BUSINESS & INVESTMENT BY TITUS WOLE ODEDUN CONSULTANT IN ACCIDENTS, TRAUMA & AESTHETICS SURGERY AND ORTHOPAED

1. BUSINESS & INVESTMENT BY TITUS WOLE ODEDUN CONSULTANT IN ACCIDENTS, TRAUMA & AESTHETICS SURGERY AND ORTHOPAEDICS LONDON MEDICAL & RESEARCH CENTRE 142-146 HARLEY STREET LONDON W1G7LD

2. WHY BUSINESS WHY INVESTMENT

3. Life expectancy is increasing • Pensionable age increasing • Actual value of pension decreasing • Overall tax burden increasing • Cost of living increasing • Increasingly difficult to educate children properly on current pay scales • Increasingly difficult to acquire decent home on current pay scales • There is fun in business & investment

4. BUSINESS Starting a small business • Set up cost • Type - Sole Trader Partnership Limited Company • Advantages/Disadvantages of each (fig 1) (including taxation issues) • Raising Capital

5. When will Bank rate rise? CEBRQ1 2016 Capital Economics Q1 2015 John CharcolQ1 2014 Deutsche Bank Q4 2013 Item Club Q1 2013 Economic Perspectives Q4 2012

6. BUSINESS (cont’d) • Book-keeping • Accountancy • VAT - Threshold Advantage Disadvantage • HMRC

7. BUSINESS (cont’d) ESTABLISHED BUSINESS • PURCHASING • SELLING/FRANCHISING • FLOATATION - Facebook Lastminute.com Confused.com

8. INVESTMENT • CHILDREN EDUCATION EDUCATION EDUCATION

9. INVESTMENT (cont’d) B. OTHER • Real Estate - Land Residential Commercial Property Buy to let

10. INVESTMENT (Cont’d) • Banks & Building Societies ISA’s • City Based - Equities Forex Commodities Bonds • Forestry • Fine Arts • Vintage Wines • Antique Furniture

13. BALANCED INVESTMENT PORTFOLIO Commercial Property 45%

14. CURRENT STAMP DUTY ONPROPERTY PURCHASE £125,000 1% (1ST TIME BUYER) 0% £250,000 3% £500,000 4% £1,000,000 5%

15. INVESTMENT (cont’d) • THOROUGHBRED (RACE) HORSES • CARS - VETERAN VINTAGE CLASSIC MODERN

16. INVESTMENT/BUSINESS IDEAS • LOOK FOR A GAP IN THE OPEN MARKET PLACE E.G. PORTABLE DEFIBRILLATOR INTERNATIONAL NURSING HOMES RETIREMENT ABROAD SOLAR POWER

17. INVESTMENT/BUSINESS IDEAS(Contd’d) Business with little capital requirement: Google Facebook Twitter Bebo Lastminute.com Confused.com

18. WHERE TO RETIRE USA – A pricey but popular retirement destination Cost/Requirements of entry - EB-5 Immigrant Investor visa requires £314,000 – £627,000. Monthly living costs, food drink - £950 pm. Bottle of wine £6. Meal out for two £25. Average 2 bed house price - £115,000. Average return air fare - £340. Income tax rates – varies between states. No income tax and low property and sales taxes in eight states inc Florida. Medical cover: £300-£500 pm. Dental £22-32 pm. Reciprocal state pension: No

19. WHERE TO RETIRE IRELAND – No language barrier and simple entry procedure Cost/Requirements of entry – Nil. EU citizens have right of residence Monthly living costs, food & drink - £1,500pm for reasonable standard of living. Bottle of wine £7.50. Meal out for two £45. Average 2-bed house price - £190,000. Average return air fare - £40-75. Income tax rates – Residents pay tax on their world-wide investments including pensions, both state and private. Healthcare – The EHIC entitles you to free basic healthcare. Reciprocal state pension: Yes

20. WHERE TO RETIRE SPAIN - The most popular destination, due to climate and living costs. Cost/Requirements of entry – Nil. EU citizens have right of residence. Monthly living costs, food & drink - £1,300pm. Bottle of wine £3.50. Meal out for two £35-40. Average 2-bed house price £150,000. Average return air fare - £70. Income tax rates – Personal allowance of £2,200 – 3,400, above which tax is applied at 24-43%. Tax rates on an annuity 4-5%. Healthcare - The EHIC entitles you to free basic healthcare Reciprocal state pension: Yes

