Archive for the Private wealth management. Category

HMRC offers tax planning amnesty

Posted in international tax advice, international tax planning, Private wealth management., Tax Avoidance, Tax Planning on January 7, 2013 by John

HMRC offers tax planning amnesty

7 January 2013

HMRC has issued an invitation to participants in certain tax-planning schemes to settle without going to litigation. Initially the offer only covers a very limited number of schemes.

The category of schemes includes the use of General Accepted Accounting Practice (GAAP) by companies, sole traders or partnerships to create asset depreciation costs and reduce their taxable profits. Other schemes subject to the amnesty are those relying on film production expenditure relief, and those that create partnership losses from first year allowance reliefs, restrictive covenant payments, and certain capital allowances.

Similar arrangements may be extended in future to participants in film partnership sale-and-leaseback schemes, and interest relief schemes based on S353(1) ICTA 88, though HMRC has not yet decided. HMRC says its aim is to restrict relief so that expenditure which is not part of the real economic cost borne by the participants will be excluded when calculating losses or capital allowances. Only amounts equivalent to the actual cash contribution funded by the participant and expended in the claimed trade will be allowed when computing losses or capital allowances.

Reliefs will probably not be allowed where the scheme participants have paid fees for tax advice or litigation protection. Some specific schemes that fall into the above categories are, however, expressly excluded from the amnesty. The offer has been prompted by HMRC’s successes in some recent litigation, notably Tower MCashback, and the film partnership cases Eclipse no.35, Icebreaker no.1, Samarkand and Alchemist. HMRC plans to contact all eligible individuals by the end of January, and says it is prepared to settle with individual partners in a scheme even if the partnership as a whole declines the offer.

Those who decline to settle will see the agency ‘increase the pace of our investigations and accelerate disputes into litigation,’ it said, though no specific deadline has been set.

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Barclays (Cream of responsible banking)

Posted in Asset Protection, Asset Protection & Tax Planning., Economics, Private Banking, Private wealth management. on September 2, 2012 by John

http://www.ibtimes.com/articles/379757/20120901/barclays-makes-500-million-betting-food-crisis.htm

Russian Mini Economic Boom in 2012

Posted in Asset Protection & Tax Planning., Economics, Financial Freedom, international tax advice, international tax planning, International Trusts, Private wealth management. with tags on December 28, 2011 by John

It’s not easy being contrary. But it is where profits are often found.

Take Russia, for instance. It’s a market that has been on a downward slope for much of the year as global investors fret about what’s to come with new elections – now that former-President Vladimir Putin is looking for another tour of duty.

That kindles bad memories of iron-fisted Russian premieres of the old Soviet Union.

And just this month, protestors began taking to the streets of Moscow and St. Petersburg and clashing with police in the aftermath of questionable parliamentary elections.

It’s in moments like these, when non-economic turmoil upsets markets, that you often find the best opportunities.

Russia is the cheapest of all the so-called BRIC nations today. It’s benefiting from what I call “micro booms” – this one in the consumer and in resources and this micro boom means that 2012 will be a good year for Russian stocks.

I was sitting in a small conference room in Zurich, talking with Alex, the former head of private banking in Moscow for a major Swiss bank. Having spent years living and travelling in Russia, he has a knowledge base of the country as deep as Russia’s winter freeze.

Today, Alex still invests in Russia for ultra-high net worth private clients from his office in Switzerland. I searched him out because I wanted a non-American view of Russia.

It’s very easy for American equity analysts to allow cultural prejudices to color their thinking about Russia, especially because of all we’ve gone through with the Great Bear during the Cold War and beyond.

Indeed, Americans like to cut-and-paste their own Western economic and political values and apply them to the rest of the world. That leads them to miss opportunities, because they’re looking at the country through a distorted lens.

Europeans see Russia from a different perspective. And Alex’s take is that “Russia is cheap.”

Back in my hotel overlooking Lake Zurich, I pulled up a list of major Russian stocks to gauge their valuations and see just how cheap they might actually be. And they are cheap – by any measure … and ridiculously so.

I found gads of stocks with P/E ratios in the low- and mid-single digits. The MSCI Russia index, which tracks the market as whole, is now trading nearly 50% below the 10-year average. That’s the kind of cheap that presumes everything in Russia is headed in the wrong direction … but that’s not the case.

Russia is in a pretty good position, economically. Its economy is deeply reliant on oil, and oil-price movements exert big influence on its stock market. At the moment, there are worries about recession in Europe and whether that flows through America and, ultimately, through oil prices.
but that’s the short-sighted view.
America and Europe are busy increasing their money supply, and oil prices will move higher, relative to the dollar – since the two tend to move in opposite directions. And that, ultimately, is good news for the Russian economy and its stock market. 

By Jeff D. Opdyke, Investment Director,

The Sovereign Individual

“A Solution to Eurozone Debt Crisis is Beyond Reach”

Posted in Economics, Financial Freedom, Private wealth management. with tags on December 17, 2011 by John

Credit rating agency Fitch have said that “A solution to the Eurozone debt crisis is beyond reach” and the are reviewing the credit rating of 6 Eurozone countries including Spain and Italy.
Will that be an end to the anglo-french bickering?