Markets Lift at last !!

[Mr Bump]

The 18% CGT for 2025/26 is due by January 2027. I'm going to pay mine now because Andy Burnham will be the PM on July 20th and his Chancellor will increase CGT to at least the level of the income tax rate of 20%. Likely more. It will be enacted very quickly..maybe immediately, to stop a massive sell-off.

dunno i would be tempted to let the money sit if you can get 5% on it at the moment

 

[JohnC6]

dunno i would be tempted to let the money sit if you can get 5% on it at the moment

I just came across this...June 25th... Scroll down to the CGT paragraph.

What a Burnham premiership could mean for your long-term wealth

Keir Starmer’s departure appears to have paved the way for the new Makerfield MP to become prime minister. So, what do we understand about his potential policies that could impact your investments and retirement?

www.ii.co.uk

 

[mj4456]

Last lot of shares wife has will now be sold at a loss*, part of the company failed and the value of the part left may never recover so we’ll take the money now.
If thought about it won’t be a loss but not as big a profit as might have been, but a profit, just.

 

[leaky5]

I have done a bit more digging and it seems it may be transferable. I have asked my current administrator to confirm.

Also I did not even know about this until about a year ago

They have confirmed that it would go from 32% to 25% LS if I move it.
So looks like the 32% will be coming out and stuck into any tax free options available.

Bit of a bummer, but me and the OH have sat down this morning and done the sums.

We are 61 this year, so need to cover 6 years basically, once we hit 67 we will be ok, our income will be similar to what we earn now working PT with some pensions. All apart from one ( which will probably be a 15 or 20 year annuity) of the pensions will be index linked as well.

My wife really wants to give up soon due to big changes coming up at her place of work.
I don’t mind doing g a bit more time, but don’t want it to drag on to far.

So using up the remaining 68% of the above mentioned pension as draw down will give us the 6 years even if it does not make much more ( but fingers crossed it will ).
If it doesn’t we have some savings we can dip into for emergencies

 

[mj4456]

Sold a pile of Sun Life (Canada) shares that were given free, had them a long long time and the bi annual dividend cheques took us out for a meal but I had plans for the money, share price was rising so out went the instruction, sales sold and paperwork arrived today £16k+ change, price was still rising but so was exchange rate, money in the bank Tuesday, £5k to grandson, £5k to daughter and the rest to the wife with instructions she spends it on herself only, I can see it sitting in the bank for a while, she’s not a spender.