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Savings and Investments thread

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  • Rob7Lee said:
    Only 1 more sleeps. Can't wait.
    I've cut right back on my UK holdings in case the markets react a little, it's becoming clearer as to what's ahead - just how bad we will see!
    I hate all these pre-budget announcements. 

    Friday we had the employer NI increase. 
    Yesterday it was the bus cap increase.
    Today it is minimum wage increase.

    No bloody point having a Budget - just announce everything to the press over a week or two. 
    The NI increase will cause a lot of pain I feel. No way most employers won't pass that onto the employee over time.
    Always felt Minimum wage set by government was a bit of a turkeys voting to cancel Christmas as it just means more money in the coffers for them predominantly.

    Just pensions, IHT and CGT to come! Always save the best to last they say......
  • Rob7Lee said:
    Rob7Lee said:
    Only 1 more sleeps. Can't wait.
    I've cut right back on my UK holdings in case the markets react a little, it's becoming clearer as to what's ahead - just how bad we will see!
    I hate all these pre-budget announcements. 

    Friday we had the employer NI increase. 
    Yesterday it was the bus cap increase.
    Today it is minimum wage increase.

    No bloody point having a Budget - just announce everything to the press over a week or two. 
    The NI increase will cause a lot of pain I feel. No way most employers won't pass that onto the employee over time.
    Always felt Minimum wage set by government was a bit of a turkeys voting to cancel Christmas as it just means more money in the coffers for them predominantly.

    Just pensions, IHT and CGT to come! Always save the best to last they say......
    And my thoughts on those last 3.......

    No major changes to pension contributions or TFC but pension fund to be included in your Estate for IHT purposes.

    Other IHT changes..........changes to certain reliefs that wont impact 90% of the population, changes or abolition of the property allowance & a few other tinkerings that only affect those with sizable Estates 

    CGT to be aligned with your marginal rate & maybe even an INCREASE of the annual allowance as a final rabbit out of the hat.
  • red10 said:
    Yep, anybody who has managed to do all right by themselves will end up getting shafted in one way or another be that alive or dead. Governments need to be going after major corporations such as google, amazon etc who swerve tax by offsetting against overseas image rights etc the sums involved would make a huge difference to the public purse. Sorry for the rant.
    Good luck with that
  • As a small business owner, I am dreading this today.
  • Rob7Lee said:
    Only 1 more sleeps. Can't wait.
    I've cut right back on my UK holdings in case the markets react a little, it's becoming clearer as to what's ahead - just how bad we will see!
    I hate all these pre-budget announcements. 

    Friday we had the employer NI increase. 
    Yesterday it was the bus cap increase.
    Today it is minimum wage increase.

    No bloody point having a Budget - just announce everything to the press over a week or two. 
    I was rather confused on one of your points here. I was reading bus as business. I assume you are literally talking bus fares from £2 to £3? An important one will also be business rate relief, which thousands of hospitality places (pubs and small restaurants) currently get but is due to expire soon (March?). 
  • Time to man the lifeboats.
  • Stock market not looking good this morning.

    Currently down 50 points (0.6%) to 8170.
  • bobmunro said:
    As a small business owner, I am dreading this today.

    You are right to be concerned, but I have a sneaking feeling that they have painted the blackest picture possible so that the reality is somewhat less so. A sort of 'under promise, over achieve' scenario.
    They all do this all the time. "Phew, it's shit but not as shit as I thought". 
    Pathetic that the psychology of this approach works really.
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  • As a small business owner, I am dreading this today.
    Really pleased I got out owning my own company 18 months ago, especially as I managed to sell my shares to my partner at a decent price.
  • NI the big one, £25bn!

    Thought CGT was going to be worse TBH.

    2% more for second homes has just killed any entry to BTL - sorry for anyone renting, your rents will be going up even more.

    Disappointed (but not surprised) to see pension now fall into IHT - Sounds like I need to spend spend spend or leverage a lot of debt.
  • Rob7Lee said:
    NI the big one, £25bn!

    Thought CGT was going to be worse TBH.

    2% more for second homes has just killed any entry to BTL - sorry for anyone renting, your rents will be going up even more.

    Disappointed (but not surprised) to see pension now fall into IHT - Sounds like I need to spend spend spend or leverage a lot of debt.
    BBC website says CGT on additional homes is not changing? 
  • Rob7Lee said:
    NI the big one, £25bn!

    Thought CGT was going to be worse TBH.

