Search found 323 matches

by swill453
January 16th, 2017, 5:40 pm
Forum: Taxes
Topic: Simple Query
Replies: 2
Views: 45

Re: Simple Query

If you do you SA online then you will know immediately that there is tax to pay, so I don't think there's any further reminder.

Scott.
by swill453
January 16th, 2017, 5:38 pm
Forum: Credit Cards and Loans
Topic: Tesco Card - 0% promotion on Tesco purchases
Replies: 3
Views: 45

Re: Tesco Card - 0% promotion on Tesco purchases

Yes I reckoned there had to be a catch. Basically for anyone who always pays off their full balance, there was no benefit in the offer at all.

I do remember reading somewhere recently that if you complain loudly enough then they will refund the interest.

Scott.
by swill453
January 15th, 2017, 8:51 pm
Forum: Does anyone know?
Topic: P11Ds and SA
Replies: 19
Views: 240

Re: P11Ds and SA

I thought I understood this stuff. Clearly not. the only way my initial submission was "wrong" is if my tax code didn't include it to start with. but that doesn't really make sense if my same employer colleagues' tax codes do. If you fill in a self assessment, then your tax code is really...
by swill453
January 15th, 2017, 1:58 pm
Forum: Cars, Driving, Motorbikes and Trains
Topic: New Vehicle Excise Duty rates .
Replies: 4
Views: 115

Re: New Vehicle Excise Duty rates .

This scale seems clearer: http://www.nextgreencar.com/car-tax/2017-bands/ . Clearer yes, but it's still moving to a very complicated system, with the "first year rate" and the "premium model" supplement. I don't see why they couldn't have just adjusted the current CO2 bands down...
by swill453
January 15th, 2017, 12:57 pm
Forum: Pensions - Practical Problems
Topic: Getting tax relief with income under tax allowance
Replies: 1
Views: 66

Re: Getting tax relief with income under tax allowance

Yes, your £10K is "pensionable earnings" so you get tax relief, despite not having paid tax.

Scott.
by swill453
January 15th, 2017, 12:30 pm
Forum: Dealing with Debt
Topic: Moving on - a couple of questions
Replies: 6
Views: 362

Re: Moving on - a couple of questions

gryffron wrote:Haven't Barclays halved the cash back to 0.25/0.5%? Happened to me last year.

I'm still on 1%/0.5%.

Scott.
by swill453
January 15th, 2017, 12:14 pm
Forum: Investment Strategies
Topic: Moving out of the pound
Replies: 10
Views: 364

Re: Moving out of the pound

I've got a few tens of thousands in sterling sitting in a deposit account. Is there an easy way and quick way to put this into either dollars or euros, otherwise reduce my exposure to the pound? (I'm in the UK by the way.) Hmm, your pounds have already lost value relative to these currencies, and a...
by swill453
January 15th, 2017, 12:09 pm
Forum: Does anyone know?
Topic: P11Ds and SA
Replies: 19
Views: 240

Re: P11Ds and SA

Well since the P11D is submitted to HMRC, presumably they'll change the employee's tax code to collect the tax.

Scott.
by swill453
January 15th, 2017, 11:58 am
Forum: Pensions - Practical Problems
Topic: Paying in to a new sipp
Replies: 3
Views: 75

Re: Paying in to a new sipp

On the Motley Fool board, sipptechie from AJBell gave a worked example of the timing of tax relief into the sipp: http://boards.fool.co.uk/the-tax-reclaim-cycle-will-work-as-follows-12899724.aspx "Contribution received by your SIPP administrator between 6 September and 5 October. They will subm...
by swill453
January 15th, 2017, 9:40 am
Forum: Pensions - Practical Problems
Topic: Paying in to a new sipp
Replies: 3
Views: 75

Re: Paying in to a new sipp

If you want to end up with £18,000 in your SIPP, then yes, make a deposit of £14,400. £3,600 basic rate tax relief will be automatically added, usually after about 6 or 7 weeks, depending on the time of the month you make your deposit. You then claim a further £3,600 higher rate tax relief from HMRC...
by swill453
January 14th, 2017, 11:25 pm
Forum: Pensions - Practical Problems
Topic: Receiving money from parents to invest in my pension
Replies: 9
Views: 162

Re: Receiving money from parents to invest in my pension

We do get a bit hung up on IHT though. The parents could give £100,000 with no tax to pay, and even if they were to die within 7 years, the IHT position would not be any worse than if they had held on to the money and left it as a bequest in their will.

