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joffy
24 Dec 09 08:11
Joined:
Date Joined: 01 Aug 03
| Topic/replies: 437 | Blogger: joffy's blog
Hi mate

Ive got a busy schedule today with drinking etc so cld you answer this for me.

I am a Non Domiciled Frenchman living in the UK with my English wife and want to plan ahead for Inheritance Tax (and any possible Capital Gains Tax). I am 67 and have lived in the UK for over 35 years. I have a non domiciled status as I originally intended to move back to France upon retirement. My wife was also granted temporary non domiciled status as she too intended to life in France once we were both retired.

We have three children, all married and they have their own children. It is because of the grandchildren that we are now thinking of staying in the UK.

We have a UK property worth circa £550k and property in France (which I inherited from my own parents and is in my name only) worth circa £250k. We also have some money in UK banks and also some money in a French bank. In our will all assets are to be left to the surviving spouse.

I know this is a complex area, so any help would be very much appreciated on the following questions:-

1) I have read, that despite being granted Non-Domicile status, I could be deemed a UK domicile as I have lived in the UK for over 20 years Is that true?
2) I have also read somewhere that unless we move to France, my wifes Non Domiciled status could be taken away or that for IHT she would be deemed to be UK domiciled if that is correct, how will that affect us?
3) Am I correct in thinking that for Non-Domiciled people, foreign assets are excluded for IHT purposes? Would the deemed-domicile affect this?
4) Am I correct in thinking that only UK assets are included in IHT (even for Non-Domiciled residents)?
5) Can I transfer money now from my French bank account to my UK bank account without being liable to any tax?
6) If the overseas assets are exempt from IHT, upon the a) first death and b) second death, can money held overseas (either from existing bank accounts or from the sale of the overseas property) be transferred to the UK to the surviving spouse or our children, without suffering any immediate CGT? How are the UK authorities made aware of any transfers into a UK bank account or do they not need to be made aware.
7) Now that we are considering staying in the UK, should we change our Non-Domiciled status so that we are both UK domiciled?

Many thanksa_retired_frenchman
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Report sendero December 24, 2009 8:14 AM GMT
Try pushing all-in on the river :)
Report Soap December 24, 2009 9:56 AM GMT
good work Joffy :D
Report joffy December 24, 2009 9:58 AM GMT
Dont help him mate hes on probation at the moment and i feel it wld be an unfair advantage to others
Report Soap December 24, 2009 9:59 AM GMT
only help I could give is get shot of her for a 21 year old Eastern European if got all them assets ;) :D
Report arbboy December 24, 2009 10:03 AM GMT
happy xmas joffy. u are obviously still stuck in the most boring profession in the world and never got out after your training. i feel for u. tax was never my bag i was a advisory/CF boy before i left. we always had tax nerds to crunch all those sorta problems for us.
Report Soap December 24, 2009 10:05 AM GMT
15 all :D
Report Soap December 24, 2009 10:05 AM GMT
Good work Arbboy !!
Report HYPE December 24, 2009 10:07 AM GMT
Come on Arby - this sort of situation must make up 95% of an average accountants work load !

:)
Report arbboy December 24, 2009 10:09 AM GMT
u obviously never worked in cf which i did. the boring stuff like this was left to the backroom nerds to deal with and tax geeks. strange bunch which is why most leave the profession. obviously joffy never escaped. seriously feel for him this time of year having to face those issues daily and give gordon 40% of his wages on top as additional punishment
Report Soap December 24, 2009 10:10 AM GMT
you forgot ni
Report HYPE December 24, 2009 10:12 AM GMT
Trick question - why would anyone help a frenchman save tax ?
Report arbboy December 24, 2009 10:14 AM GMT
i reckon 85% of accountants working in a big 4/5 firm whatever it is nowadays wouldnt be able to answer that question if they werent a full time tax specialist. maybe more.
Report joffy December 24, 2009 10:15 AM GMT
Thankyou Arbby

I am an equal partner with my wife and whilst its not the most exciting job in the world it pays very well for not many hours and much better than the 28th best poker player in europe. I also get to meet a lot of interesting peopel from various trades/proffessions etc which also means lots of corporate beanos.

