Legal & General Share Discussion Threads

[netcurtains] 27/9/2024 07:13

In my comparison chart ABDN relative share price rise has now overtaken LGEN and MNG

[andyadvfn1] 27/9/2024 07:07

Re VAT, except when the fly out of Heathrow on their frequent trips and claim back the VAT paid on the expensive jewellery they bought

[cwa1] 27/9/2024 07:05

The dividend has landed safely in the account this morning.

Happy days :-))

[netcurtains] 27/9/2024 06:51

At least Non Doms pay VAT... If we get rid of VAT they will be living tax free.

Pension industry might gain a bit if the AIM anomaly was removed

Its quite possible that Labour will remove the anomaly whereby
you dont pay inheritance tax on AIM shares but you do on FTSE...
This might mean some long term investors are moving out of AIM
into different investments including pensions and the FTSE (including LGEN).

[yf23_1] 26/9/2024 22:21

obfuscation - politics (and tax) in a nushell.

e,g
VAT is applied after fuel duty, so, for example, the pump price of a litre of petrol currently reflects the pre-tax price plus 52.95p for fuel duty plus 20 per cent VAT on the pre-tax price and a further 10.59p for VAT at 20 per cent on fuel duty.

[pete160] 26/9/2024 21:48

No politician wants to simplify the tax system as it gives them so many levers to pull to squeeze more tax as well as the fiscal drag opportunities on the thresholds and reliefs.Imagine if the only tax was income tax. It would be so transparent as to whether people's tax take was going up or down.

[davius] 26/9/2024 11:12

netcurtains, re the comment with II share prices at 4:30pm.

I notice the large jump in portfolio value too, it's simply because II puts the share price at the mid price of any auction for each stock you hold. LGEN, VOD, PRU, all of the large companies end with a five minute (or sometimes extended) auction period. If you always find LGEN higher then it suggests someone puts in bids at a much higher price than the closing price, knowing that in the auction they'll still get them traded at the auction price. Usually by 16:40 it settles, I take closing prices to value my portfolio at 16:45. I assure you it's nothing to do with dividends or yields.

[dope007] 26/9/2024 10:27

The tax system is a complicated mess because politicians lie every election about it. Their way round the no income tax increases has been massive complications that have cost a great deal more to collect.

We need someone to stand up and simplify the whole damned thing and it that is higher income tax but get rid of the myriad of sly, nasty side taxes then so be it.

[pogue] 26/9/2024 09:47

I think you are missing the hints from Labour they hate people with money and want to protect the 'workers'. If you dig into that word you will find Kier's view is a worker is someone who works but has no savings. So pensions are a prime target. Add in the raid on pensioners was the first target Labour hit on getting into office.

Personally I think the 40k cap will be reintroduced. The Tories brought it up to encourage senior consultants in the NHS to work as they were getting such high taxes and salary sacrfice was the way round it. I dont expect Labour to have any symapthy for them even if it hits the NHS they will just blame the Tories and gloss over the pension issue as not many people understand it.

I also expect the 25% tax free lump sum to be capped at £100 000.

If the £100k cap came in I would stop contributing and the £40k limit would stop me taking some jobs that previously I would have considered.

I cannot see PAYE being touched as that effects the 'workers'.

[mcunliffe1] 26/9/2024 09:26

The £60,000 annual allowance might be reduced. Back in tax year ending April 2023 it was £40k. This may be introduced immed. after the budget.

A reduction in the cap on tax free cash withdrawal from the current £268,275 could prove to be a major problem for some who have anticipated extract that sum to perhaps pay off mortgages. I would suspect such a change would not be implemented immediately.

A change to the tax relief currently given at a savers marginal tax rate would also have major implications for both employers and employees and have a massive impact on PAYE systems. Again, I'd doubt that would be implemented immediately.

I'm unsure how the chancellor can realistically obtain relatively quick access to additional taxation without creating serious problems. Rather, implementation especially of the flattening of tax relief for all, may be introduced in April 2025 giving time to make the tax system adjustments.

PAYE employees would thus provide an (almost) instant boost to the public coffers as they would be paying more tax. Others outside the PAYE system would simply recover less tax relief upon their self-assessment submission in the following year.

