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  1. Yes, this is complicated No surprise with government policy I suppose! Basically if you've taken a pension and are not a UK taxpayer you can pay £2880 back into a pension and get the 20% tax relief. See here; If you have taken a pension and you are a UK taxpayer (it could be you pay tax on your pension you have made live), you can pay the full £4000 a year back into a pension and get the 20% tax relief. See here; I must admit it really is as clear as mud Only really relevant for those nearer to taking a pension or contemplating it. These are the sort of government rules that will quietly got rid of by any future (more) cash strapped government a la Gordon Brown. For the younger guys n girls on here you need to keep your eye on it as it will be changed!
  2. I took a pension in 2015 under the new rules as a small lump sum payment. As soon as you access any pension you are restricted to the MPAA, which that year was £10,000 but dropped to £4000 a year later Further more if you are a Non Taxpayer a £2880 limit is applied for tax relief, see As DB says you need to be looking at Draw-down to minimize tax, and topping up using ISA's. Pensions have become very restrictive for you at this point.
  3. NogintheNog

    The countdown to US$100 Brent crude thread

    Agreed. Interesting that when Oil hit $150 dollars a barrel in 08 it was $2=£1, so effectively £75 a barrel. So at $1.3=£1 and $80 a barrel = £61.5 a barrel. Still a fair way to go in sterling terms... Saw that OPEC and the Russians told Trump to do one on his request for cheaper oil yesterday, maybe they can see that day of reckoning coming??? Ironically even the Frackers in the US don't want a lower price!
  4. A different view from Harry Dent. Not sure I agree with him.....
  5. I have a holding in BT, probably slightly down at the moment as I've averaged in. My only concern with BT is the possibility that the regulator forces a split with the Openreach division being hived off. I used to be an Engineer with Openreach and the value of the Company was in the Copper network to consumers houses and the Fibre DSLAM network. I used to do installations on behalf of Sky, TalkTalk, Vodafone etc. Those Companies are very critical of the ownership of Openreach by BT. To my mind that would make BT worth a lot less than it is now! Not sure how that would work, but possibly Openreach taken into Government public ownership, effectively re nationalized??
  6. DB. Looks like a very sensible approach, as you say at some point you are hopefully at the bottom of said staircase! I have Centrica, and anything below £1.30 and I'll buy more, although I think the dividend may be cut in the not too distant future.
  7. Agreed, Sterling is being debased by BofE policy. I think we are all well aware of the 'easy' options that CB's will take. Comparing the price of a UK house to the old standard of money you get this; Now, to get back to that 2003/4 top, Gold would have to be at about £290 an ounce, or approx $370 US an ounce. As it costs about $900 to get it out of the ground clearly that can't happen. Or we could go back to the 1980's when 75 ounces of Gold bought a house, which would mean Gold would go to approx. £2820 per ounce, or $3600 US an ounce. Alternatively we could just have the price of Gold stay where it is, and have a 60% drop in house prices.... Where are we headed????
  8. NogintheNog

    Total Novice needs some advice

    HL have a web based user interface for choosing your level of risk for fund buying, I checked it out the other day as I'm thinking of moving some pensions into a SIPP with them so I can use the 'Drawdown' option in a few years. The problem with the stock markets is their ability to destroy wealth over shorter periods of time, think of 99-03 and 07-09 for the FTSE. Near on 40% drops - ouch. However if you have spare funds then investing in an ISA is a great way to build 'untaxed' wealth. But you are not going to do this quickly unless you are very lucky! You need to be playing a medium/long term game here. I am lucky that I think I can stomach the pain when it hits, I could run with a 40% drop right now (I own lots of individual stocks in an ISA), and I am pretty sure I know what assets I would be buying if such a drop occurred. Not sure I'd actually enjoy the ride though! To give a good example of how Mr Market can flummox you, I bought Rio Tinto shares 5 years ago for about £27.50. They had a 5% dividend yield which I collected for the 3-4 years which I owned them. All good so far.... The price of Rio Tinto (RIO:LON) dropped all the way down to £17.50 ish. I hung on... The price then recovered and gradually passed my entry point of £27.50 and when it got to £31.50 I ran for cover and sold out. Basically I'd done alright, some capital appreciation and 3-4 years of 5+% dividends. They are currently sitting at £38+! The point is, I should have just hung onto them!! Rio Tinto ain't gonna go bust tomorrow, and of course in hindsight I should have bought some more at £17.50 The good thing is I leaned some lessons (I still am), and have applied some of them since... I think this is the point that the Admiral and Dgul are making along with this; There will be costs, I pay £11.95 per trade, selling or buying unless I trade lots in any quarter. There is also stamp duty on UK shares (google it), and usually a platform fee. Remember also you can have up to £2000 of dividends untaxed outside an ISA, but alway use your full ISA allowance first (currently £20,000). You can also move cash ISA's to a trading account and visa versa. I also like to keep some cash on the sidelines inside the ISA for buying opportunities! Just make sure you know what ALL of your costs are. Be careful, and maybe diversify a small portion into some 'protection' stocks, like gold miners in case or when we get another 2008 moment! And finally read this thread!!!!!!!!!!!
  9. I totally agree. They've been hamstrung by their own 'forward guidance'! Now the 'forward guidance' is that any future increases “are likely to be at a gradual pace and to a limited extent” and said that the outlook for the economy could be “influenced significantly” by Brexit. Behind the curve though, should have done this earlier. Presumably gradual pace means glacial and certainly less than the real inflation rate. Can't see 0.25% having much initial impact, any bets for savings rates to go up???
  10. That depends really on how much of your portfolio is in gold. If you have a £200,000 portfolio, with £190,000 in gold/equities it would be like riding the hulk..... But who in their right mind would do that????
  11. PS. I'm down on VOD. But it's a keeper for me.....
  12. I think a rate rise in the UK is priced in to some degree, so any action is going to be very muted. To think of it from a different angle, just think how hard it has been for the BofE to get to the position where they 'may' raise rates by 25bpts. How hard will the next increase be? As you say sleepwello'nights the currency masks £ weakness. We'll find out this week if they have any balls for this when that Carney makes yet another bshit speech.