Print

Please login or register.
1 Hour 1 Day 1 Week 1 Month Forever
Login with username, password and session length

[Field Marshal Dr. Opti]

We keep a few grand in ISAs as an emergency fund instant access if we need it,  the rest is all in premium bonds had them since 2021 and no word of a lie we've won a few quid every month since we've had them,  don't know anything about stocks & shares and certainly at this stage in our lives don't see the point.

You don't need to know anything about stocks and shares, Mick. You just hand over your dosh to a fund manager and they invest it for you, according to chosen risk level. Then they take a cut every year now matter how the fund performs. 

. 

That would mean putting trust in somebody with our cash , what could possibly go wrong ?

That's what we thought about 30 yrs ago ..... the name of the advisor should have been a clue .... he was called Grantham Fidler!

Grantham? Was he from Lincolnsausageshire? Could have been a young Opti, always wondered about him.

Nah.....thirty years ago I was only 7.

[STEMO]

https://youtu.be/v6xdOxXcJxI?si=xogfVLMBkBu6NmJk

[Field Marshal Dr. Opti]

https://youtu.be/v6xdOxXcJxI?si=xogfVLMBkBu6NmJk

Dad's in jail for racist tweets......

That will never happen in GB.

[Mr Skrunts]

Something interesting for those who can afford it.  Not sure if this was done during the budget, but thinking maybe not the case as most changes start April 2026.

The £85,000 savings rule refers to the Financial Services Compensation Scheme (FSCS) protection limit per person, per UK-regulated institution, if a bank, building society, or credit union fails.

From December 1, 2025, this limit will increase to £120,000, providing higher protection for most savers, though the £85,000 limit remains relevant for claims on failures that occurred before this date. It is important to note that this limit applies to the total across all accounts at a single firm, not per account.

Joint accounts: For joint accounts, each person is covered up to the £85,000 limit, meaning the total protection for a joint account is £170,000 (£85,000 for each person). Guessing this means £240,000.

[STEMO]

Even less chance of Revolut getting a banking licence then

[LC0112G]

Another one I heard from Martin Lewis yesterday evening, pensioners will not have to pay income tax on their state pension, even if/when the pension exceeds the 20% tax threshold, which it will do in 2027.
However, they will have to pay tax on their occupational pension.

Penson income has always been subject to tax, it's just that the SP has always been less than your personal allowance, so the applicable tax rate is 0%. The SP is always payed as the first tranche of your income.

What happens at the moment is the amount of your SP is deducted from your personal allowance. So if your SP is (say) £10K, and the 'normal' personal allowance is £12570, then your tax code will be 257 (12570 - 10000 = 2570), rather than 1257. This means any other income provider (work, occupation pension or private pension) will pay the first £2570 tax free, and then deduct 20% on everything above that.

If/when the SP exceeds £12570 it makes no sense for the govt to pay it all out, and then HMRC try to claim it back in tax. It would get really messy for pensioners whose only source of income is their SP. They'd end up filling in self assesement tax returns every year.

There must be some people whose SP already exceeds their PA. Anyone on the pre 2016 system with significant S2P/SERPS could be receiving close to £16K. I wonder how that is treated at the moment?

[ronnyd]

Another one I heard from Martin Lewis yesterday evening, pensioners will not have to pay income tax on their state pension, even if/when the pension exceeds the 20% tax threshold, which it will do in 2027.
However, they will have to pay tax on their occupational pension.

Penson income has always been subject to tax, it's just that the SP has always been less than your personal allowance, so the applicable tax rate is 0%. The SP is always payed as the first tranche of your income.

What happens at the moment is the amount of your SP is deducted from your personal allowance. So if your SP is (say) £10K, and the 'normal' personal allowance is £12570, then your tax code will be 257 (12570 - 10000 = 2570), rather than 1257. This means any other income provider (work, occupation pension or private pension) will pay the first £2570 tax free, and then deduct 20% on everything above that.

If/when the SP exceeds £12570 it makes no sense for the govt to pay it all out, and then HMRC try to claim it back in tax. It would get really messy for pensioners whose only source of income is their SP. They'd end up filling in self assesement tax returns every year.

There must be some people whose SP already exceeds their PA. Anyone on the pre 2016 system with significant S2P/SERPS could be receiving close to £16K. I wonder how that is treated at the moment?

That's what i was alluding to in my reply 60 of this thread. 

[Varche]

That might be the Christmas number one!

https://youtu.be/lAOAPYKGzZc?si=u8dTB1rv4C7pqm9U

This has a catchy tune.

True but the spelling is atrocious. Maybe that is not important to the new order