The Harry and Megan show
Re: The Harry and Megan show
For those that missed this first time round
- ExSp33db1rd
- Chief Pilot
- Posts: 3237
- Joined: Sat Sep 12, 2015 1:51 am
- Location: Lesser Antipode
- Gender:
- Age: 89
Re: The Harry and Megan show
and should her Non-resident Alien Spouse ( in the eyes of the US IRS ) considered domiciled in the UK at the time, unfortunately die, she will have to pay UK Inheritance Tax on his Estate.As a US citizen she's liable to US taxes on her income.
-
- Chief Pilot
- Posts: 3804
- Joined: Sat Aug 29, 2015 12:54 am
- Location: Michigan/Quintana Roo
- Gender:
- Age: 72
Re: The Harry and Megan show
Hmm. Do either of them realize what they're getting into?
Re: The Harry and Megan show
The UK and US do have a tax treaty though, so if she's paying UK taxes then she can offset that against any US taxes. As the UK tends to have higher rates than the US, that tends to mean that she may avoid US taxes on it all.and should her Non-resident Alien Spouse ( in the eyes of the US IRS ) considered domiciled in the UK at the time, unfortunately die, she will have to pay UK Inheritance Tax on his Estate.As a US citizen she's liable to US taxes on her income.
Also, I thought that transfers to the survivor of a married couple was exempt from tax. The tax people get their share if there's anything left when the second person dies. Her offspring will be considered US citizens too, if she is still one when they are born.
- ExSp33db1rd
- Chief Pilot
- Posts: 3237
- Joined: Sat Sep 12, 2015 1:51 am
- Location: Lesser Antipode
- Gender:
- Age: 89
Re: The Harry and Megan show
Not necessarily if they are of different "domicile" - which is different to Residency, i.e. Mrs. ExS ( a US Citizen as well as New Zealand Citizen ) will not be able to claim the full UK marital deduction if I die first and am "considered" domicled in the UK, which is possible even tho' I haven't "resided" there for over 30 years, and don't now. ( I "think" she will be limited to receiving only £155k ) UK Tax narks will not determine my "Domicile",which I would like to be New Zealand, for both of us and where we have lived for 25 years, until after I die, they positively refuse to make a decision now. Equally, should she die first, and the US determine that her domicile is the USA, I will not allow me the full marital deduction either because I am considered a Foreign Alien. ( thinks ... should I go to Hollywood and make fortune selling my "story" , i.e. just got in from Mars ? )I thought that transfers to the survivor of a married couple was exempt from tax.
Double taxation treaties only ensure that you pay the maximum of the two countries concerned, and occasionally to both of them. Mrs. ExS spends 24/7 x 365 studying US tax legislation, and gets infuriated when told to " just employ an accountant". No accountant consulted to date knows even half of it, she spends their fees educating them. Unless one has been actively involved in precisely the same situation they just don't care, and don't understand.
Nb. This issue of Domicile has been thrashed through before, I'm not starting it again.
- Ex-Ascot
- Test Pilot
- Posts: 13145
- Joined: Mon Aug 24, 2015 7:16 am
- Location: Botswana but sometimes Greece
- Gender:
- Age: 68
Re: The Harry and Megan show
ExSp33db1rd wrote: ↑Sat Dec 08, 2018 2:43 amNot for discussion but a statement: Our UK lawyer says that we are domicile in Botswana - we live here 9 months a year and are residents. We have property and possessions here. We have two properties (together) and possessions in Greece. We have offshore funds and a bank account in the UK. Don't ask me why but we need two wills each. One for Greece and one for everything else. I think it is because we are domicile here but British citizens so everything there comes under Botswana legislation. How the hell they are going to know about our off shore funds I have no idea. If we croak intestate the Bots Government get everything (if they can find it) apart from the Greek property.
Nb. This issue of Domicile has been thrashed through before, I'm not starting it again.
Going back to HRH and his wife's probable divorce, surely she will have been made to sign a prenuptial agreement. Like,' you don't get your mits on anything that belongs or belonged to my folk or dosh acquired by various means as a result of being a Prince of the Royal Household'.
'Yes, Madam, I am drunk, but in the morning I shall be sober and you will still be ugly.' Sir Winston Churchill.
- ian16th
- Chief Pilot
- Posts: 10029
- Joined: Fri Aug 28, 2015 9:35 am
- Location: KZN South Coast with the bananas
- Gender:
- Age: 87
Re: The Harry and Megan show
Ex A,Ex-Ascot wrote: ↑Sat Dec 08, 2018 7:53 amExSp33db1rd wrote: ↑Sat Dec 08, 2018 2:43 amNot for discussion but a statement: Our UK lawyer says that we are domicile in Botswana
Nb. This issue of Domicile has been thrashed through before, I'm not starting it again.
Unfortunately what your lawyer says is 'advice', what the Tax Man decides is the Law.
This is why we have absolutely zero assets onshore UK.
Cynicism improves with age
- Undried Plum
- Chief Pilot
- Posts: 7308
- Joined: Sun Jul 22, 2018 8:45 pm
- Location: 56°N 4°W
Re: The Harry and Megan show
Eeny, Meeny, Miny, Mo,
Catch a nigger by the toe,
If she won't work then let her go;
Skidum, skidee, skidoo.
But when you get money, your little bride
Will surely find out where you hide,
So there's the door and when I count four,
Then out goes you.
Re: The Harry and Megan show
Ooohhh, Plum! You'll be in trubble for that. Watch out for falling snowflakes.
Re: The Harry and Megan show
The Royals must have some clever arrangements, otherwise whenever one dies there would be decimation of their assets.
On a different track, doesn't divorce usually decide who has brought what and what contribution to the marriage?
