Guys, don't worry about the overall price level. I don't want to be too specific on here about the price, but I've been tracking my place on and off since I left, and had to get it officially valued in 2015 for Osbourne's new CGT regime. It's way above that lot you've posted. Chartered surveyors will tell you that the best benchmark is the geographically closest and most physically similar property, and we have that, because the house is in a terrace of 12 town houses with integral garages, which was built as one block. They are therefore all pretty much the same, plus whatever modernisations have taken place. The new agent - Winkworth - had actually sold one of them a few weeks ago which provided us with the benchmark, albeit it had shocked my sleepy letting agent who had valued it a fair bit lower in February. So she put it on at a discount of 50k to what the other one had gone for. And Winkworth have told me that they would start with the price it is currently on at, whereas the old agent wants to reduce it because, well, she has no other tool available. Winkworth may drop it a bit once they have been round it in detail, but among other things, they mentioned that they would contact buyers who were interested in the one they sold.
I may still end up disappointed because its possible the end of stamp duty holiday may have not worked through to the market prices yet after the frenetic first half of year, but this new lot are much more on the ball when I talk to them. I've wasted a few weeks with the letting agent, but thats the price of being abroad and at arm's length. If I'd been in London I'd have been more ready and able to visit them and get competitive quotes. Which is probably the main general learning for this thread. Get competitive valuations (and as @HardyAddick says, good letting agent may not be good sales agent).
I don't think the stamp duty will make any difference when comparing to the one just sold as at best if they completed by the end of this month it's £2.5k saving so wouldn't move the dial.
Guys, don't worry about the overall price level. I don't want to be too specific on here about the price, but I've been tracking my place on and off since I left, and had to get it officially valued in 2015 for Osbourne's new CGT regime. It's way above that lot you've posted. Chartered surveyors will tell you that the best benchmark is the geographically closest and most physically similar property, and we have that, because the house is in a terrace of 12 town houses with integral garages, which was built as one block. They are therefore all pretty much the same, plus whatever modernisations have taken place. The new agent - Winkworth - had actually sold one of them a few weeks ago which provided us with the benchmark, albeit it had shocked my sleepy letting agent who had valued it a fair bit lower in February. So she put it on at a discount of 50k to what the other one had gone for. And Winkworth have told me that they would start with the price it is currently on at, whereas the old agent wants to reduce it because, well, she has no other tool available. Winkworth may drop it a bit once they have been round it in detail, but among other things, they mentioned that they would contact buyers who were interested in the one they sold.
I may still end up disappointed because its possible the end of stamp duty holiday may have not worked through to the market prices yet after the frenetic first half of year, but this new lot are much more on the ball when I talk to them. I've wasted a few weeks with the letting agent, but thats the price of being abroad and at arm's length. If I'd been in London I'd have been more ready and able to visit them and get competitive quotes. Which is probably the main general learning for this thread. Get competitive valuations (and as @HardyAddick says, good letting agent may not be good sales agent).
I certainly think going with Winkworths is a good idea & they should still be in contact with the viewers & potential purchasers of the neighbouring property. They might also like the idea that they can do it up as they like....I hear of many people buying properties & ripping out good kitchens & bathrooms just so they can put in a granite worktop or a double shower.
Nothing on the Premium Bonds but received a letter from the HM Revenue & Customs today saying I paid too much tax in year ending 5 April 2021 and I am due a refund of £968.20.
see link draw has been made, if you log on and go to prize history if you have won something it will show up straight away, if did, when I won, in May, June and July
see link draw has been made, if you log on and go to prize history if you have won something it will show up straight away, if did, when I won, in May, June and July
Never has for me, although the draw is made a couple of days in advance I can never see what I have/haven't won until early hours of the 2nd day, that's either logged in as you mention above or via the app.
Good month here with the PBs. £100 for me, £50 for Mrs Chaz and £75 for junior (including a £50). Had to get results from the main site as the prize checker app says results not yet available!
Advice please, re the Money Purchase Annual Allowance, I have 3 pensions, one of which I am now getting a monthly sum, does the MPAA apply to my 2 other pensions I have not cashed in yet i.e. is it £40k or £4k I can get tax relief on from my combined contributions to these 2?
Advice please, re the Money Purchase Annual Allowance, I have 3 pensions, one of which I am now getting a monthly sum, does the MPAA apply to my 2 other pensions I have not cashed in yet i.e. is it £40k or £4k I can get tax relief on from my combined contributions to these 2?
hope that makes sense - morning all
Have a look here, it partly depends on what you did with the one you are now drawing, was it an annuity, final salary etc? Chances are it's £4k limit now but does depend on your exact circumstances with the one you are drawing.
Advice please, re the Money Purchase Annual Allowance, I have 3 pensions, one of which I am now getting a monthly sum, does the MPAA apply to my 2 other pensions I have not cashed in yet i.e. is it £40k or £4k I can get tax relief on from my combined contributions to these 2?
hope that makes sense - morning all
Have a look here, it partly depends on what you did with the one you are now drawing, was it an annuity, final salary etc? Chances are it's £4k limit now but does depend on your exact circumstances with the one you are drawing.