21. WHERE TO RETIRE MALTA - Low tax rates and year-round heat make this a top spot. Cost/Requirements of entry – Nil. EU citizens have right of residence. Monthly living costs, food & drink - £600pm. Bottle of wine £4. Meal out for two £30. Average 2-bed house price - £180,000. Average return air fare - £40 – 80. Income tax rates – No tax on pension income from outside Malta. No inheritance, wealth, or annual property taxes. Healthcare – The EHIC entitles you to free basic healthcare. Reciprocal state pension: Yes

22. WHERE TO RETIRE FRANCE – Most move to France for a better quality of life. Cost/requirements of entry – Nil. EU citizens have right of residence. Monthly living costs, food & drink - £1,500pm. Bottle of wine £5. Meal out for two £35. Average 2-bed house price - £180,000. Average return air fare – Paris £70, Nice £130. Income tax rates – State, private or occupational pensions are taxable as are lump sum pension payments in excess of £5,100 (tax free in the UK. Healthcare – The EHIC entitles you to free basic healthcare Reciprocal state pension: Yes

23. WHERE TO RETIRE CROATIA - Affordable living, low tax and tope weather. On the rise. Cost/Requirements of entry – Nil. But plenty of red tape. Monthly living costs, food & drink - £600pm. Bottle of wine £4. Meal out for two £22. Average 2-bed house price - £120,000. Average return air fare - £70. Income tax rates- - pensions received from abroad are tax free. Healthcare – Reciprocal agreement entitles pensioners to hospital, medical and dental treatment (excludes medicines). Reciprocal state pension: No

24. WHERE TO RETIRE TURKEY – Cheap living costs, dry climate and few entry barriers. Cost/Requirements of entry – visa on arrival. Evidence of adequate (unspecified) retirement income. Monthly living costs, food & drink - £1,000pm. Bottle of wine £6. Meal out for two £15-20. Average 2-bed house price - £60,000 – 100,00 (most retirees rent). Income tax rates – no tax on pension income. Inheritance is 1% on the first £67,500, 3% n the next £148,000. Healthcare – private medical/dental insurance is necessary. Reciprocal state pension: No

25. WHERE TO RETIRE EGYPT – Affordable property and low tax rates. Good alternative. Cost/requirements of entry – Foreign property owners can obtain a renewable 5-year residence permit. Monthly living costs, food & drink - £400pm. Bottle of wine £7. Meal out for two £18. Average 2-bed house price - £60,000. Flat £20,000. (most retirees rent). Average return air fare - £240. Income tax rates – No capital gains tax, no inheritance tax. Healthcare – Medical/dental services are cheap but private medical insurance should be taken out. Reciprocal state pension: No

26. WHERE TO RETIRE AUSTRALIA – Expensive but ever popular destination for Brits. Cost/requirements of entry - £283,000-425,000 and income of £28,000 – 37,000 (by state). Monthly living costs, food & drink - £2,500. Bottle of wine £5. Meal out for two £20-25. Average 2-bed house price - £250,000. Average return air fare - £600-700, city dependent. Income tax rates – six-month window to transfer pension benefits without incurring any tax. Healthcare – Reciprocal agreement entitles pensioners to emergency treatment. Reciprocal state pension: No

27. WHERE TO RETIRE MALAYSIA – Rock bottom tax and low living costs. Great prospect. Cost/Requirements of entry – Requires income of £2,000pm and about £70,000 in liquid assets. Monthly living costs, food & drink - £1,000pm. Bottle of wine £6. Meal out for two £15-20. Average 2-bed house price - £60,000-100,000 (most retirees rent). Average return air fare - £500. Income tax rates – No tax on income from outside Malaysia. No inheritance nor capital gains tax. Healthcare – Medical/dental services are cheap but visa immigrants are required to have medical insurance. Reciprocal state pension: No

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29. CAUTION!! BUSINESS/INVESTMENT IS A CLASS A DRUG BEWARE, KNOW WHEN TO DRAW THE LINE!

30. If I have seen further than others It is because I stood on the shoulder of giants! Sir Isaac Newton