British Gold Coins and Capital Gains Tax

British Gold Sovereign Coin
The British Sovereign is one of the most widely traded gold coins in the World. Besides the intrinsic gold value that these coins hold, their appeal stretches beyond their weight in gold due to exemption from capital gains tax. The Full Sovereign weighs 7.9g, with the Half Sovereign weighing 3.9g, and the much more recent Quarter Sovereign weighing 1.9g. All Sovereigns are struck in .916 2/3 fineness, more commonly known as 22ct, and have been Minted by either the Royal Mint in London, or a royally sanctioned Mint in Australia, India, Canada or South America. Regardless of the country in which these coin have been minted, they all carry the British Design, and therefore remain legal tender, with a nominal value of one pound sterling. Needless to say the market value of these coins as an investment is significantly higher than their £1 face value.

Crisis in Europe - Austerity Vs Growth: Is There Really a Choice?

Well I'm sure you've already worked it out yourself but you just can't avoid that question, nowhere to hide and nowhere to run. We are pouring fortunes we don't have into trying to keep several countries afloat in Europe while at the same time suffering all the pains of cut backs.

One of the big problems is that a sizeable portion of the general public don't seem to realise that austerity isn't a political doctrine or a strategy; unfortunately it's a fact of life. Given that there isn't any money left in the bank it seems pointless endlessly discussing how we should spend what we haven't got. France and Greece have now both elected political parties who espouse a "go for growth" policy, but however popular it may be with their electorate there's a huge problem with this political dogma. The elephant in the room being the fact that we haven't got the money to invest, it just isn't possible for everyone to borrow the money to give it a go. 

A Look at the Changes To The Director Penalty Notice Legislation

The Australian Treasury department has made the results of the public consultation process public with the issue of a new Exposure Draft detailing proposed changes to the director penalty notice regime.

You may keep in mind that the government proposed changes to the Director Penalty Notice legislation in last year's budget. The first draft was put forward in June 2011 but was widely condemned by directors and liquidators for being too wide reaching. That draft was scheduled to go before parliament in November 2011 but it was withdrawn for further industry consultation.

They summarise the changes as follows:

1. Expanding the director penalty regime to superannuation guarantee amounts.

Is Offshore Banking Dead for Americans?

Offshore banking and offshore asset protection provides individuals with ways to manage their companies and finances as well as assets while still maintaining a fair level of privacy. Furthermore, these strategies ensure that individuals do not lose all their hard-earned assets in legal settlements where their investments are targeted, such as malpractice law suits and divorce cases. Also, the banking system in the United States of America is in a perpetual state of havoc and the law does not think twice about freezing an account whose owner is involved in a legal tussle. It is also for this reason that more and more Americans opted for offshore banking to protect their finances and to provide them with funds for those rainy days.

However, this perfectly legal strategy has for years been used by individuals who take part in illegal activity or who would like to escape the long arm of the revenue and tax collection service. Therefore, most countries have lost millions in tax revenue due to such unscrupulous individuals who would like to evade tax by opening offshore companies. 

Offshore Asset Protection for the Internet Entrepreneur

The internet has revolutionized every single aspect of our lives, especially asset protection as it has removed geographical barriers and made it possible for individuals to control their assets from wherever they are in the world. However, with this promise, there are some difficulties because the assets in an internet enterprise are not tangible like real estate or companies but exist in soft form. Most internet entrepreneurs work very hard to build an empire which they link up to a Limited Liability Company with themselves as the only member, and a single PayPal or Moneybookers business account. This is very dangerous when it comes to asset protection because the asset clearly marks a path back to you as the founder, creator and sole owner of the business.

Since an internet entrepreneur is also running a business, they risk losing everything in a lawsuit and it is important to take preventive measures in order to ensure that their business is intact even after they suffer such a misfortune.

How to Develop a Multi-Flag Strategy for Privacy and Asset Protection

Asset protection is like an asset insurance scheme that is meant to keep your assets and investments from being included in legal settlements. This is so as to ensure that no one sues for all your hard-earned assets, and they can be off the record by not being linked directly to you. One of the best strategies for asset protection is the development of a 6-flag strategy which includes the principles of geo-arbitrage. These usually include a second passport, business in a jurisdiction that charges little or no tax, banking in a jurisdiction that offers you privacy, investing in a centre that favours money management, residing in a jurisdiction that is tax friendly and generally playing the field in countries where you like staying.

All these seem like a lot to take in for the novice, but with time, you will realize that the steps are really simple and straightforward. There are several reasons why individuals should have a second passport, especially if they are US citizens.