Delaunay Wealth provide a fully audited and holistic financial planning service to a wide range of clients. From business owners to senior executives and those who are actively retired, our work is focused on making the complex simple and building long-term relationships.
This is the first in a series of case studies, highlighting some of the work we’ve done.
Meet Shaun and Jane, a couple planning their return to the UK
After many years living and working abroad, Shaun and Jane had multiple pools of investments and assets scattered between Hong Kong, Singapore, Tokyo, and the US.
Following a recommendation from their accountant, Shaun and Jane met Lloyd. Very quickly, they both understood just how valuable his help would be as they worked to bring their assets onshore and into a single pool.
Action
Bringing a large pool of assets together can often be complex.
In this case, Shaun and Jane had significant assets spread between multiple jurisdictions. So, the first step was to understand exactly what they had and where.
With this firmed up, we explained all the possible options and made our recommendations, devising a plan that minimised taxation and made the most of tax-efficient opportunities.
We also factored in timing.
And reviewed which investments had appreciated in value, and any that had made a loss.
To realise gains before Shaun and Jane returned to the UK, we ensured that any investments that had increased in value were sold before they made the move. Any that had made a loss could be held, allowing the option to offset the losses against tax after the move.
Watch: Shaun and Jane tell their story
With so much to consider as the couple prepared to return to the UK, we were just one of a team of experts offering specialist advice.
To ensure a smooth transition, we liaised with the rest of the team throughout the process.
As Shaun said: “Because of the complexity of the different geographies that we’ve been living in and investing in, we’ve needed to have tax advisers in each of the locations typically, as well as a tax adviser here in the UK. And then we have financial advisers, or have had financial advisers, in each of the territories as well. And so, it’s also important that those guys can all work together in bringing our assets onshore. And that worked very well as part of this process.”
We kept Shaun and Jane up to date with regular weekly updates about where things were at, which was appreciated. “The regular contact as to where we are in the process have all been very useful and give us a great deal of confidence that we’re moving in the right direction.”
Result
Following a long and complicated process to bring all the accumulated assets onshore, 18 months on, Shaun and Jane are now settled back in the UK.
“Working with Lloyd gives us confidence about our financial future… We’ve already recommended Lloyd to a friend that we met while living overseas and would happily do so to others as well.”
Key takeaways
Returning to the UK after living and working overseas often requires smart preparation.
To avoid any nasty surprises from HMRC, it’s wise to plan your finances well ahead of a move.
Because many financial planners and advisers in the UK don’t understand the nuances of offshore products and investments, this can be more difficult.
With so much to consider, it’s important to work with someone who understands the financial systems in both the UK and the country you’re leaving. Getting the right advice is crucial to ensure your clients don’t fall foul of the more complex investment rules or end up paying unnecessary tax.
Get in touch
If you have clients who are considering a return to the UK, please get in touch.
We can help them understand their full financial picture, allowing them to return with confidence, knowing that their wealth will be protected.
Email mail@delaunaywealth.com or call us on 0345 505 3500.
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Please note
This article is for general information only and does not constitute advice. The information is aimed at retail clients only.
All information is correct at the time of writing and is subject to change in the future.
Please do not act based on anything you might read in this article. All contents are based on our understanding of HMRC legislation, which is subject to change.
The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.
Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.
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