Attention: Please take a moment to consider our terms and conditions before posting.
Savings and Investments thread
Comments
-
Maths.Rob7Lee said:
I went for 5 years (Thanks Golfie :-/:smile:) but got in last year when 5 year fixes were sub 1%, was a no brainer at that rate. The 5 years are now over 1.5%, 2 years a bit over 1%.Oh_Yoni_Boy said:Quick Qs for the more financially astute folk in this thread... and apologies if it's a bit basic.
Mortgage has just come up for renewal, it seems to me like it's a good time to go for a long-term fixed rate given that the base rate was a vote away from going 0.25% higher and it's trending up. Would you go for as long as 5 years fixed or is that a bit extreme? There's no real risk of downsizing etc.
Do the math and include fee's, I'd work on the basis that a 2 year fix in 2 years time will be 1.75-2%.3 -
Bloody HMRC… I have a Lloyds staff mortgage start of tax year 21/22 balance about £49,000. HMRC declared interest rate is 2.25% so they say anything I have under that is a taxable benefit. I have been paying 0.1%. So roughly on my £49000 they say I should pay £1102. I actually paid £49, so a benefit of £1053. My Tax code has deduction of £1546.
Now last year I paid off £6,000, so going into next Tax year balance is about £43,000.HMRC have given me a tax code for 22/23 that has a deduction of £1546 for my beneficial loan.So last year it should have been £1053, pay off £6000 an HMRC make it £1546.
So on a look back HMRC have deducted £1546 from my code for 2018/19 2019/20 2020/21 2021/22 an now trying for 2022/23.SO ANYONE WITH A STAFF RATE MORTGAGE TAKE A LOOK, YOU COULD BE OVERPAYING HMRC….0 -
HMRC are utter shit. Excuses for everything, can't get a lot of the basics right EVEN WHEN YOU TELL THEM ON THEIR OWN FORM. Dont give me "but Covid" as an excuse, other organisations have managed not to be crap, but they slowed right down and carried on making the same mistakes as always. And yet send one thing to them in seconds late and they're issuing penalties like confetti. Bastards.2
-
No one is forcing you to have a staff mortgage. You could easily re-mortgage to a different lender & not incur any BIK.RaplhMilne said:Bloody HMRC… I have a Lloyds staff mortgage start of tax year 21/22 balance about £49,000. HMRC declared interest rate is 2.25% so they say anything I have under that is a taxable benefit. I have been paying 0.1%. So roughly on my £49000 they say I should pay £1102. I actually paid £49, so a benefit of £1053. My Tax code has deduction of £1546.
Now last year I paid off £6,000, so going into next Tax year balance is about £43,000.HMRC have given me a tax code for 22/23 that has a deduction of £1546 for my beneficial loan.So last year it should have been £1053, pay off £6000 an HMRC make it £1546.
So on a look back HMRC have deducted £1546 from my code for 2018/19 2019/20 2020/21 2021/22 an now trying for 2022/23.SO ANYONE WITH A STAFF RATE MORTGAGE TAKE A LOOK, YOU COULD BE OVERPAYING HMRC….
Also checking your tax code is your responsibility.1 -
I never inferred anybody was….. I can pay the thing off tomorrow. However, as a financially astute man, I would think you would agree. That my low rate, even with BIk, costs less than I can invest the mortgage money for. I make money out of keeping it.
The point I was making was that HMRC are able to get even the most obvious maths wrong. An that we should as you say NOT trust them to get it correct.0 -
There is a great line from Sir Humphrey Appleby is Yes Prime Minister when they are discussing tax.RaplhMilne said:I never inferred anybody was….. I can pay the thing off tomorrow. However, as a financially astute man, I would think you would agree. That my low rate, even with BIk, costs less than I can invest the mortgage money for. I make money out of keeping it.
The point I was making was that HMRC are able to get even the most obvious maths wrong. An that we should as you say NOT trust them to get it correct.
He says the Treasury doesn't work out what they need in regard to spending & then decide how they are going to raise it.....but simply tax as much as they can & then decide how to spend it.
HMRC benefit from taking as much as possible & then you have to fight to get it back if they get it wrong.0 -
Ok...so Putin has started his war and God help the Ukrainians. Hopefully it won't escalate into a full blown world war. In the meantime the stock markets are plummetting globally. Now the question is...has anyone any advice on if now is a good time to buy...? Or do we think it's going to keep going down - any thouights?0
-
No harm throwing a bit of money into the markets. Year to Date Europe, US & Japan are down almost 12% with the UK down around 4%. Hong Kong is down less than 2%.CafcWest said:Ok...so Putin has started his war and God help the Ukrainians. Hopefully it won't escalate into a full blown world war. In the meantime the stock markets are plummetting globally. Now the question is...has anyone any advice on if now is a good time to buy...? Or do we think it's going to keep going down - any thouights?
They say buy on the dips - no one knows where the market is going short term but long term it will recover. Could put in a chunk now & wait & see. Depends on how much you have to invest & how long you have until you need it out again. We are coming to the end of the tax year & so I have a few clients looking to max out their ISA's so not a bad time to put in £20k - if you have it of course.1 -
Not going to disagree too much with Golfie but oil at $103 (and gas futures up 33% today!), economic growth will be lower than previously forecast. Most companies worth worth less than they were probably. Could be a bumpy ride0
-
US markets are just bonkers. Total 180 degree turn with the Dow ending up almost 0.3%, the S&P500 up 1.5% and the NASDAQ up 3.34%
did I miss something ? Has Putin surrendered ??
