Markets Lift at last !!

JohnC6 said:
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.
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dunno i would be tempted to let the money sit if you can get 5% on it at the moment
 
Mr Bump said:
dunno i would be tempted to let the money sit if you can get 5% on it at the moment
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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 www.ii.co.uk
 
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 said:
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
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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
 
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.
 
Are there any recommendations for drawdown? And does anyone use transact
 
leaky5 said:
Anyone use Vanguard for drawdown ?

Trying to find out how easy and flexible it is to use
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I am very invested in vanguard i find there whole eco system very easy.
drawdown is very simple to setup , you can book a call free with one of there advisors for a chat.

if you haven't yet started taking money, worth getting up to speed on how it works ,
its not just take money you have to take some tax free cash and then also create a drawdown pot, its a process and needs understanding.
 
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Mr Bump said:
I am very invested in vanguard i find there whole eco system very easy.
drawdown is very simple to setup , you can book a call free with one of there advisors for a chat.

if you haven't yet started taking money, worth getting up to speed on how it works ,
its not just take money you have to take some tax free cash and then also create a drawdown pot, its a process and needs understanding.
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Thanks looking to fully retire by March next year, so want to set up the drawdown ready for then.
My tax free is complicated, so have to fully take it (or lose a %), so will just be moving over the remainder of the pot
 
leaky5 said:
Thanks looking to fully retire by March next year, so want to set up the drawdown ready for then.
My tax free is complicated, so have to fully take it (or lose a %), so will just be moving over the remainder of the pot
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If you already have a drawdown pot created then It is simple to go in to vanguard web portal and just setup your drawdown amount and select a pay date. They will need your tax code etc. as far as I know you cannot forward set this up. You just set it up when you want to start taking it.
 
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New inheritance tax rules from April 2027 re pensions. These were announced in Rachel Reeves first budget in 2024 but I think many people will have forgotten about it.


"The change announced in the October 2024 Budget to the inheritance tax treatment of most “unused” pension funds on the death of a member will, or at least should, cause many (most obviously those who expect to have funds remaining in their pension on death) to re-think their estate planning/wealth transfer strategy"
 
Easy for me to say, having no kids, but this emphasises the need to spend it during your lifetime. Also, taking the tax-free part as a big lump sum to give away or reinvest differently.
 
Shrouds have no pockets!
 
It is affecting us, because we do have a son and grandson to whom we want to help as much as we can in the future.
 
I've said it many times on here, it was a disgusting move to retrospectively bring private pensions into the inheritance tax wrapper. People will have spent decades of careful planning, but the really kicker is that these people's investments are locked in place, you can't move the money out of the pension prior to retirement, so this rotten Government know that they've got people up against a wall with almost no escape.
 
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Markets seem to have stabilised and are also shaking off conflict and tariff concerns. The best weapon of defence against Trump is a diverse portfolio (both geographical and sector) and if you have done this then any hit should have been minimal and even starting to creep back up. Hopefully the tech fund sell off is cooling as well, fingers crossed!
 
I bought into Defence sector stocks at the start of the Ukraine war, and Tru,mp has pumped them up a couple of gears with his forcing Europe to spend big in that area. I agree though, diversity is key, and I think AsiaPac is a good place to be now too.
 
Yesterday oil prices (Brent crude) stood at $100 p/b .Today it drops to $97 and the FTSE gains 97pts..apparantly, on hopes of the resumption of talks .A couple of. other factors were in play but that was the driver. What strange logic. The US is dealing with a terrorist regime which isn't interested in a peace deal, not least because they have Trump on the hook.
 
lindsay said:
I bought into Defence sector stocks at the start of the Ukraine war, and Tru,mp has pumped them up a couple of gears with his forcing Europe to spend big in that area. I agree though, diversity is key, and I think AsiaPac is a good place to be now too.
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AsiaPac is definitely worth watching, my China stock has finally turned and started to climb and my Pacific stock has remained quite steady throughout the recent turmoil. I will be looking at other areas within AsiaPac, it's such a huge region. I'm cautious with Japan, however. The Yen is facing pressure and their debt to gdp is high.
 
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I think we are in for a few bumpy weeks again , can't see any Iran movement and also these wild fires in Europe have people spooked i feel.
 
Not to mention the uncertainty that the new tenant of #10 has brought...
 
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