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Savings and Investments thread

1274275277279280294

Comments

  • 8555
  • What's the deadline for entries @Rob7Lee?
  • IdleHans said:
    What's the deadline for entries @Rob7Lee?
    Lets say 31st July latest.
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  • 8398

  • Interesting article in City AM today about Interactive Brokers.  I knew Tom Petterfy back in the early days of Timber Hill and it's amazing the size of the business he's built.  I'm a very happy customer - worth a look.

    https://www.cityam.com/interactive-brokers-is-ready-to-shake-up-the-uk-trading-market/?utm_source=CityAM&utm_campaign=dfcda2de11-EMAIL_CAMPAIGN_2024_07_19_06_01_COPY_01&utm_medium=email&utm_term=0_-856139eab8-%5BLIST_EMAIL_ID%5D
  • Thanks to all those who've submitted their guess so far, below is what we have and those that are yet to enter who have participated in the past, newbies also welcome!

    NameLevel
    fat man on a moped8301
    Solidgone8323
    Pedro458325
    Rob7Lee8350
    blackpool728390
    holyjo8398
    CAFCWest8399
    Redman8409
    CharltonKerry8410
    StrikerFirmani8410
    Housty8424
    BalladMan8443
    golfaddick8484
    Addickinedi8491
    RalphMilne8494
    Covered End8512
    LargeAddick8513
    valleynick668526
    wwaddick8555
    cafcpolo8562
    aitchyaddick8585
    bobmunro8598
    Arsenetatters8615
    HardyAddick8722
    guinnessaddick8769
    @TelMc32 
    MrWalker 
    WishIdStayedInThe Pub 
    Thread Killer 
    PragueAddick 
    Jamescafc 
    Salad 
    Hornchurch 
    meldrew66 
    oohaahmortimer 
    Bangkokaddick 
    Lonelynorthernaddick 
    Addick Addict 
    Jon_CAFC_ 
    thecat 
    TheGhostofTomHovi 
    Huskaris 
    IdleHans 
    Daarrrzzettbum 
    Morboe 
    Fortune 82nd Minute 
    Lenglover 
    Er_Be_Ab_Pl_Wo_Wo_Ch  
    CAFC, we hate palace 
    cafc7-6htfc 
    CAFCsayer 
    Exiledin Manchester 
    Gary Poole 
    happy valley 
    Hoof_it_up_to_benty 
    KentAddick 
    Killer Kish 
  • A Damascene-like conversion of all the pessimistic CL pundits.  You love to see it 😂
  • Since the increase in state pension this year and the continued freezing of tax thresholds, it must be the case that some pensioners should be paying some tax on their pension, which is not deducted at source.
    Some will need to fill in self assessment forms, probably for the first time in many cases or be breaking the law.
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  • Southbank said:
    Since the increase in state pension this year and the continued freezing of tax thresholds, it must be the case that some pensioners should be paying some tax on their pension, which is not deducted at source.
    Some will need to fill in self assessment forms, probably for the first time in many cases or be breaking the law.
    Yes, for the first time we (my wife and myself) completed a self assessment form, (previously always done by my company accountant) to be fair we only had around 6 reminders each from HMRC, so I was aware, but I was very nearly caught out that they actually wanted the payment by the end of July, I assumed wrongly that it was end of January. My bill was for just over £450 from memory £250 for pension and £200 for saving interest. My wife bill was £0. Think next year I will have to see if there’s a way of using some of her £2,000 unused tax allowance to offset mine. 
  • Am in Second place already 🤓
  • Southbank said:
    Since the increase in state pension this year and the continued freezing of tax thresholds, it must be the case that some pensioners should be paying some tax on their pension, which is not deducted at source.
    Some will need to fill in self assessment forms, probably for the first time in many cases or be breaking the law.
    Yes, for the first time we (my wife and myself) completed a self assessment form, (previously always done by my company accountant) to be fair we only had around 6 reminders each from HMRC, so I was aware, but I was very nearly caught out that they actually wanted the payment by the end of July, I assumed wrongly that it was end of January. My bill was for just over £450 from memory £250 for pension and £200 for saving interest. My wife bill was £0. Think next year I will have to see if there’s a way of using some of her £2,000 unused tax allowance to offset mine. 
    If you are talking of using part of her personal allowance of £12, 570 this can be done by election. She can elect to pass part of it onto you. There is a section on self assessment form that allows you to do that. If you are talking about the higher rate rate allowance, this cannot be surrendered. 
    I expect you can save tax on savings interest by putting the savings in your wife's name. However this requires forward planning and will depend on both of your savings interest and tax brackets.
    I cannot understand why it is due by July, tax returns for year to 5/4/24 are due 31/1/25 unless you are talking about the previous year. 
  • edited July 23
    Yes, I was talking about election, must have missed that section when I filled the form in. Thanks. Perhaps I ought to get an accountant to do it once on my behalf to see where I went wrong. 
  • Yes, I was talking about election, must have missed that section when I filled the form in. Thanks. Perhaps I ought to get an accountant to do it once on my behalf to see where I went wrong. 
    I believe you can only transfer 10% of the allowance (£1,260), and only assuming that means your wife still won't pay tax. You can apply online and also backdate to 2020 I believe. You would have to be a lower rate tax payer also (which sounds like you are).
  • Yes I’m lower rate now, my wife has got around £2,000 of tax free allowance still to use so transferring some to me wouldn’t be a problem. Thanks will look into it.
  • 8540 please
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