Of course, she may not touch pensions at all and instead hit other areas and hope the large, collective sigh of relief masks the reality we will be hit with in the form of IHT, CGT and increases in duties on any number of items.

[tuftymatt] 26/9/2024 08:58

Everything has been talked about but nobody knows for sure what will happen on the 30th October.

I would bet even RR doesn't know exactly what's to come at this stage so I will top up my SIPP on Monday with double the normal monthly amount just in case there is an instant negative change delivered late next month.

Good luck all 👍🏻

[pogue] 26/9/2024 08:33

I dont comment here normally as nothing that important usually happens but the forthcoming budget is a major concern to the pensions industry. I personally will stop contributing if some of the potential changes happen. Does anyone have any further information on Labour's probable attack on the industry. City AM have given suggestions.



‘Pension ‘death tax’
Another potential option for Reeves is to reduce the extent of tax relief on pension contributions.
A report released by the Fabian Society outlined a swathe of options which, cumulatively, could raise around £10bn per year.
Existing tax reliefs, the think tank argued, are weighted in favour of the rich. Although upper-and top-rate taxpayers account for 19 per cent of those paying tax, they received over half of the tax relief on pensions in 2022-23.
The Fabian Society outlined a range of measures which they argued would create a fairer system, most prominently by cutting the amount pensioners are able to withdraw from their pension pots without paying tax.
The think tank also suggested that pensions should be subject to inheritance tax and that there should be a flat rate of relief on contributions.
Currently, pension contributions are tax deductible, with the extent of tax relief depending on someone’s marginal tax rate.
Other think tanks, such as the IFS, have cautioned against introducing a flat rate of tax relief, although there is broad agreement that some of the more generous tax breaks could go.
The calls have sparked concerns of a pension ‘death tax.’

[pierre oreilly] 26/9/2024 08:09

Net, your question as to the 16:34 quotes.Well prices are only relevant during times the market is open, 08:30 to 16:30. Outside those hours the prices are meaningless. The closing prices are some predefined function of the 16:30 price and out of hours trades after which some broker is tasked to put into the system about 10mins after close. The next days opening prices are usually a bigger spread than the closing price (not the 16:30 price). Most priced you see during the day, if from advfn and most others, are 15m delayed, you usually have to pay for realtime prices).

[goldgeezer] 26/9/2024 06:30

Holding this whilst reinvesting the dividends could see a doubling in capital in 7.5 years

[cassini] 25/9/2024 22:26

The downvoter got upvoted 10 times - Oh the irony ;0)

Very succinct comment though ;0)

[action] 25/9/2024 22:09

Just follow ADVFN for price. Much accurate

[netcurtains] 25/9/2024 17:37

Tag57: I know that. Its just the 4 minutes I'm interested in. The rest is different .

[tag57] 25/9/2024 17:08

Net, this happens with HL too, for a while after the market closes my portfolio value and share price prices are all over the place. I give it 15-30mins and then check otherwise it is a mess.

[jubberjim] 25/9/2024 16:59

Net step back and take a look again

I generally think that the price displayed is widened to 5 % either side of the last closing price

The bid will be 5% below and the offer will 5% above

Ergo lgen actual price 225
Bid will show as 213.75 offer will show 236.25

All too often the offer price will be the price displayed at close hence the confusion as to reality

Incidently you could try using the word thanks on occasion when people try to help

All the best

[netcurtains] 25/9/2024 16:14

Thanks - I know its LGEN but I cannot vouch for other stocks.

[mcunliffe1] 25/9/2024 16:10

net: I can only offer my opinion that to purposely show a price inclusive of the dividend for the few minutes between 4:30 and about 4:35pm would seem pointless to me. A complexity that would serve no benefit.

There will also be companies that don't pay a dividend - Rolls Royce would be a good example and I hold these. If I think on I'll check your logic tomorrow at 4:31 as I'm also with ii.

[netcurtains] 25/9/2024 15:54

I logged on to ii at 4:34pm...
The LGEN price displayed was 9% more than the "real" price.
I know you said that its the biggest after hours bid price and perhaps it is -
but perhaps that biggest bid price is always the price plus the dividend...

I say this because its always a lot bigger than the max spread price.

[bargainsniper] 25/9/2024 11:17

a very expensive pair of glasses the pm is wearing