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I know through friends of friends some people who are involved in that level of gvt planning, etc. I can see from their LINKEDIN posts that they think the seizure of russian assets is fine, long overdue. There is NO thinking about the negatives and what it means for western wealth long term. These are people you will see appointed to top government roles, board of public organisations, etc. fucking clown world.

Anyone seen my Poly.?

Guess that's my Gazprom finally gone. Perhaps I should just have gone to Moscow afterall to Gazprom offices lol. Don't blame Vlad for that, just our idiot leaders. Not only is it tit for tat, it's 288 billion unfrozen which will pay for a few years of the Russian defence budget.

Il do a full years on my 55th birthday or the day after,then likely do them every 4 months from the following April in the next tax year.

The bit that gets me is they vote to give weapons to Taiwan, seize russian assets then Blinken and Yellen fly to China to beg Chinese to buy USTs. It's so out of touch.

Why am I not surprised an MIT professor would say something as stupid and hubristic as 'so what?' Apart from trashing your reputation as a safe haven to store assets and the international reserve system established in 1922 , two can play at this game. The Russians played the long game here - they knew they were never going to see those assets again but wouldn't / couldn't reciprocate whilst they were frozen. Now they have been officially stolen they have the necessary cover to do the same to the West. The tit for tat asset swapping here though is not as significant long term as the trashing of the reserve system IMO - we're back to the return of capital being more important than the return on capital and an acceleration of the building of an alternative global system of trade and finance outside the control of the West.

'"Oh, that was easy," says Man, and for an encore goes on to prove that black is white and gets himself killed on the next zebra crossing'. HGTTG.

Cloggy here! You'd best get that doubled checked. Drawdown entitles you to an initial 25% tax free payment before receiving the rest as taxable income. UFPLS entitles you to a series of payments of which 25% of each is tax free. I'm not sure you can UFPLS and then switch to drawdown and then take the upfront 25% tax free payment, plus probably not the full 25% anyway as you have already taken some tax free. Btw, I believe the 25% is limited in total to 25% of the (old) LTA regardless, if applicable. PS: Personally, I would only take such financial advice over a few sheets of blank paper and a pint! Even here I've needed two G&Ts!

I was going to ask if that’s where the 4x4 drowned. that property keeps coming back on the market. Ive never worked out whether it sold or not

Been out there a couple of days, surprised no one really commented on it. Guess no one cares about the ECB. Does this mean a reduction in interest rates in June is almost certainly on the cards? We have been very clear: if things move in the same direction as they have in recent weeks, we will loosen our restrictive monetary policy stance in June. Assuming there are no surprises between now and then, as you say in French, it’s a “fait accompli”. Interview with Le Monde (europa.eu) Interview with Luis de Guindos, Vice-President of the ECB, conducted by Éric Albert on 16 April 2024 and published on 23 April 2024

I like this. Its funny. ECB will need more rate cuts if Fed holds back, says policymaker Head of Italy’s central bank highlights risk of US stance pushing up global borrowing costs https://www.ft.com/content/0112fe8d-856f-43aa-9bbb-c2106b00b5d6 The European Central Bank is likely to need extra interest rate cuts if global borrowing costs are pushed up by the US Federal Reserve maintaining its restrictive monetary policy stance, a top eurozone policymaker has said. Fabio Panetta, head of Italy’s central bank, said in a speech on Thursday that if the Fed keeps rates on hold longer than markets expect, or even raises them, it would be “likely to reinforce the case for a rate cut [by the ECB] rather than weakening it”.

Good double post from Kathleen Tyson spelling out the implications of expropriating Russian assets. Consensus amongst US and aligned is that it's no big deal. The complacency is shocking.

This lifestyle property with stunning scenery includes a farmhouse, cottage, and six acres This picturesque home - a Grade ll-listed period farmhouse within 6.4 acres and a holiday cottage known as Paddy Waddell's Rest, is for sale within a stunning section of the North York Moors National Park. https://www.thescarboroughnews.co.uk/lifestyle/homes-and-gardens/this-lifestyle-property-with-stunning-scenery-includes-a-farmhouse-cottage-and-six-acres-4604745?fbclid=IwZXh0bgNhZW0CMTEAAR2BGAQlu9DS8uWiDD2P4mO4A7OFPqcwSPPSFwrJyElA6hrtc39AxBmuwUY_aem_AZVR3iAjei9wtjXj7dMTc_coADBFouZda6gH9voioQElxjNlKodt1lNtTNt9sRuCfKA02HgRv3ZM32XAAR603N6F Fishing and 4x4 salvage rights....

Clog it up, I've rellies getting to same age but all they know about is the 25% lump sum as I said about it while they doze off to Netflix not bothering their arse. Didn't know about can take above the £12570 ish as some kind of 25% tax free amount AND a 25% lump sum later?

Thank you for the reply DB, I don't want to clog the thread up, but I presume this withdrawal would be once a year rather than say monthly?

There's potentially more with UFPLS (e.g. here) but best I suggest advice is sought.

It is,i will be doing it.You can draw £16700ish pa tax free using your allowance and 25% tax free.I will go into full drawdown and take the full 25% tax free cash the year before State pension age unless im way over IHT still in my ISA.If i am il leave the SIPP alone and run ISAs down etc.These allowance freezes are a nightmare.The Tories could of lifted them before they get booted out,no way Labour will. UFPLS means 25% of what you draw out is tax free,but the pension is not in drawdown,its just lump sums.When you put in drawdown you take the full 25% tax free at once.You used to have to go into drawdown at 75,not sure if you still do with new pension freedoms.

Looks like Exxon had already stuffed some UK firm way before this in Dec 22. HOUSTON, Dec 9 (Reuters) - Exxon Mobil Corp (XOM.N), opens new tab on Friday closed a $407 million sale of its operations in Central Africa's Chad and Cameroon to London-listed firm Savannah Energy PLC (SAVES.L) Exxon has been exiting African operations with declining crude oil production to focus on its massive liquefied natural gas (LNG) project in Mozambique and on more lucrative operations in the Americas. It recently retired a platform in Equatorial Guinea and is preparing to leave that country. https://www.reuters.com/business/energy/exxon-completes-sale-chad-cameroon-operations-407-million-2022-12-09/

Are there no depths they won't sink to?

Chad move!

Thats huge,yet like you say not well known,i didnt know it.

Now they want to talk about revisions data.

That's not what I call 2FA. If you're in a bad signal zone (which I am) it is useless. Proper 2FA uses at least "TOTP" timed one-time protocol which is to say the frequently encountered thing where you get a six-digit number, changed every 60 seconds, and you have to type it in. Even better is X.509 client certificate access - as used when you login to the Spanish equivalent of HMRC "Agencia Tributaria"

It is all a bit confusing for little old me. I have been letting cash build up if the 25% is the best option. Sure its called uncrystallized withdrawals UFPLS, not tax free if I understand it correctly.