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Post by Deleted on Feb 8, 2017 11:26:40 GMT
4.7% max - worth 5.8% to a 20% tax payer, and 7.8% to a 40% tax payer. Not very useful. Congratulations though to LW. Am I right in saying worth 11.75% to a 60% tax payer?  Very very useful 😉
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stevio
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Post by stevio on Feb 8, 2017 11:30:00 GMT
4.7% max - worth 5.8% to a 20% tax payer, and 7.8% to a 40% tax payer. Not very useful. Congratulations though to LW. Am I right in saying worth 11.75% to a 60% tax payer? Very very useful 😉 You would save considerably more than just the tax on your interest payments if you concentrated on how NOT to be a 60% tax payer to start with 
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Post by Deleted on Feb 8, 2017 11:31:27 GMT
Am I right in saying worth 11.75% to a 60% tax payer? Very very useful 😉 You would save considerably more than just the tax on your interest payments if you concentrated on how NOT to be a 60% tax payer to start with Haha well short of handing in my notice that won't be happening unless I'm missing something, lovely idea of course!
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stevio
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Post by stevio on Feb 8, 2017 11:35:09 GMT
You would save considerably more than just the tax on your interest payments if you concentrated on how NOT to be a 60% tax payer to start with Haha well short of handing in my notice that won't be happening unless I'm missing something, lovely idea of course! Company structure, Personal Pension payments to extend tax bands, VCTs and others, Dividend Allowance, Capital gains vs IT etc etc
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Post by Deleted on Feb 8, 2017 11:43:47 GMT
Haha well short of handing in my notice that won't be happening unless I'm missing something, lovely idea of course! Company structure, Personal Pension payments to extend tax bands, VCTs and others, Dividend Allowance, Capital gains vs IT etc etc Again all great ideas but I'm employed so I won't be changing the structure, pension is maxed and pay puts me in the 60% so for me investing tax free would appear to be the way forward although I admit VCT and Capital Gains are beyond my current thinking!
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stevio
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Post by stevio on Feb 8, 2017 11:48:18 GMT
Company structure, Personal Pension payments to extend tax bands, VCTs and others, Dividend Allowance, Capital gains vs IT etc etc Again all great ideas but I'm employed so I won't be changing the structure, pension is maxed and pay puts me in the 60% so for me investing tax free would appear to be the way forward although I admit VCT and Capital Gains are beyond my current thinking! Not saying its not wise to look at tax free savings, just that you might make bigger savings elsewhere (that require similar levels of research and understanding needed, that you should be doing for P2P investing!)
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pom
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Post by pom on Feb 8, 2017 11:55:12 GMT
Company structure, Personal Pension payments to extend tax bands, VCTs and others, Dividend Allowance, Capital gains vs IT etc etc Again all great ideas but I'm employed so I won't be changing the structure, pension is maxed and pay puts me in the 60% so for me investing tax free would appear to be the way forward although I admit VCT and Capital Gains are beyond my current thinking! It'll take a long time to build a big enough ISA that will earn more than you can get if you can fully use your CGT allowance...
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Post by Deleted on Feb 8, 2017 12:43:05 GMT
Again all great ideas but I'm employed so I won't be changing the structure, pension is maxed and pay puts me in the 60% so for me investing tax free would appear to be the way forward although I admit VCT and Capital Gains are beyond my current thinking! Not saying its not wise to look at tax free savings, just that you might make bigger savings elsewhere (that require similar levels of research and understanding needed, that you should be doing for P2P investing!) There's no doubt I'm a bit wet behind the ears regarding some of your suggestions. Have never even read about VCT, where or how do you go about utilising your CGT allowance?
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Steerpike
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Post by Steerpike on Feb 8, 2017 14:01:36 GMT
Not saying its not wise to look at tax free savings, just that you might make bigger savings elsewhere (that require similar levels of research and understanding needed, that you should be doing for P2P investing!) There's no doubt I'm a bit wet behind the ears regarding some of your suggestions. Have never even read about VCT, where or how do you go about utilising your CGT allowance? Perhaps an accountant and/or financial advisor would be able to help.
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Post by sayyestocress on Feb 8, 2017 15:39:28 GMT
4.7% max - worth 5.8% to a 20% tax payer, and 7.8% to a 40% tax payer. Not very useful. Congratulations though to LW. That was my thinking, too. Might as well just stick money into a low cost passive stocks and shares fund within an ISA and you should out perform it if an ISA is where you want to put the money. Though I guess if you want to limit your exposure to the stock market it might make some sense. For me the IFISA won't become interesting until some of the 10%+ P2P platforms (MT, COL etc.) come on board, perhaps even a BM ISA if they're still looking at 7%+ after fees/losses if they launch one.
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stevio
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Post by stevio on Feb 8, 2017 15:44:52 GMT
4.7% max - worth 5.8% to a 20% tax payer, and 7.8% to a 40% tax payer. Not very useful. Congratulations though to LW. That was my thinking, too. Might as well just stick money into a low cost passive stocks and shares fund within an ISA and you should out perform it if an ISA is where you want to put the money. Though I guess if you want to limit your exposure to the stock market it might make some sense. For me the IFISA won't become interesting until some of the 10%+ P2P platforms (MT, COL etc.) come on board, perhaps even a BM ISA if they're still looking at 7%+ after fees/losses if they launch one. Your also constrained to one platform with the IFISA (at least initially). Where as a with a most S&S ISA's you have plenty of choice and diversity. Or just flexible cash ISA it from and to your preferred platform and live with the tax
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Post by easteregg on Feb 8, 2017 16:57:59 GMT
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rogerbu
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Post by rogerbu on Feb 8, 2017 18:37:36 GMT
An e-mail from Money&Co. They now have full FCA approval (was Interim) and expect to shortly offer an IFyISA
I don't see their name on the HMRC Approved ISA List above, but that may be a timing issue.
Hopefully the FCA logjam is about to disapear.
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pom
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Post by pom on Feb 8, 2017 19:02:19 GMT
Hopefully the FCA logjam is about to disapear. Given the approvals have mostly been tiddlers so far I won't be holding my breath
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Post by Matthew on Feb 8, 2017 19:04:12 GMT
Hopefully the FCA logjam is about to disapear. Given the approvals have all been tiddlers so far I won't be holding my breath "Tiddlers"?! Thanks pom
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