Hi
This has been a great sub and lots of learning and hoping for more
I am not yet ready to Retire don't think but want to plan for it.
I wanted to see what strategy people have used where they are on ILR and and have not opted for UK citizenship, but are from a country that doesn't accept dual citizenship.
M(38)-£240000 (F39) - £80000
2 kids(6 & 8)
Some finances :
Properties Abroad:
- A 4BHK flat in a tech city - so opportunity to rent it . Could be valued at
- (£200000)
- A 4 Bed Home - fully paid for (£200000)
- Parcels of land - approx £200000
UK properties and finance
- UK Home -£555,000 mortgage ( £300000 equity)
- UK rental - £192,000 interest only mortgage, £1600 pcm rent, £4000 maintenance
- Pension - £285000
- RSU- £410000(vested) - FAANG
- S&S ISA - £36000 & £19000
From talking to a couple of people UK taxes the whole of the wealth no matter where they hold investments . Not sure how true this is but seems to be what G tells me.
Do you think consolidation is the way to go (i.e) bring it all here or take it out all outside ?
or Is there an alternative /middle ground.
I was a bit late into the S&S isa , only started a few years ago but didn't fully realise the potential until recently wrt to the taxation.
Currently maxing out my pensions as I still have not maxed out the previous years.
Thanks in advance.