Investment Thread

[JackSomething]

Good to see the bots are keeping this thread alive. I am concerned for the bot who is struggling to make good money in it's career as a Doctor though...

 

[JustJack]

4 years on..

My portfolio very simple and low risk at the moment, mostly stocks and bonds, still some cryptocurrencies alive. Luckily for me I had to liquidise before the last bear run.

 

[LeonWasTheDogs]

This thread is actually about investing to get a return.

Ah right, so slaves then. Good idea, it’s about time we brought that back. Plenty more people to pillage these days as well.

(I’m a numpty so let an IFA handle it)

 

[LeonWasTheDogs]

4 years on..

My portfolio very simple and low risk at the moment, mostly stocks and bonds, still some cryptocurrencies alive. Luckily for me I had to liquidise before the last bear run.

Yes that was an unexpected extra bump by a bot.

 

[Squarebear]

I thought mine was quite a witty post. But I guess I just didn't read the room.

 

[Niigata Jack]

Mate posted on our Whatsapp group yesterday that if you earned 50k or more and had 15k in savings you'd be paying tax on it, also if you had 10K with a 5% interest plan they'd be taking tax from you, legalised thievery whilst the fat cats ferret away their millions/billions away in offshore accounts and pay nothing.

 

[Pentyrchjack]

Mate posted on our Whatsapp group yesterday that if you earned 50k or more and had 15k in savings you'd be paying tax on it, also if you had 10K with a 5% interest plan they'd be taking tax from you, legalised thievery whilst the fat cats ferret away their millions/billions away in offshore accounts and pay nothing.

Yes, if you do HMRC self assessment you have to declare untaxed interest on savings (building societies pay interest gross, not net). This means your PAYE tax code is adjusted so you pay the tax on interest by taking home less pay in your pay packet. Yet another joy for the working man and woman.

 

[Cooperman]

Mate posted on our Whatsapp group yesterday that if you earned 50k or more and had 15k in savings you'd be paying tax on it, also if you had 10K with a 5% interest plan they'd be taking tax from you, legalised thievery whilst the fat cats ferret away their millions/billions away in offshore accounts and pay nothing.

Your mate needs to pick the correct type of account. It is entirely feasible to get close to achieving 5% interest and avoid paying tax, by choosing an ISA savings account.

Also, in simple terms, the first £1000 interest earned from non ISA accounts is tax exempt.

 

[Niigata Jack]

Your mate needs to pick the correct type of account. It is entirely feasible to get close to achieving 5% interest and avoid paying tax, by choosing an ISA savings account.

Also, in simple terms, the first £1000 interest earned from non ISA accounts is tax exempt.

My mate was quoting from somewhere, its not his situation.

 

[Niigata Jack]

Yes, if you do HMRC self assessment you have to declare untaxed interest on savings (building societies pay interest gross, not net). This means your PAYE tax code is adjusted so you pay the tax on interest by taking home less pay in your pay packet. Yet another joy for the working man and woman.

My lad is clever with money and where to put it etc, he has guided me very well and I've a mate who is a now retired financial advisor and has looked after me for years with advice, etc.

Another year or so at the coal face and I'm done!

 

[Cooperman]

My mate was quoting from somewhere, its not his situation.

You should correct his understanding, especially if he’s a mate.

4.7% tax free right now with Principality BS. It won’t stay like that for long though, especially after the snippets from the BoE today.

 

[Niigata Jack]

You should correct his understanding, especially if he’s a mate.

4.7% tax free right now with Principality BS. It won’t stay like that for long though, especially after the snippets from the BoE today.

Like I said its not his situation so it doesn't affect him.

 

[JackSomething]

You should correct his understanding, especially if he’s a mate.

4.7% tax free right now with Principality BS. It won’t stay like that for long though, especially after the snippets from the BoE today.

I managed to get a 2-year fixed rate cash ISA with Charter Savings Bank last year at 5.58%. Best I could get this year was almost a full 1 percent less around the Principality rate you've quoted.

 

[Cooperman]

I managed to get a 2-year fixed rate cash ISA with Charter Savings Bank last year at 5.58%. Best I could get this year was almost a full 1 percent less around the Principality rate you've quoted.

I think I read PBS as three year. These rates won’t be around for long, they will only go south from here.

 

[Cooperman]

Like I said its not his situation so it doesn't affect him.

Or put him in touch with your IFA mate, as he’s maybe missing out.