Dont forget if you go busto i can offer you a 15k starting salary plus benefits which will include luncheon vouchers. These can be exchanged at the local bakers for donuts but please note luncheon vouchers are a taxable benefit.

Gl at the tables and Merry Xmas to you

Game over
Report Soap December 24, 2009 10:17 AM GMT
30 15
Report Soap December 24, 2009 10:18 AM GMT
never had you down as a number monkey Joffy !!!
Report arbboy December 24, 2009 10:19 AM GMT
wp gg joffy. sounds really exciting meeting small time business men and women and finance directors/jobs worth bean counters. you are making me so jealous. given the fact i did it for 5 years u dont have to tell me the upsides/downsides. i have been there and done it pal and like anyone else with a brain u leave after the training before u go**ers dealing with possibly the most boring group of pc yes men/women u will ever meet. anyone who is a partner in any firm deserves a huge salary to simply put up with the total dullness of having to answer questions each and every day like the one u posted
Report Soap December 24, 2009 10:20 AM GMT
30 all :D
Report joffy December 24, 2009 10:22 AM GMT
Oh and as a partner I dont take wages i just take the big lump thats left ;).

Thought you wld of known that.

As for 40% its 50% next year woohoo
Report R0ykeane December 24, 2009 10:24 AM GMT

I am an equal partner with my wife and whilst its not the most exciting job in the world it pays very well for not many hours and much better than the 28th best poker player in europe


False
Report arbboy December 24, 2009 10:25 AM GMT
gordon always takes as big a lump as u get which must really annoy you because it did me. i got no problem with anyone in the profession i just leave really sorry for them having to give half their wages to a scottish miser after doing possibly the most boring job all year to actually earn them.
Report joffy December 24, 2009 10:26 AM GMT
Surely after training you leave and start your own company.

Huge difference when you own a practice as opposed to working for a practice.

Anyway must get back to the frog if you cant help
Report Soap December 24, 2009 10:26 AM GMT
30 40 break point
Report joffy December 24, 2009 10:28 AM GMT
40/30 surely ;)
Report Magical Feast December 24, 2009 10:29 AM GMT
Im not sure so im guessing..

B
Report joffy December 24, 2009 10:29 AM GMT
As for Roy Keane dont think i need to prove that me and the mrs earn more than 100k dollars per year lol.
Report arbboy December 24, 2009 10:30 AM GMT
yes there is a huge diff. its just as boring but all the hassle of running the show and dealing with boring accountant types all day who work for u.
Report R0ykeane December 24, 2009 10:31 AM GMT
Joffy you strange man..... 28th best player in the world in what exactly?? Live games?
Report joffy December 24, 2009 10:32 AM GMT
Looooooooool.

Dont think that needs the answer as it appears the 28th best player in europe has gone over yr head
Report Soap December 24, 2009 10:32 AM GMT
Roy I think you are sticking beak in when dont know what he is referring too !!
Report Soap December 24, 2009 10:33 AM GMT
surely playing STT all day is where my noring than an accounting job?

Major difference also is when you do it bad, one pays and one doesnt !!!
Report R0ykeane December 24, 2009 10:33 AM GMT
Oh it must be Arrrbooooooooooooy?? A jibe?????????


This guy attracts so much attention on here....wtf is with that?
Report Soap December 24, 2009 10:33 AM GMT
FFS - that was meant to say way more boring
Report joffy December 24, 2009 10:33 AM GMT
Anyway gg Arbboy.

Ill take a draw and offer peace and harmony with you in the new year.