Scott.
by swill453
January 14th, 2017, 5:15 pm
Forum: Retirement Investing (inc FIRE)
Topic: Simple Questions on Drawdown
Replies: 7
Views: 313

Re: Simple Questions on Drawdown

Is it not the case that "if not working", then money would not be refunded through payroll - one would need to claim the refund via form Pxx (??) or via a tax return. It depends how the drawdown is taken. If £10K p.a. in monthly amounts, the pension provider will run a PAYE payroll and th...
by swill453
January 14th, 2017, 1:58 pm
Forum: Pensions - Practical Problems
Topic: Receiving money from parents to invest in my pension
Replies: 9
Views: 162

Re: Receiving money from parents to invest in my pension

There's no tax liable on a gift, so no worries there. If your parent(s) were to die within 7 years of giving you money then there is potentially Inheritance Tax to consider, though that will be affected by a lot of other factors: - whether their estate is above the threshold - what other gifts they'...
by swill453
January 14th, 2017, 1:52 pm
Forum: Beerpig's Snug
Topic: The rise of the robots.
Replies: 36
Views: 990

Re: The rise of the robots.

Snorvey wrote:Honda applies self balancing technology to one of its motorcycles.

I'd always worry if it was hit hard enough it might try and right itself upside-down or something, or attempt a full eskimo roll.

Scott.
by swill453
January 14th, 2017, 11:24 am
Forum: Retirement Investing (inc FIRE)
Topic: Simple Questions on Drawdown
Replies: 7
Views: 313

Re: Simple Questions on Drawdown

1 - you take the 25% tax free element.... In addition you take a further £10k which you know will be taxed....... but If you are working, the £10k will be added to your salary for the year and then taxed. So, you need to add up ALL tax incomes [including income from taxed savings/BTL income perhaps...
by swill453
January 13th, 2017, 2:13 pm
Forum: Drink
Topic: Beer glass preferences, what's yours?
Replies: 32
Views: 305

Re: Beer glass preferences, what's yours?

English beer tastes best from a chunky dimpled 'handle' glass http://www.drinkstuff.com/products/product.asp?ID=8755&catID=1328&name=The+Great+British+Pint+Dimple+Mug+20oz+%2F+568ml#.WHjUf9KLRdg You must be joking. My heart sinks when I glance over and see my pint being poured into one of t...
by swill453
January 12th, 2017, 9:14 pm
Forum: Beerpig's Snug
Topic: So where's all this snow ...
Replies: 20
Views: 291

Re: So where's all this snow ...

Here in Edinburgh, as Radio 4 were saying at lunchtime that Scotland was "blanketed with snow", I looked outside and saw what looked like a light dusting of talcum powder.

And nothing much has fallen since.

Scott.
by swill453
January 12th, 2017, 5:54 pm
Forum: Does anyone know?
Topic: Slim, Multi-position TV Wall Mount recommendations?
Replies: 8
Views: 171

Re: Slim, Multi-position TV Wall Mount recommendations?

I'd try a cheap one to see if you can live with it. Having a TV any higher than it would normally be on a TV stand isn't very ergonomic - they're that high for a reason. The top of the screen shouldn't be too much higher than eye level when viewing. Sitting looking up at the telly will end up being ...
by swill453
January 12th, 2017, 10:26 am
Forum: Passive Investing
Topic: Best Passive Investments for Children
Replies: 19
Views: 694

Re: Best Passive Investments for Children

helfordpirate wrote:80/20 equity/bond probably optimum given the long timescale of the investment

Investing in bonds with a possibly 50 year timescale? Not sure I'd consider that optimal.

Scott.
by swill453
January 11th, 2017, 2:49 pm
Forum: Retirement Investing (inc FIRE)
Topic: Simple Questions on Drawdown
Replies: 7
Views: 313

Re: Simple Questions on Drawdown

I assume I can leave the rest of that pot untouched and still invested until the 25% free cash runs out? Yes. If I took the 25% but also chose to drawdown 10k a year, would that 10k be taxed at the basic rate? That's assuming I wasn't working and had no other income. No. If you had no other income ...

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