    2% more for second homes has just killed any entry to BTL - sorry for anyone renting, your rents will be going up even more.

    Disappointed (but not surprised) to see pension now fall into IHT - Sounds like I need to spend spend spend or leverage a lot of debt.
    BBC website says CGT on additional homes is not changing? 
    2% was stamp duty
  • edited October 30
    Rob7Lee said:
    NI the big one, £25bn!

    Thought CGT was going to be worse TBH.

    2% more for second homes has just killed any entry to BTL - sorry for anyone renting, your rents will be going up even more.

    Disappointed (but not surprised) to see pension now fall into IHT - Sounds like I need to spend spend spend or leverage a lot of debt.
    BBC website says CGT on additional homes is not changing? 
    The additional Stamp of 3% is increasing to 5% from tomorrow, not CGT (which remains the same on property)
  • Rob7Lee said:
    Rob7Lee said:
    NI the big one, £25bn!

    Thought CGT was going to be worse TBH.

    2% more for second homes has just killed any entry to BTL - sorry for anyone renting, your rents will be going up even more.

    Disappointed (but not surprised) to see pension now fall into IHT - Sounds like I need to spend spend spend or leverage a lot of debt.
    BBC website says CGT on additional homes is not changing? 
    The additional Stamp of 3% is increasing to 5% from tomorrow, not CGT (which remains the same on property)
    Ahh
  • CGT/inheritance tax changes were not as severe as I feared, but as someone said before - probably by design to make us expect the worse in the build up. 


  • Pensions falling into IHT from 2027  :s
  • Unless there is something in the small print, she hasn't done anything to ISAs has she?
  • Rob7Lee said:
    NI the big one, £25bn!

    Thought CGT was going to be worse TBH.

    2% more for second homes has just killed any entry to BTL - sorry for anyone renting, your rents will be going up even more.

    Disappointed (but not surprised) to see pension now fall into IHT - Sounds like I need to spend spend spend or leverage a lot of debt.
    Or be ok with contributing to a crumbling society? Why is that so bad? 
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  • Rob7Lee said:
    NI the big one, £25bn!

    Thought CGT was going to be worse TBH.

    2% more for second homes has just killed any entry to BTL - sorry for anyone renting, your rents will be going up even more.

    Disappointed (but not surprised) to see pension now fall into IHT - Sounds like I need to spend spend spend or leverage a lot of debt.
    Or be ok with contributing to a crumbling society? Why is that so bad? 
    In theory, were I to die after Apr 2027 but before i've retired/collected pension my estates IHT bill has likely just gone up north of £500k, so apology for being disappointed! But as I say, not surprised and there are ways to reduce this to a degree.
  • Pensions falling into IHT from 2027  :s
    Looks like we'll have to spend spend spend!
  • The FTSE 250 and AIM like the budget.  FUD worked and they were over-sold.  

    What's interesting is that this is a Liz Truss budget - borrow heavily to invest (although, she also spunked a lot on the energy cap).  But they have the OBR in their pocket.  Hunt looks like a right mug.
  • edited October 30
    Pensions falling into IHT from 2027  :s
    Can someone explain what this means/how this actually works please?
  • Unless there is something in the small print, she hasn't done anything to ISAs has she?
    Can answer my own question .

    Small print says the amount you can currently pay into an isa stays the same until 2030. I'm amazed.
  • meldrew66 said:
    Pensions falling into IHT from 2027  :s
    Can someone explain what this means/how this actually works please?
    As it stood, were you to die before 75, your pension pot (i.e. SIPP, not and DB scheme) passed to your survivors tax free. Now it will simply form part of your estate and be added to the overall estate.

    I.E. if you were single and had a home worth £400k and £100k in the bank your estate would not pay IHT as at the £500k limit. Now if you have to include say a £350k of pension pot on top you are now £350k over the limit and the estate would pay £140k in IHT. 
  • CGT for basic rate taxpayers up from 10% to 20%

    For higher rate taxpayers up from 20% to 24%.

    FROM TODAY.

    Buggers my clients who move money from Investment funds into their ISA's before the end of the tax year.


  • Does surprise me that there were NO changes to Pensions apart from now being part of your Estate.

    Tax free lump sum untouched 
    Tax relief untouched. 
    Lifetime & Annual allowances untouched 
  • @Rob7Lee if you were single your allowance is £325k not £500k assuming you have no children.

    so you would pay IHT on £175k plus the pension pot of £350k in your example from 2027
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