Independent financial advice in London
September 13, 2014 12:21 AM Subscribe
I've inherited from a family member. Not a house or enough actual cash to buy a house outright, but enough to get on the property ladder. I'm awful with money (amongst other things). It's time to get professional advice in London. Can you recommend someone? Or tell me how to find someone?
A few years ago a grandparent in the US died and left me a good chunk in the form of stocks. Having watched several other people come into houses and money, then piss it all away in a few years I decided to just sit on it for awhile.
So...I need someone who can help me work out what to do with it instead of just letting it sit there appreciating. Someone who can help me untangle the mess of double-taxation. It looks to me like if I sell anything, I get taxed in both countries but get credit towards next year's US taxes. Then if I don't actually have any US-taxable-income the following year I've effectively been double-taxed.
I know I've bungled my taxes over the past 2-3 years, and probably need a little help writing a mea-culpa letter to the authorities saying "I think I owe you a little more (about a month's wages), please don't give me one of those horrible audits where you soak me for as much as you can."
What I'd really like to do is sell off some, put a larger than normal deposit down on a 2BR flat with a mortgage that actually allows for a lodger (instead of sneaking a lodger in like a lot of people do). But it looks like if I do that right now, I lose a lot in taxes. But if I sell over the course of a few years (to actually avoid double-taxation), I'm still paying rent.
So I need someone who can help me untangle the mess (did I mention I'm horrible with money and all financial-jargon?), and either help me in finding an ideal mortgage or point me to a mortgage broker to work with. And probably draw up a will. Ideally in London.
Any recommendations? Or tips on how to choose someone myself?
A few years ago a grandparent in the US died and left me a good chunk in the form of stocks. Having watched several other people come into houses and money, then piss it all away in a few years I decided to just sit on it for awhile.
So...I need someone who can help me work out what to do with it instead of just letting it sit there appreciating. Someone who can help me untangle the mess of double-taxation. It looks to me like if I sell anything, I get taxed in both countries but get credit towards next year's US taxes. Then if I don't actually have any US-taxable-income the following year I've effectively been double-taxed.
I know I've bungled my taxes over the past 2-3 years, and probably need a little help writing a mea-culpa letter to the authorities saying "I think I owe you a little more (about a month's wages), please don't give me one of those horrible audits where you soak me for as much as you can."
What I'd really like to do is sell off some, put a larger than normal deposit down on a 2BR flat with a mortgage that actually allows for a lodger (instead of sneaking a lodger in like a lot of people do). But it looks like if I do that right now, I lose a lot in taxes. But if I sell over the course of a few years (to actually avoid double-taxation), I'm still paying rent.
So I need someone who can help me untangle the mess (did I mention I'm horrible with money and all financial-jargon?), and either help me in finding an ideal mortgage or point me to a mortgage broker to work with. And probably draw up a will. Ideally in London.
Any recommendations? Or tips on how to choose someone myself?
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posted by Segundus at 2:31 AM on September 13, 2014