or could someone who has an eye for a scam / legit opportunity please have a look for me.
I didnt read it all but to me it looks like
1) it's for investors (BTL's) on cheap properties so probably lowish rents. Not too much risk buying a 2 bed terrace house in burnley for £120k. Different gravy buying a 2 bed flat in London to rent out.
2) lots of "portfolio landlords" have been ditching properties since Covid - rent arrears & new tax rules haven't made it that profitable since 2020. Lots of cheap stock around ip North.
Personally I wouldn't touch it with a barge poke. Property as an investment is probably about 5th on the list when it comes to investment opportunities. Very tax inefficient & not very liquid. Now the tax breaks have ceased & CGT has been frozen you are stuffed if you are a 40% taxpayer.
Cheers golfie, it would be viewed as long term investment, mortgage free and up north.
not a taxpayer at all in the UK, would that change things?
a bit of context of my current situation, that might help with a suggestion of where else I can put my money.
Have savings spread across some tracker funds, eu, asia and America, wife and I own an apartment here and another is currently being built, both mortgage free, value probably around £160k combined, have what I consider to be too much cash sitting doing nothing (I can’t buy premium bonds as not a UK resident), so the guaranteed 6% income per year seems quite attractive. Especially as it would be my only UK income.
With my current job I add around 1k to the savings pot per month.
If you are registered as a NRL (Non Resident Landlord) you will have to complete and submit an annual self-assessment to HMRC, but doubtful you will have to pay any tax. If you're not NRL you will pay tax on the earnings at source (approx 10%) assuming you will have it managed.
As an actual landlord, I had to pay UK tax on rental of my house, despite being declared and accepted as tax non-resident. It was, apparently, because the revenue was derived in the UK and I had no room for manoevre with HMRC ( I use the same very reliable accountants for over 30 years). I also have to pay CGT on the sale. But I guess you’ve assumed the revenue Stu would earn from this would not breach the tax- free allowance (which applies to non-residents too) ?
Mrs had hairdresser round yesterday said her husband is getting paid out £55 000 compensation for opting out or in off serps.
Remember this in 80s 90s can’t remember if I opted out or in pension didn’t really bother me them days.
Anyone know anything about this or how you can check to see if your entitled anything.
Not heard of any compensation around opting out of SERPS but it could well be due to general pension mis-selling. I do recall some ambulance chasers a couple of years ago advertising that they could get compo for all sorts of financial misdemeanors but most are just on a fishing expedition.
Remember, people tell you all sorts of things, and most times they aren't 100% sure what they are talking about so I would take anything "a mate down the pub" tells you with a big pinch of salt.
Millions of people in the late 80's and early 90's contracted out of Serps (I know because working for the Pru at the time I signed up a few - got £15 a case). Loads & loads probably only got a couple of years worth of contributions paid into a Personal Pension before they joined an employer based scheme and it stopped.
Thing is, at the time SERPS contributions could only be taken at your NRD and as an income. Subsequent legislation (A Day in 2006 & Pension Freedoms in 2015) have meant SERPS is now just lumped into your personal pension & can be part of your tax free lump sum.
Things change, so what you might have signed up for in 1990 is completely different now.
Mrs had hairdresser round yesterday said her husband is getting paid out £55 000 compensation for opting out or in off serps.
Remember this in 80s 90s can’t remember if I opted out or in pension didn’t really bother me them days.
Anyone know anything about this or how you can check to see if your entitled anything.
Not heard of any compensation around opting out of SERPS but it could well be due to general pension mis-selling. I do recall some ambulance chasers a couple of years ago advertising that they could get compo for all sorts of financial misdemeanors but most are just on a fishing expedition.
Remember, people tell you all sorts of things, and most times they aren't 100% sure what they are talking about so I would take anything "a mate down the pub" tells you with a big pinch of salt.
something has spooked the markets. FTSE100 currently down 130 points (1.75%) after falling 115 point (1.5%) yesterday. European markets down 2% as well.
If America starts falling this afternoon there could be even heavier losses.
My June 30th finishing level of 7730 looks a tad optimistic now.
EDIT.
FTSE now down 2.3%. Dow Jones and S&P down the same. US inflation figures out - 8.6%
I'm hoping I've struck lucky gold again........ just in the midst of transferring an account from ii to Vanguard so sold all my stock a few days ago! Fingers crossed it drops a bit more over a few days.
I fear for the worst over the coming 12 months and I'm glad I sold the majority of my shares about a year ago and bought premium bonds. I know the return will most probably be small but at least it will not result in a loss.
Noticed just recently not too many people pontificating on how well their portfolios are doing!
Ok experts. How is this going to play out?
(No marks for just saying badly!)
I've got webinars planned with Artemis tomorrow regarding US shares & Jupiter Merlin on Wednesday regarding their multi-asset funds as well as a general economic overview. Then on Thursday I have a team meeting up in London where the managers that run our portfolios will be giving us an update.
Hopefully by the end of the week I'll be a bit more informed on what the experts think might happen over the next 6 months.
Personally I was looking at putting some money in this week seeing as markets have dropped 5% over the last 3 working days.
