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How to organize your finances Richard Blanca’s uncle had been a very wealthy man, and when he died, Richard inherited a lot of money. This seemed like very good news until he sat down with his accountant and tried to understand how his finances were organised. It appeared that his uncle had large shareholdings in several small businesses. "Let me give you one example" said his accountant. "You now own 75% of a successful computer software company based in Birmingham in the UK. But this doesn’t mean it’s a British company. In fact, its head office is registered in the British Virgin Islands on the other side of the world. And I’m afraid the shares in the company aren’t owned directly by you; instead they’re held on your behalf by a shell company based in Hong Kong. By the way, you own 100% of that." "Just a minute" said Richard, "this is giving me a headache. Can’t I just have the cash?" "I wouldn’t advise that" said the accountant, "it wouldn’t be tax-efficient." Richard shook his head. "Why does it have to be so complicated?"
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