Im taking the nerds to the pub now ;)
Report Soap December 24, 2009 10:34 AM GMT
^ correct
Report Soap December 24, 2009 10:34 AM GMT
DEUCE
Report arbboy December 24, 2009 10:35 AM GMT
u must have a hell of a small practice if after u gross up my winnings across all my gambling investments not just poker u think u earn more than me. me earning £100k is like u having to earn £200k + after tax and exs. maybe u do. would be surprised if the average partner salary for a big 4/5 firm is more than £250k never mind a one man band
Report Soap December 24, 2009 10:35 AM GMT
foot fault
Report arbboy December 24, 2009 10:37 AM GMT
anyway have fun with the geeks down the pub. their big day out on the boss. i bet they are so excited. if only i could come down and talk IGT and CGT with you all and remember how boring my life used to me. have fun and happy xmas.

same to you all and ty for your continued custom in 2010. i appreciate your custom a lot as i might have to go back and solve problems like joffy does daily.
Report Soap December 24, 2009 10:38 AM GMT
Game Shot Match Arbboy :D

A fine match IMO
Report joffy December 24, 2009 10:44 AM GMT
Game two.

You never go out in pubs and socialise etc.You wldnt introduce yrself even if you did, and if you were challenged you deny who you are due (umpire vouchers for this at this point) due to low self esteem/fear of a hiding etc.

Harmony cancelled

Game set and match
Report Soap December 24, 2009 10:45 AM GMT
15 0
Report arbboy December 24, 2009 10:47 AM GMT
i certainly never go to pubs with accountant types (nap) it must be so interesting whilst you munch on ur 241 lunch which miser accountants are bound to be keen to order to save on the pennys
Report Soap December 24, 2009 10:47 AM GMT
I am havingto grind points on *s to try and get to supernova and this thread is making it so much easier boys - quality work IMO !!
Report Soap December 24, 2009 10:48 AM GMT
15 all
Report arbboy December 24, 2009 10:49 AM GMT
the funny thing is 2 of my old accountant mates sent me a xmas card yday saying how much they wish they had got out of the dull game years ago like i did
Report Soap December 24, 2009 10:50 AM GMT
2nd serve
Report joffy December 24, 2009 10:50 AM GMT
Neither staff nor friends that Im meeting will be sporting a pink 1980 eighties nike air jordan jacket looooooooool.

To be fair neither will the whole of **g newmarket so yp you win you wld be out of place
Report Soap December 24, 2009 10:52 AM GMT
30 15
Report arbboy December 24, 2009 10:53 AM GMT
joffy give up u work in a dull industry probably the dullest. although u meet loads of 'interesting' people. u pay half ur earnings to gordon and have to answer mind numbingly dull questions like the first post shows and deal with equally mind numbingly dull people who actually enjoy answering those types of questions. anyone on here knows which of the two lifestyles they would rather have mine or yours. its a no brainer.
Report DANGERO December 24, 2009 10:56 AM GMT
Joffy get to the pub and stop poking fun at the inflicted. Its Christmas :)
Report "M" December 24, 2009 10:58 AM GMT
As for Roy Keane dont think i need to prove that me and the mrs earn more than 100k dollars per year lol.

Pictures of your P60s, or it never happened.
Report joffy December 24, 2009 10:58 AM GMT
A life of a proffesional successfull poker player is obviously far more interesting than my career. Your not you dont win enough to class yourself as that imo.

As for the proffessional gambling all i have seen of that is you laying a 1.01 shot to win £50 hardly David Nevison their.

If I had of said I ran a farm you wld of owned a tractor company somewhere in your other world.

The bottom line is quality of life is the only thign important to me and mine is excellent. I have lots of friends through football work and poker and I no you miss out on the pokerside. You dotn look sporty so I jsut hope you find them at the dog track.
Report Soap December 24, 2009 11:00 AM GMT
loooooooooooooooool

lost count now !!!
Report joffy December 24, 2009 11:00 AM GMT
As for P60 im not employed M ;)
Report joffy December 24, 2009 11:00 AM GMT
12 great thread happy xmas to all.