- Undried Plum
- Chief Pilot
- Posts: 7308
- Joined: Sun Jul 22, 2018 8:45 pm
- Location: 56°N 4°W
Re: The Harry and Megan show
No. Not even in the UK.
John Cleese said it well, about one of his several divorces:
'The last time I paid for sex it cost me $20 million!'
'Apparently I got off lightly because my lawyer points out how much more I would have had to pay my ex-wife had she contributed anything to the relationship, such as if we had had children, or even a two-way conversation.'
- ExSp33db1rd
- Chief Pilot
- Posts: 3237
- Joined: Sat Sep 12, 2015 1:51 am
- Location: Lesser Antipode
- Gender:
- Age: 89
Re: The Harry and Megan show
and the "advice" is usually only a matter of their interpretation, and is often wrong, which is why Mrs. ExS used to have to pay their fee to prove them wrong.Unfortunately what your lawyer says is 'advice', what the Tax Man decides is the Law.
Not helped by USA guys refusing to speak to her because .... you don't have a USA address, call our South Pacific Office, they will deal with you, so ..... she tries to explain to some Spanish accented call centre in the Phillipines problems relating to US income whilst resident in NZ. Bring back the Monty Python. Not funny, Dubbya's FATCA ( Fat Cats ) legislation was supposed to catch the Bad Guys, not the ( mostly ! ) law abiding.
- Ex-Ascot
- Test Pilot
- Posts: 13145
- Joined: Mon Aug 24, 2015 7:16 am
- Location: Botswana but sometimes Greece
- Gender:
- Age: 68
Re: The Harry and Megan show
To lose one aide is unfortunate to lose two is careless.
'er Personal Assistant gorn, 'er Private Secretary going. Who will be next? HRH Prince Harry?
Also 'er Pop has been bleating to the press again.
'er Personal Assistant gorn, 'er Private Secretary going. Who will be next? HRH Prince Harry?
Also 'er Pop has been bleating to the press again.
'Yes, Madam, I am drunk, but in the morning I shall be sober and you will still be ugly.' Sir Winston Churchill.
Re: The Harry and Megan show
Obviously trying to match the Chump's dismissal rate - well, this one is even called 'Cohen' - will she 'flip'?
Re: The Harry and Megan show
I think the Royal Family get around it by making sure it's all in a trust fund for future generations. The Queen has said in the past that she considers her self the custodian of all the stuff for the nation. If Harry doesn't own it then it's not up for grabs.
- Ex-Ascot
- Test Pilot
- Posts: 13145
- Joined: Mon Aug 24, 2015 7:16 am
- Location: Botswana but sometimes Greece
- Gender:
- Age: 68
Re: The Harry and Megan show
Tough ***** old girl. You wanted to get on board. Get out if you don't like it.An insider told Us Weekly the pregnant duchess is finding it 'frustrating and stressful' having 'no voice' - and finds the constraints of royal life 'debilitating'.
'Yes, Madam, I am drunk, but in the morning I shall be sober and you will still be ugly.' Sir Winston Churchill.
- Undried Plum
- Chief Pilot
- Posts: 7308
- Joined: Sun Jul 22, 2018 8:45 pm
- Location: 56°N 4°W
Re: The Harry and Megan show
llondel wrote: ↑Thu Dec 13, 2018 10:10 pmI think the Royal Family get around it by making sure it's all in a trust fund for future generations. The Queen has said in the past that she considers her self the custodian of all the stuff for the nation. If Harry doesn't own it then it's not up for grabs.
Most of the "stuff" belongs to the Crown, not the Monarch. By definition, the Crown doesn't have to pay tax.
There are some exceptions though. Buck House belongs to the Crown, but Balmoral does not. Balmoral is passed down the generations, specifically to the monarch. When the Nazi guy abdicated, for example, he lost all rights to Balmoral.
Nearby Birkhall is different again. It used to be rented by the Queen Mother. When she died Charles bought it outright. What happens to its ownership after he pops his clogs will be a matter which has certainly already been resolved by the lawyers who drafted his will. I have no doubt that it will be passed to William. If William predeceases his father things could get awkward, especially if it then goes to Harry.
- Ex-Ascot
- Test Pilot
- Posts: 13145
- Joined: Mon Aug 24, 2015 7:16 am
- Location: Botswana but sometimes Greece
- Gender:
- Age: 68
Re: The Harry and Megan show
Royal Christmas cards revealed today. Some very charming ones especially the Duke and Duchess of Cambridge and family. Why was this one of the other senior Royals taken from behind and interestingly in BLACK and WHITE? Answers on a post card please.
'Yes, Madam, I am drunk, but in the morning I shall be sober and you will still be ugly.' Sir Winston Churchill.
- ian16th
- Chief Pilot
- Posts: 10029
- Joined: Fri Aug 28, 2015 9:35 am
- Location: KZN South Coast with the bananas
- Gender:
- Age: 87
Re: The Harry and Megan show
Some adviser informed them that it was 'Arty', or maybe 'Avant Garde'
Cynicism improves with age
- Ex-Ascot
- Test Pilot
- Posts: 13145
- Joined: Mon Aug 24, 2015 7:16 am
- Location: Botswana but sometimes Greece
- Gender:
- Age: 68
Re: The Harry and Megan show
Yes indeed Ian 'Avant Garde' :
Bang goes my MVO but there are standards. They have been compromised.
In other words, 'er trying to buck Royal protocol and HRH giving into 'er. I have great respect for HRH, military service and all, but he has made a big mistake here.....favouring or introducing new and experimental ideas and methods
Bang goes my MVO but there are standards. They have been compromised.
'Yes, Madam, I am drunk, but in the morning I shall be sober and you will still be ugly.' Sir Winston Churchill.