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Questions for TJH290633

General discussions about equity high-yield income strategies
Lootman
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Re: Questions for TJH290633

#328293

Postby Lootman » July 23rd, 2020, 8:40 pm

CryptoPlankton wrote:
Bouleversee wrote:Terry -

Do you have a record of what one would have contributed if one had put the max. each year into PEPs and their successors (wasn't there something between PEPs and ISAs?) up to the present day? If so, could you please share on here.

Sorry, not Terry, but that made me curious! According to the FT, the maximum possible subscription to the end of the 2017/18 tax year was £280000 - so £340000 including the current tax year:

https://www.ft.com/content/3b8e19e8-3c1 ... 04d3811663

(If you can't access that it was the 8th result for Google search "how much total contribution to PEPS and ISAS")

There are a few wrinkles.

For instance, for a while you could contribute extra to "single company PEPs". They were later merged into general PEPs but some folks like me, who otherwise have committed the max since their inception, did not use them.

There used to be different limits depending on whether you bought shares or funds.

There was one year when those over a certain age could contribute a little more.

That said, your £340000 sounds like it is in the ballpark, if you maxxed out every opportunity.

Alaric
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Re: Questions for TJH290633

#328297

Postby Alaric » July 23rd, 2020, 8:52 pm

kempiejon wrote:TESSAs tax exempt special savings accounts predated the ISAs.


They were for cash only, running in parallel to PEPs, even if introduced a little later.

https://en.wikipedia.org/wiki/Tax-exemp ... gs_account

CryptoPlankton
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Re: Questions for TJH290633

#328306

Postby CryptoPlankton » July 23rd, 2020, 9:55 pm

Lootman wrote:
CryptoPlankton wrote:
Bouleversee wrote:Terry -

Do you have a record of what one would have contributed if one had put the max. each year into PEPs and their successors (wasn't there something between PEPs and ISAs?) up to the present day? If so, could you please share on here.

Sorry, not Terry, but that made me curious! According to the FT, the maximum possible subscription to the end of the 2017/18 tax year was £280000 - so £340000 including the current tax year:

https://www.ft.com/content/3b8e19e8-3c1 ... 04d3811663

(If you can't access that it was the 8th result for Google search "how much total contribution to PEPS and ISAS")

There are a few wrinkles.

For instance, for a while you could contribute extra to "single company PEPs". They were later merged into general PEPs but some folks like me, who otherwise have committed the max since their inception, did not use them.

There used to be different limits depending on whether you bought shares or funds.

There was one year when those over a certain age could contribute a little more.

That said, your £340000 sounds like it is in the ballpark, if you maxxed out every opportunity.

I'm afraid you'd have to ask the author of the FT article whether or not those "wrinkles" were taken into account when deriving their figure (or, of course, work it out yourself!).

Bouleversee
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Re: Questions for TJH290633

#328321

Postby Bouleversee » July 23rd, 2020, 11:25 pm

Thanks, everyone. I shall have to unscramble the shares I inherited from my husband which were added to my ISA to work out what my own have done over so many years.

tjh290633
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Re: Questions for TJH290633

#328398

Postby tjh290633 » July 24th, 2020, 10:40 am

Bouleversee wrote:Terry -

Do you have a record of what one would have contributed if one had put the max. each year into PEPs and their successors (wasn't there something between PEPs and ISAs?) up to the present day? If so, could you please share on here.

As it happens, I do.

For a single person up to 5th April this year it was £65,400 in PEPs, £21,000 in Single Company PEPs (I could be £3,000 out there), £229,860 in ISAs of all flavours (but excluding the recent LISA and any other variations). You could also put £9,000 into a TESSA and roll that capital over at the end of the period, but that would have had to stay in cash.

That's a total of £316,260 up to 5th April this year.

TJH


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