Im done enjoy drink loads and be lucky
Report arbboy December 24, 2009 11:01 AM GMT
so u are implying that i never worked in the accountancy biz? believe me its nothing to brag about i try to keep it to myself 99% of the time
Report Soap December 24, 2009 11:01 AM GMT
Arbboy as an accountant I think you should assume he is much lower tax rate, surely any good accountant is putting the cash through corporate tax rather than income tax in his position , thought any number monkey would have known that :D
Report arbboy December 24, 2009 11:03 AM GMT
soap u dont pay corp tax at a partnership which all accoutnants usually are. stay out of the sun soap. leave the numbers to the experts
Report Keith A December 24, 2009 11:04 AM GMT
top fishing Joffy wp
Report Soap December 24, 2009 11:04 AM GMT
By the way Joffy - you should probably take a small wage up until middle tax band starts, your income tax will be less than Corp tax on that part
Report Soap December 24, 2009 11:06 AM GMT
Arbboy I think your tax numbers are as good as your poker ones ;) !!
Report arbboy December 24, 2009 11:08 AM GMT
joffy said and i quote. he was in equal partnership with his wife. partnerships dont pay corp tax as by definition they are not company's
Report Soap December 24, 2009 11:10 AM GMT
if he is making the money he said he was do you really think that would be the way to set up the company!
Report joffy December 24, 2009 11:11 AM GMT
Lol it is like being at work now lets all give it up and go to pub ;).

Wd all involved
Report Soap December 24, 2009 11:12 AM GMT
Indeed quality work happy xmas all.

Arbboy forumite of the year in my crumble opinion fwiw
Report Soap December 24, 2009 11:12 AM GMT
Indeed quality work happy xmas all.

Arbboy forumite of the year in my crumble opinion fwiw
Report arbboy December 24, 2009 11:17 AM GMT
happy xmas all.
Report FFsmd December 24, 2009 11:21 AM GMT
iam glad you found something fullfilling to do with your life arbboy playing D2N all day and all night must fill your life with joy.
Report arbboy December 24, 2009 11:36 AM GMT
i do my hours like any job. i didnt play for 4 days all last week thurs-sunday and still took down the leaderboard. a lot of people would like my lifestyle rather than joffys i am sure. get up when i want work when i want etc etc
Report chipfire227 December 24, 2009 11:42 AM GMT
cant believe arb is still promoting the lie he made 100k from bf poker in 2009.

no wonder he cant find work as an accountant. :-)
Report arbboy December 24, 2009 11:51 AM GMT
$100k chip. do the maths and u will see the numbers
Report chipfire227 December 24, 2009 12:10 PM GMT
i DID THE MATHS, posted it on another thread and got no response.

looking at scope you have played 13,780 games over A 20 MONTH PERIOD. that equates to $55,120 in cake. however you have lost $13,623 playing poker, giving a profit of $41,497.

this is however a 20 month figure. to get a 12 month figure i divide by 20 and multiply by 12 to give a profit of $24,898.

obviously there are leaderboard payments to go on there. but as punterz pointed out there were many, many weeks at the start of the year when he won the leaderboard. there was also a 2 month period when there were no leaderboards !

being uber, uber, generous i will allocate you 400$ for an entire 44 week period. this makes $17,600.

so doing the maths i give you a 2009 profit from stts of $42,498, which is decent money, but less than half of what you claim to have made from bf poker in 2009.

either im missing something or you are deluded.
Report arbboy December 24, 2009 1:21 PM GMT
u are missing several things. $18k aussie millions package which has been received in cash. the fact that virtually all the games have been played in 2009 because i was living in malta in 2008 and only very rarely played on the site for legal reasons so ur ratios dont apply.

thirdly my mtt profits for the year which according to my sheet are $20k after buy ins have been deducted. these included $13k for 4th in the $100 gtd wsope $1k buy in and numerous other wins such as last night in the eyes wide shut.

other bonuses such as the $2kcash chase bonus in the year or whatever it was called.

add this up and u should easily get to $100k. what was ur earnings on bf chip this year?
Report chipfire227 December 24, 2009 1:35 PM GMT
my earnings from betfair poker this year are about 2 million dollars.