I suppose it is the 3rd Thursday in the month if anyone knows their history.0 - Sponsored links:
-
Nobody has a clue at present regarding Putin's intentions.golfaddick said:US markets are just bonkers. Total 180 degree turn with the Dow ending up almost 0.3%, the S&P500 up 1.5% and the NASDAQ up 3.34%
did I miss something ? Has Putin surrendered ??
I suppose it is the 3rd Thursday in the month if anyone knows their history.0 -
I'm 60, my pension fund is split cash 45%, bonds 15%, equities 40%. All invested in Fidelity/L&G funds. I don't often switch it around. Looking at recent volatility is my equity exposure a little high? I'm not looking to touch the fund for at least 5 years. Any sensible advice welcomed. I do top it up each year to the max, normally the cash portion, and work still pays in. Cheers.0
-
I would say that you are over invested in cash, but seeing as your Bond portion is relatively low then I'd say you're about right, although still a bit underweight in equities. A lot of Bonds are giving negative returns atm so holding cash is probably a sensible ploy......but not for too long. You should have bought equities yesterday because most markets are up 3%+ today !!wwaddick said:I'm 60, my pension fund is split cash 45%, bonds 15%, equities 40%. All invested in Fidelity/L&G funds. I don't often switch it around. Looking at recent volatility is my equity exposure a little high? I'm not looking to touch the fund for at least 5 years. Any sensible advice welcomed. I do top it up each year to the max, normally the cash portion, and work still pays in. Cheers.
I'd say that your portfolio is akin to someone on the low risk side of things- probably a 3 or 4 out of 10. Main question is, what are you going to do at retirement ? If buying an annuity then fair game but if you are going to stay invested & go into drawdown then your actual retirement date is not that relevant as you'll be "investing" up until you die.0 -
Cheers yes am pretty risk averse despite having been a trader myself for many years in FX and interest rates. Never really was able to suss out stock markets though, hence my reluctance to be over invested there. Appreciate your input and thoughts though. I’ll wait for another dip! Cheers.golfaddick said:
I would say that you are over invested in cash, but seeing as your Bond portion is relatively low then I'd say you're about right, although still a bit underweight in equities. A lot of Bonds are giving negative returns atm so holding cash is probably a sensible ploy......but not for too long. You should have bought equities yesterday because most markets are up 3%+ today !!wwaddick said:I'm 60, my pension fund is split cash 45%, bonds 15%, equities 40%. All invested in Fidelity/L&G funds. I don't often switch it around. Looking at recent volatility is my equity exposure a little high? I'm not looking to touch the fund for at least 5 years. Any sensible advice welcomed. I do top it up each year to the max, normally the cash portion, and work still pays in. Cheers.
I'd say that your portfolio is akin to someone on the low risk side of things- probably a 3 or 4 out of 10. Main question is, what are you going to do at retirement ? If buying an annuity then fair game but if you are going to stay invested & go into drawdown then your actual retirement date is not that relevant as you'll be "investing" up until you die.0 -
Long time lurker on this thread. Just considering my ISA options for the new upcoming tax year. Interested in any experience on IFISA's in particular views on the Kuflink offering0
-
Bumping this for you seeing as I have no clue what you mean. Googling Kuflink gives me a Peer-to-Peer lender in Gravesend and googling IF ISA's gives me Innovative Finance ISA's. Not something I have knowledge on or licence to advise on.Froggy66 said:Long time lurker on this thread. Just considering my ISA options for the new upcoming tax year. Interested in any experience on IFISA's in particular views on the Kuflink offering
I will say though, if its your first foray into investing it might be best to go down the standard ISA route.0 -
£25 for me.0
-
Nothing for me in March
0 -
2 x 25 for me.
1st time I've got more than one0 -
£50 each for me and the missus, £50 for my Mum, £25 for the late mother in law.0
- Sponsored links:
-
2 X £25 for me
0 -
Nothing for me, £25 for Mr F0
-
And how did @Rob7Lee 's father in law do?
Always makes me chuckle that he has won every month for as long as I can remember!0 -
3x£25. Then get a letter though post £615 overpayment from last job fuck sake 💪0
-
Maxed out on PBs. Zero this year....!0
-
Going to be tricky having the balls to throw 20k into the markets in April. So much uncertainty that may mean drip feeding is a better ploy this year (for me).0
-
Stick it in a decent ISA, by decent I mean not a high street bank one.mendonca said:Going to be tricky having the balls to throw 20k into the markets in April. So much uncertainty that may mean drip feeding is a better ploy this year (for me).0 -
No its not my first foray and yes those are the things I was asking about but note your skepticism accordingly, especially as you are an experienced voice around here. Thanksgolfaddick said:
Bumping this for you seeing as I have no clue what you mean. Googling Kuflink gives me a Peer-to-Peer lender in Gravesend and googling IF ISA's gives me Innovative Finance ISA's. Not something I have knowledge on or licence to advise on.Froggy66 said:Long time lurker on this thread. Just considering my ISA options for the new upcoming tax year. Interested in any experience on IFISA's in particular views on the Kuflink offering
I will say though, if its your first foray into investing it might be best to go down the standard ISA route.0
