Attention: Please take a moment to consider our terms and conditions before posting.
Savings and Investments thread
Comments
-
Had a note from Fidelity (where I hold my main SIPP)Important notice: Increased processing times for tax-free cash (TFC) paymentsDue to increased demand, TFC payments are taking longer than usual to process. To receive payment by 26 November, please submit your instruction by 7 November so we can process it in time. Once you've submitted your TFC withdrawal request, it cannot be cancelled.
So clearly a lot of people taking out their tax free cash amount before the budget! Not sure Rachel from Accounts is really helping matters..........2 -
I’d take mine out if I hadn’t already !,0
-
LargeAddick said:I’d take mine out if I hadn’t already !,
So would I if I was 55! Sadly just about to turn 53.......0 -
Not long to go ...Rob7Lee said:LargeAddick said:I’d take mine out if I hadn’t already !,
So would I if I was 55! Sadly just about to turn 53.......0 -
Rob7Lee said:LargeAddick said:I’d take mine out if I hadn’t already !,
So would I if I was 55! Sadly just about to turn 53.......
Do you sneak in at 55 before it rises to 57?0 -
Yes, by a few months!bobmunro said:Rob7Lee said:LargeAddick said:I’d take mine out if I hadn’t already !,
So would I if I was 55! Sadly just about to turn 53.......
Do you sneak in at 55 before it rises to 57?
1 -
My firm's compliance team are all over this & very frowned upon to be taking TFC upon idle speculation.
Fwiw.......my view is that IF there are any changes to the TFC limit in the Budget they wont happen overnight on the 26th & at the very earliest it will from the next tax year (so 6th April 2026).
In addition, past changes to pension allowances ( Lifetime & Annual) have had protections put into place so that current levels would be honoured going forward. So, IF Rachel Reeves decided to reduce the TFC limit to, say, £100k then anyone currently having more than £400k in their pension pot(s) would have the relevant 25% protected. So if you currently have £500k in your pension & could take £125k as a Tax Free lump sum then this would be protected going forward.
That is my view & has been the norm for over 50 years. When Personal Pensions came in in 1988 the TFC limit was 25%. Older Retirement Annuity plans (RAC) had TFC at 33%. These stayed as they were.
I think there will be a lot of "buyers remorse" come Budget Day. Lots of people with thousands of pounds sitting in Cash Deposits being taxed whilst others will have their money in their pensions growing tax-free.0 -
I got £275 off the premium bonds this month.
One more like that could pay for a season ticket.0 -
It's not an American meme stock. It's a real, solid, decent company and as I said I originally bought it as an income stock. Who does not know somebody who is taking Ozempic/Wegovy? FWIW more than half of the analyst consensus on Degiro is Buy or Strong Buy. I'm just holding.Rob7Lee said:
The loss says otherwise....... I always try to remember that you also have money sitting in that share (currently at a loss) that could otherwise potentially be growing elsewhere rather than just waiting to get back what you once invested.PragueAddick said:
The thing is, the reasons why I bought NN still hold good today.Rob7Lee said:You all need to take stop losses and at times sell at a loss. Over 6-7 years I’ve done well on Metro bank. But have twice sold at a loss.
my mate is still holding what he bought when I first did and he’s down about 70%. Sometimes selling is the best, even if a loss.0