i won a chipset, but they gave me the cash instead which i think was 250k. ditto the hoodie.

i have probably won half a million playing mtts, according to something i wrote down on the back of a cigarette packet when drunk, so it must be factually correct.

bf also pay me 41k per annum retainer for being a prop in 2$ SUPER TURBOS.

think i got 3/4 million pounds for the cash chase thing as well.

youre the accountant, do the maths. :-)
Report arbboy December 24, 2009 1:38 PM GMT
diff being chip my account is fact urs is a joke.
Report chipfire227 December 24, 2009 2:18 PM GMT
yeah, i may be joking but ffs you started it. you are a pathological liar.

20k in mtt winnings....are you on crack ?
Report arbboy December 24, 2009 2:28 PM GMT
i won $13k in the $100k 2 months ago in one mtt. maybe u should step above the micro stakes occ and watch the results of bigger games before u comment.
Report chipfire227 December 24, 2009 3:07 PM GMT
ooooh me ribs.

ive watched a fair few of your games arb, and i think your sharkscope rating of 72 flatters you. as usual you highlight your biggest cash of the year and neglect to mention all the losses.

the regular hand histories posted involving you highlight the fact that you are a cake **, with minimal talent for the game.

fair play to you for finding a way to earn money, but even if i believed all the crap you have spouted today,that bf have given you 18k rather than the aussie package, and credited you with 20k in mtt winnings it still dont add up to 100k.

i think you are a big bag of wind, but you make me laugh.
Report arbboy December 24, 2009 3:08 PM GMT
how much have u made this year chip ? more or less than me?
Report arbboy December 24, 2009 3:11 PM GMT
what 'crap' have i spouted? everything i have said is factually correct. i came 2nd in eyes wide last night and won the $1200 gtd last night. its not like mtt wins are rare for me. i won the $18k twice in 2009 before it was changed. maybe u dont keep detailed records at your micro stakes level so have no idea how much u make. i do keep detailed records and know exactly how much i have won and lost. rework your 20months into 12 months ratio to make it factually record. you can go on scope to see how many games i have played in 2009 for more detailed info if you are struggling
Report banking December 24, 2009 3:12 PM GMT
chip ur fking admitting to be a arbboy railtard and u come on here talking 5hit about how much the guy has won. fk ing hater!!
Report FFsmd December 24, 2009 3:15 PM GMT
arbboy 24 Dec 14:21


u are missing several things. $18k aussie millions package which has been received in cash. the fact that virtually all the games have been played in 2009 because i was living in malta in 2008 and only very rarely played on the site for legal reasons so ur ratios dont apply.


arbboy did betfair cash the oz package for you and if u dont mind me asking for how much,iam guessing after the freerolls their will be a glut of packages for sale,so good for you to get yours off your hands, shame you backed out of the big game though it deffo would of made the best thread of next year.
Report arbboy December 24, 2009 3:17 PM GMT
i sold the package to a friend who is a pro punter and plays the aussie every year. he give me the full price for it cus he owes me a favour
Report arbboy December 24, 2009 3:25 PM GMT
packages cant be s**ped for cash u have to sell them privately.
Report FFsmd December 24, 2009 3:30 PM GMT
ok ty
Report chipfire227 December 24, 2009 3:39 PM GMT
i dont hate him banking, the fella is a legend.

but he is like one of them clockwork toys that needs winding up every now and then.

where else would you get comedy gold like the story of him selling the seat to a pro punter friend for 18k :-)
Report chipfire227 December 24, 2009 3:46 PM GMT
arbboy writes :

how much have u made this year chip ? more or less than me?


wont know till i get my p60 sunshine, but probably more than you. i also get to talk to people in my job, and some of them are attractive women.