Advice please, re the Money Purchase Annual Allowance, I have 3 pensions, one of which I am now getting a monthly sum, does the MPAA apply to my 2 other pensions I have not cashed in yet i.e. is it £40k or £4k I can get tax relief on from my combined contributions to these 2?
hope that makes sense - morning all
Pretty much you cannot draw pension money that’s had Tax Relief, and then pay it back into another pension and get Tax relief again. An saying that the money going in comes from salary, whilst you live on the pension doesn’t work. As that’s just basically the same thing. So I would say that if your drawing a monthly pension income, it’s likely you now only have the £4,000 allowance. But only my opinion.
Advice please, re the Money Purchase Annual Allowance, I have 3 pensions, one of which I am now getting a monthly sum, does the MPAA apply to my 2 other pensions I have not cashed in yet i.e. is it £40k or £4k I can get tax relief on from my combined contributions to these 2?
hope that makes sense - morning all
Pretty much you cannot draw pension money that’s had Tax Relief, and then pay it back into another pension and get Tax relief again. An saying that the money going in comes from salary, whilst you live on the pension doesn’t work. As that’s just basically the same thing. So I would say that if your drawing a monthly pension income, it’s likely you now only have the £4,000 allowance. But only my opinion.
Things may have changed, but this isn't the advice I received when I was made redundant and changed jobs. I started taking my DB pension simply because the discount factors that applied to "early retirment" were considerably better taking it on leaving the job than as a deferred pensioner. I was then able to open a new DC pension with my new employer. I was advised against taking tax free lump sum option though. Admittedly this was years ago and rules may have changed.
Advice please, re the Money Purchase Annual Allowance, I have 3 pensions, one of which I am now getting a monthly sum, does the MPAA apply to my 2 other pensions I have not cashed in yet i.e. is it £40k or £4k I can get tax relief on from my combined contributions to these 2?
hope that makes sense - morning all
Pretty much you cannot draw pension money that’s had Tax Relief, and then pay it back into another pension and get Tax relief again. An saying that the money going in comes from salary, whilst you live on the pension doesn’t work. As that’s just basically the same thing. So I would say that if your drawing a monthly pension income, it’s likely you now only have the £4,000 allowance. But only my opinion.
From the link I posted;
"The MPAA won’t normally be triggered if:
you take a tax-free cash lump sum and buy a lifetime annuity that provides a guaranteed income for life that either stays level or increases
you take a tax-free cash lump sum and put your pension pot into flexi-access drawdown but don’t take any income from it
you cash in a number of small pension pots valued at less than £10,000.
The MPAA only applies to contributions to defined contribution pensions and not defined benefit pension schemes."
Remember you can pay in whatever you like to a pension, it's just the tax efficiency we are talking about (and don't forget the LTA). That said, no real point unless you are filling up your ISA's putting into pension and not getting tax relief.
Shame to see such drops in indexes and funds of late! Focus on the long term and all that hey.
Not a great Q3, or Q4 coming up for that matter. Struggling to see any good news stories for the short term.
I cashed out some profit a while back so am starting to trickle it back in again. If you are a regular investor you want the ups and downs, today you are buying at 5% less than a month ago etc. As long as the long term trajectory is up it really doesn't matter.
Comments
https://www.rightmove.co.uk/properties/111445754#/?channel=RES_BUY 3 bed needs work, £375k
https://www.rightmove.co.uk/properties/103919765#/?channel=RES_BUY similar at £380k
https://www.rightmove.co.uk/properties/96800501#/?channel=RES_BUY better condition, £440k
https://www.rightmove.co.uk/properties/98693882#/?channel=RES_BUY and again £450k
https://www.rightmove.co.uk/properties/112130600#/?channel=RES_BUY ditto £450k
Theres then a number in the £450-500k mostly unsold. Above that price you then get into the 30's semi's etc.
I may still end up disappointed because its possible the end of stamp duty holiday may have not worked through to the market prices yet after the frenetic first half of year, but this new lot are much more on the ball when I talk to them. I've wasted a few weeks with the letting agent, but thats the price of being abroad and at arm's length. If I'd been in London I'd have been more ready and able to visit them and get competitive quotes. Which is probably the main general learning for this thread. Get competitive valuations (and as @HardyAddick says, good letting agent may not be good sales agent).
Fingers crossed the new agent comes up trumps!
Good luck....😉
God bless em!
Just looked and both say results available 2nd October 2021.
Father in law.........£25 - his winning streak lives on!
EDIT; what's interesting is both my wife and I have the maximum, but she's won roughly double me this year.
hope that makes sense - morning all
https://www.moneyhelper.org.uk/en/pensions-and-retirement/tax-and-pensions/money-purchase-annual-allowance-mpaa
"The MPAA won’t normally be triggered if:
The MPAA only applies to contributions to defined contribution pensions and not defined benefit pension schemes."
So a number of variables which only the OP knows.
Not a great Q3, or Q4 coming up for that matter. Struggling to see any good news stories for the short term.