And finally…

first_imgIf you are thinking of fleeing the confused state of Great Britain, consider this:Hong Kong, Luxembourg and Sydney are named the most favourable tax-efficient locations for the quality of life on offer according to a report by Knight Frank. The Global Lifestyle Review 2016 analyses the lifestyle available in 26 favourable tax locations around the world for people at three different stages of life. Hong Kong is named the best place to live for an entrepreneur*, Luxembourg tops the list for a family and Sydney is the number one location for a retired couple.Working with BDO, the national accountancy and business advisory firm who provided a list of 26 top locations which their clients consider when looking to move to a more tax-efficient jurisdiction, Knight Frank has examined the lifestyle factors that may motivate clients at different stages of their lives before purchasing a property. Taking into consideration a variety of factors, including but not limited to personal safety, political risk, quality of life, education, cost of healthcare and available leisure pursuits, Knight Frank has weighted these lifestyle elements and identified the top ten places to live for an entrepreneur, family and retired couple.Alex Koch de Gooreynd, partner and head of Knight Frank’s Swiss network says, “Many private individuals approach Knight Frank for advice on relocating their business and family overseas. Their wealth managers or taxation advisers can inform them of the most tax-efficient locations, but they rarely take into account the lifestyle factors that will make the move a successful one for more than simply fiscal reasons. Within this report, we have analysed the lifestyle factors which motivate clients to purchase property and have identified locations which are best suited to people at three different stages of their lives. Whatever stage you are at – whether an entrepreneur who wants airport access and entertainment on tap, a family whose priorities are good schools and outdoor activities, or a retiree for whom security, healthcare and a likeminded community top the list – it’s crucial to understand the day to day life of a destination.”Whilst Hong Kong, Luxembourg and Sydney top the rankings – popular tax-efficient locations such as Dubai, Geneva and London still make the top-ten list for both an entrepreneur and a family. Monaco is also amongst the top-ten winners offering excellent quality of life for entrepreneurs and retired couples.Richard Montague, tax partner, BDO says, “When choosing a destination to live, individuals often want to balance the lifestyle and economic factors, ensuring that their financial affairs and global assets are structured in an efficient manner. Objectives mainly focus on ensuring long-term asset preservation whilst complying with their global tax obligations. An understanding of the tax regime in the country of choice is key. Most countries have some form of indirect taxation, such as Value Added Tax (VAT) or property transfer taxes, and will also apply direct tax on income and profits on the disposal of assets. Other countries will seek to tax capital gifted or inherited, or apply an annual tax on net wealth. Some countries even seek to apply an exit tax when individuals break tax residence. There are many pitfalls for the unwary.”Knight Frank research Hong Kong Luxembourg Sydney tax-efficient locations The Global Lifestyle Review 2016 July 8, 2016The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Home » News » Housing Market » And finally… previous nextHousing MarketAnd finally…Fed up with Brexit? Fed up with political machinations? Fed up because the football and tennis is over, take a look at Knight Frank’s latest research.The Negotiator8th July 20160647 Viewslast_img read more

McIlroy admits 18th hole gamble

first_imgRory McIlroy has revealed how he gambled on rivals Phil Mickelson and Rickie Fowler not making an eagle in a frantic finish to the US PGA Championship on Sunday. Press Association With daylight fading fast following a rain delay of almost two hours, Mickelson and Fowler stood aside on the 18th hole to allow the final group of McIlroy and Bernd Wiesberger to tee off. That ensured they would have the option to finish the hole and is common practice, but what was not so common was McIlroy hitting his approach to the 18th as well before Mickelson and Fowler attempted to catch him with an eagle three on the par five. center_img “We were cool with hitting the tee shot,” Fowler said. “We weren’t expecting the approach shots. It changes things a little bit. Obviously, there is no waiting. Phil and I waited on the tee for a good amount of time and had to hit tee shots. “In a way, they [McIlroy and Wiesberger] never got out of rhythm as far as hitting the golf shots.” Mickelson, who came agonisingly close to holing his pitch, stopped short of criticising the situation in a television interview but was clearly agitated on the green. “It didn’t affect the outcome I think,” the left-hander said. “It’s not what we normally do but it’s not a big deal. It’s a courteous thing to let the guys tee off in case they blow the horn. It gave everyone a chance to finish just in the nick of time.” McIlroy was quick to acknowledge the act of sportsmanship after hitting his second shot into a greenside bunker and securing the par which sealed a one-shot win over Mickelson and a second major title in four weeks. “They could have just left us on the tee box there and just play normally,” McIlroy said. “But they showed a lot of class and a lot of sportsmanship doing that. I thanked Rickie and Phil in the scorer’s area and reiterated what I said in my speech out there on the 18th green. “At that point in time, I had a two-shot lead. I saw both their second shots and I saw that they had finished down on the bottom right side of the green. I knew it was tough. “I know Phil came awfully close to holing that third shot but at the same time, I knew par was probably going to be good enough, and if I had to and try and make birdie with that third shot out of the bunker, I would have been a little more aggressive with it and obviously tried to get it up on the top level and try and make a four. “But I just sort of weighed up the probability of everything and I was 75, 80 per cent certain that those guys were not going to make eagle. So it made my job a little easier.” last_img read more