Is it a gd idea to keep investing in a stocks & shares isa atm. It’s managed by Nationwide medium risk. My monthly sum is basically not making any difference atm as it’s dropping so fast. My logic though is I’m buying more for my money so eventually it will be worth it?!
and as luck would have it my ISA transfer has hit today, might give it a day or two before reinvesting and 9 days for my structured product to mature as long as the FTSE stays above 6244.
Just need my SIPP transfer to complete now, currently all in cash... and my Go Ahead shares have shot up, it's been a good week so far!
Is it a gd idea to keep investing in a stocks & shares isa atm. It’s managed by Nationwide medium risk. My monthly sum is basically not making any difference atm as it’s dropping so fast. My logic though is I’m buying more for my money so eventually it will be worth it?!
Just keep going, as you say what you'll get this month is units will be more than last!
and as luck would have it my ISA transfer has hit today, might give it a day or two before reinvesting and 9 days for my structured product to mature as long as the FTSE stays above 6244.
Just need my SIPP transfer to complete now, currently all in cash... and my Go Ahead shares have shot up, it's been a good week so far!
Well if we are bragging in the midst of this carnage, then I'll mention my 6 year Czech government retail bond which is less than half way through its term. The deal is it pays consumer inflation rate plus 0.5%. Currently Czech inflation is up to 17%. Almost certainly it will be my best performing investment this year, and of course compound interest locks in the gains.
Too bad that I only put in a modest amount, more or less as a patriotic gesture. Should be enough to keep me in fine Czech beer for the rest of my life though. It's still only £2 a half-litre Just did the maths, to keep my spirits up. Of course the other way to keep spirits up is to read some Crypto-threads. Sorry lads, but this was coming.
and as luck would have it my ISA transfer has hit today, might give it a day or two before reinvesting and 9 days for my structured product to mature as long as the FTSE stays above 6244.
Just need my SIPP transfer to complete now, currently all in cash... and my Go Ahead shares have shot up, it's been a good week so far!
Well if we are bragging in the midst of this carnage, then I'll mention my 6 year Czech government retail bond which is less than half way through its term. The deal is it pays consumer inflation rate plus 0.5%. Currently Czech inflation is up to 17%. Almost certainly it will be my best performing investment this year, and of course compound interest locks in the gains.
Too bad that I only put in a modest amount, more or less as a patriotic gesture. Should be enough to keep me in fine Czech beer for the rest of my life though. It's still only £2 a half-litre Just did the maths, to keep my spirits up. Of course the other way to keep spirits up is to read some Crypto-threads. Sorry lads, but this was coming.
aren't a lot of tech stocks performing worse than bitcoin this year?
edit; yup, BTC is down 52% ytd whilst Netflix is down 72% ytd, PayPal down 62% ytd…
1st feb 2019 Netflix was $332, it's now $169, Paypal was $89, it's now $73. Bitcoin was $3.5k, it's now $22.5k.
I fear for the worst over the coming 12 months and I'm glad I sold the majority of my shares about a year ago and bought premium bonds. I know the return will most probably be small but at least it will not result in a loss.
With inflation at 10% it will (or likely will anyway!)
Comments
Remember, people tell you all sorts of things, and most times they aren't 100% sure what they are talking about so I would take anything "a mate down the pub" tells you with a big pinch of salt.
Millions of people in the late 80's and early 90's contracted out of Serps (I know because working for the Pru at the time I signed up a few - got £15 a case). Loads & loads probably only got a couple of years worth of contributions paid into a Personal Pension before they joined an employer based scheme and it stopped.
Thing is, at the time SERPS contributions could only be taken at your NRD and as an income. Subsequent legislation (A Day in 2006 & Pension Freedoms in 2015) have meant SERPS is now just lumped into your personal pension & can be part of your tax free lump sum.
Things change, so what you might have signed up for in 1990 is completely different now.
;-)
Father in law..... £100 (4x£25).
Every little helps.
If America starts falling this afternoon there could be even heavier losses.
My June 30th finishing level of 7730 looks a tad optimistic now.
EDIT.
FTSE now down 2.3%. Dow Jones and S&P down the same. US inflation figures out - 8.6%
Ok experts. How is this going to play out?
(No marks for just saying badly!)
I know the return will most probably be small but at least it will not result in a loss.
Hopefully by the end of the week I'll be a bit more informed on what the experts think might happen over the next 6 months.
Personally I was looking at putting some money in this week seeing as markets have dropped 5% over the last 3 working days.
Just need my SIPP transfer to complete now, currently all in cash... and my Go Ahead shares have shot up, it's been a good week so far!
Too bad that I only put in a modest amount, more or less as a patriotic gesture. Should be enough to keep me in fine Czech beer for the rest of my life though. It's still only £2 a half-litre
Go ahead up again so may have to dump, just remembered I did some in my Wife's ISA as well
edit; yup, BTC is down 52% ytd whilst Netflix is down 72% ytd, PayPal down 62% ytd…
1st feb 2019 Netflix was $332, it's now $169, Paypal was $89, it's now $73. Bitcoin was $3.5k, it's now $22.5k.
Now tell me, what's the better performing asset?
Started first thing up almost 1% and since then it has turned tail & continued is freefall. Down 50 points (0.7%).
Your Structured Product could be in danger of not kicking out @Rob7Lee.... !