however if i factor in that i also spend some of my money on clothes, it may be a close run thing.
Report DANGERO December 24, 2009 6:29 PM GMT
chip i think you underestimate how much shiny nylon le shark jackets cost?
Report DANGERO December 24, 2009 6:29 PM GMT
especially the pink ones
Report canaryboy December 24, 2009 6:33 PM GMT
nobody should ever brag about being in the accountancy industry
Report arbboy December 24, 2009 8:01 PM GMT
chip - so u earn a fortune in excess of £150k before tax but play micro stakes stts? doesnt really add up sunshine does it?
Report chipfire227 December 24, 2009 11:21 PM GMT
oh i see what you did there, you measured my earnings in pounds, after measuring your "winnings" in dollars. very clever me old china, theres no flies on you.

you earn $60,000 max per annum. anything else is pure bull. even accepting you have friends, and even stretching my imagination to breaking point and imagining that friend was a professional punter, theres no way he or she is going to pay way, way over the odds for a aussie millions package.

i play recreationally, and i bet on sports recreationally. if i play at micro stakes as you allege , let me ask you this : why is my sharkscope ability rating higher than yours, given it factors in the stake played at ?

bottom line, you make more money playing poker than me as its your full time job. however i am a better player than you.

lets just agree to disagree.

answer me this tho, are you swerving the aussie millions out of fear of being decked ?
Report Big Bad Dog December 24, 2009 11:26 PM GMT
he needs the money from aussie million sat 2 keep in the game!
Report arbboy December 24, 2009 11:50 PM GMT
how is he paying over the odds when he is just giving me the buy in chip? i dont get it? he is going to buy in anyway so he has given me the cash instead of turning up at the casino and giving them the money. how has he paid 'wayway over the odds' as u say?
Report arbboy December 25, 2009 12:03 AM GMT
you earn $60,000 max per annum. anything else is pure bull. even accepting you have friends, and even stretching my imagination to breaking point and imagining that friend was a professional punter, theres no way he or she is going to pay way, way over the odds for a aussie millions package.

i have answered this question in my previous post. given that i have been a professional punter for several years why would you have to stretch ur imagination for me to know numerous pro punters and poker players????

i play recreationally, and i bet on sports recreationally. if i play at micro stakes as you allege , let me ask you this : why is my sharkscope ability rating higher than yours, given it factors in the stake played at ?

u play micro stake donks probably one table at a time - i on the other hand play the biggest games on the site 6-10 tables at a time against obviously mainly pros and the best players on the site. therefore you are highly likely to have a much better roi than me. do u seriously think if i played at your micro stakes that i wouldnt crush them?
surely even a micro stakes donk like u understands that chip?


bottom line, you make more money playing poker than me as its your full time job. however i am a better player than you.

i thought the whole idea of poker was to make money. i get more**in a month than u have made with**over the whole life of ur account.

lets just agree to disagree.

answer me this tho, are you swerving the aussie millions out of fear of being decked ?

why would i want to fly to the other side of the world 30 hours each way to play one poker event? if people do good luck to them. if i want to play a major event there are plenty in europe each year without the need to fly to the other side of the world to play them.
Report Soap December 25, 2009 9:56 AM GMT
Happy xmas Arbboy
Report chipfire227 December 25, 2009 9:59 AM GMT
you must be caking on 10 different sites and playing 24/7 to have got more in a month than my lifetime winnings great man. :-)

in all seriousness in terms of d2n's i dont think theres much difference in standard between the levels i play at and the ones you play at. theres certainly players currently playing the 24$ d2ns like myself, kunoba and tankdahl who could, and do step up successfully.

i played 60$ d2ns earlier this month with the likes of sea breeze and sven vath and the games are slightly tighter but not vastly different.

i was watching a couple of 200$ d2ns last night and the play was worse if anything.

in one game where you had been playing pretty tight, and hadnt played a hand for 3 rotations, you make a standard button shove of 979with blinds 75/150 with a7 , and the bb who has 1050 after paying his blind calls with 9/10.

that didnt seem an isolated incident on what ive seen of the games .

shame about the millions but i take your point.
Report Mavis "Hacksaw" Handbag December 25, 2009 1:28 PM GMT
Happy xmas arby & all.
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