Martin
By Glenn Martin
05th Feb 2014 20:42

tell him

to open up a bank account in Whitley Bay its classed as offshore for Uk tax.

 

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Out of my mind
By runningmate
05th Feb 2014 22:43

He's wrong

The UK economy could (& very possibly will) collapse after the next general election WHICHEVER party wins!

RM

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By johngroganjga
06th Feb 2014 07:57

Your point about the absence of a reporting arrangement with the UK is a non sequitur.  You say client wishes to remove his assets from the jurisdiction to protect them from risk.  That much is clear.  But what has the presence or absence of a reporting arrangement with the UK got to do with any of that? Has the client got another agenda that you have not been told about?

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By andrew.hyde
06th Feb 2014 10:17

Agree with johngroganjga

And another thing.  A country with no reporting arrangement with the UK is going to be just as risky as the UK, and probably more so.

One [***] of light is that after September, Scotland will be available and will fit the bill perfectly.  Or at least that's what the SNP say.

Tell him he may as well put it all on the 230 at Kempton Park.  At least he'll get a good day out for his money.

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Replying to thomas34:
Red Leader
By Red Leader
06th Feb 2014 10:19

panic

not

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By Robert Clubb
12th Feb 2014 11:13

So I am told...........

The suggestion is that the Greeks were caught by the reduction in their capital whether it was in Greece at the time the axe fell. Therefore, those will offshore investments suffered just as much.

I am led to believe that this resulted from reporting countries 'dobbing' the Greeks in. That's why he/she is seeking a non-dobbing country.

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