Welcome to Raymond James, Golders Green
Raymond James, Golders Green has been providing expert wealth management and financial planning services for over 20 years. We are seasoned experts in providing long- term financial planning advice for those making Aliyah, serving members of the Jewish community from across the UK.
With both investment management and financial planning services available under one roof, we’re able to take a holistic approach to your financial needs, no matter how complex.
All our clients benefit from a highly personalised service and bespoke advice.
Inflation: The Dog that Barked In The Night?
Sixty years ago, Marshall Nirenberg and Henrich Matthaei began the process of cracking the genetic code. Thanks to their persistence and resilience, today’s scientists developed effective mRNA-based vaccines in record time – saving millions of lives from COVID-19. With the darkest days of the pandemic behind us, investors can also appreciate the resilience of the economy and financial markets and the hopeful prospect of brighter days ahead.
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Commonly asked questions about Aliyah
Olim have a ten-year tax break on non-Israel sourced income and capital gains. Additionally, Israel does not have inheritance tax. On the UK side, the tax rules are much more complex when it comes to migrating abroad. Tax is generally applied on UK situated assets, even if the owner of those assets lives abroad. However, with some smart financial planning, we can often minimise or remove the tax bill completely for our clients.
The law on who is considered a UK tax resident has changed and there are now very specific rules that define residency. Spending too much time or having too many ties in the UK could cause you to become a UK resident even after making Aliyah – and this might mean you are subject to UK tax on your worldwide assets.
This area is complex – domicile is broadly defined as ‘where you call home’ and if you are considered domiciled in the UK you will still be subject to inheritance tax on your worldwide assets. The aim for UK Olim is therefore to shed UK domicile status.
We advocate that people making Aliyah should diversify their portfolios away from Pound Sterling. The financial uncertainty of spending money in a different currency from that in which you are earning is not a factor which should be downplayed.
Perhaps the greatest danger to people’s savings is inflation. It creeps in gradually and often escapes unnoticed until it’s too late. An inflation rate of 4% would mean that your money would almost half in value over the course of 10 years. Assets that provide growth are therefore essential.
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Other considerations to make ahead of Aliyah
Inflation
Changes to inflation can erode the purchasing power of your hard-earned money. Take actions now to protect yourself in the future.
Other practical considerations
The financial aspect of Aliyah is just one area Olim may need advice on. Consider these other additional factors.
