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Author Topic: Powers Residency  (Read 2579 times)
FreddySTFC!


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« on: Sunday, May 21, 2017, 12:24:14 »

I'm no expert on residency issues but I have been wondering lately about Powers decison to live in Switzerland. Surely he must be making a fair amount of money from his other business interests for him to justify living abroad. What would people consider to be the amount of money you would need to be making to move abroad for tax purposes?
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theakston2k


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« Reply #1 on: Sunday, May 21, 2017, 13:03:13 »

Less than you might think. With low cost airlines and what not 20 or 30 flights back to the U.K. and back could only cost around 5k so the tax benefits would more than pay for travel expenses.
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bamboonoshoe


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« Reply #2 on: Sunday, May 21, 2017, 13:41:35 »

You considering a move Freddy?
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FreddySTFC!


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« Reply #3 on: Sunday, May 21, 2017, 14:03:56 »

Less than you might think. With low cost airlines and what not 20 or 30 flights back to the U.K. and back could only cost around 5k so the tax benefits would more than pay for travel expenses.
You've got your property costs in Switzerland to think about aswell, be that rent or a mortgage. If it was that cheap surely everybody would be at it?
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FreddySTFC!


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« Reply #4 on: Sunday, May 21, 2017, 14:04:20 »

You considering a move Freddy?
Unfortunately not!!
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theakston2k


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« Reply #5 on: Sunday, May 21, 2017, 14:27:19 »

You've got your property costs in Switzerland to think about aswell, be that rent or a mortgage. If it was that cheap surely everybody would be at it?
If it wasn't for the restriction on time you can spend in the UK a lot more would be at it. If you're worth a couple of million you could easily settle down in Switzerland.
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Bogus Dave
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« Reply #6 on: Sunday, May 21, 2017, 17:57:22 »

Not that I disbelieve him in the slightest, but has it ever been proven that he *does* live in Switzerland?
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« Reply #7 on: Sunday, May 21, 2017, 18:07:40 »

Got a house in Brize Norton i think
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garethgillman


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« Reply #8 on: Sunday, May 21, 2017, 18:45:30 »

Not that I disbelieve him in the slightest, but has it ever been proven that he *does* live in Switzerland?

If you wanted to find out, you could do it but is it worth the hassle and time? You would need to find which region / town he lives in then look at the property records..... so it's possible but probably not worth it.
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FreddySTFC!


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« Reply #9 on: Sunday, May 21, 2017, 18:53:06 »

If it wasn't for the restriction on time you can spend in the UK a lot more would be at it. If you're worth a couple of million you could easily settle down in Switzerland.
It's not just that though, it seems like an awful lot of hassle to save on a bit of tax. There must be so much red tape involved. You've either got to be incredibly tight or paying an awful lot of tax in this country to make it worthwhile! Does anybody know what his business interests outside of STFC are these days?
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Audrey's Bellend


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« Reply #10 on: Sunday, May 21, 2017, 18:58:28 »

It's not just a tax haven - they are also very discrete as to asking where the money comes from. Some people value their financial privacy highly.
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horlock07


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« Reply #11 on: Monday, May 22, 2017, 09:25:47 »

When I saw the title I assumed he had got a DJ'ing gig to raise some income?
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pauld


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« Reply #12 on: Monday, May 22, 2017, 09:54:02 »

When I saw the title I assumed he had got a DJ'ing gig to raise some income?
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garethgillman


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« Reply #13 on: Monday, May 22, 2017, 10:33:23 »

It's not just that though, it seems like an awful lot of hassle to save on a bit of tax. There must be so much red tape involved. You've either got to be incredibly tight or paying an awful lot of tax in this country to make it worthwhile! Does anybody know what his business interests outside of STFC are these days?

1) Sports magazine (can't remember name but will come to me)
2) Horses
3) Property

Probably does a lot more but those are the most public

Money isn't always the main reason for moving abroad but will be a factor, the privacy can be a reason but he has been a Swiss resident for many years.
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otanswell


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« Reply #14 on: Monday, May 22, 2017, 11:16:09 »

Not that I disbelieve him in the slightest, but has it ever been proven that he *does* live in Switzerland?

This.
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