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Financial advice needed or where to get it?

Discussion in 'General Chat' started by oreoboy13, Aug 1, 2005.

  1. oreoboy13

    oreoboy13
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    A bit of waffle at the the beginning but only for context.

    I have recently finished my first property renovation and i am in the process of selling it for a sizeable profit.(i lived in it to avoid extra tax)

    The enjoyment to pay ratio far out weighs a real job and it is something i want to do full time.

    I am about to move to LA and i will have enough money to buy somewhere to live in as well as somewhere to develop, with the idea of growing the property work.

    As i will not be living in the property i am renovating, i am sure it will be more efficient to setup a company to trade under; my quandry is wether it would be more tax efficient to have the company registered in the UK or USA.

    1) Who would be the best sort of person to talk to about this sort of problem, and does anyone have any recommendations for someone in london?


    The second problem is similar but about shares; i inherited some shares but have little interest, time or knowledge in this area and so they are not providing an acceptable return.

    My idea was to liquidate them and give the money to a fund manager (school friend).

    He is trying to find a solution where by i avoid all the commision and dealer charges, the only solution to this would be to lump my cash into his staff account; thereby exposing my if he did a runner.

    He thinks i maybe able to get a contract drawn up by a lawyer?

    2) Would a lawyer be the best person to talk to, or financial advisor? Or would i just be better getting him to setup my own account had have him trade for me?

    Sorry for the waffle, any help would be greatly appreciated.
     
  2. Mep

    Mep
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    an accountant not a lawyer would be your best bet. Check out the online brokers..like TD Waterhouse for cheap commissions....best to keep these things legit and simple.
     
  3. Astaroth

    Astaroth
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    The first issue you will need advice from both accountants and solicitors in my opinion as I assume you dont have american citizenship and so there could potentially be many complex laws to deal with as well as a simple how would tax be calculated.

    For the second a solicitor would be the people to draw up a contract but you may get on very ropy ground depending on the rules of your friend on staff trading. You would be best in getting your solicitor to not purely draw up a contract but advise on how enforcable it would be if there was an issue.
     
  4. General Skanky

    General Skanky
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  5. oreoboy13

    oreoboy13
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    thank you for your advice - an accountant in LA is now very busy.
     

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