Lloyds Banking Share Discussion Threads

[k38] 26/3/2020 19:55

And stonedyou This is not over by any means.. Lloyds will need a lot of cash. Don't be surprise if you see once again the 34p or even 32p very soon .

[maxk] 26/3/2020 19:50

Also, cluelessness gets in the way.

[gaffer73] 26/3/2020 19:48

Lloyds do a DRIP scheme, check their website for details. You won't pay any tax until you reach 2000 pounds worth of all divi's for that year. No CGT until you sell(for a profit of course)

[daddy warbucks] 26/3/2020 19:39

Thanks Mr Elbe and ignoble.I have 162k of shares which I think would amount to around £3,700 if I take the dividend payment.I only bought them in the past few weeks. My average is 33.16p so I have no losses.If I take the scrip shares and held onto them would they still be liable for tax or would that only apply when I sell them.( it is my intention to hold them for some time).

[ignoble] 26/3/2020 19:27

If a dividend is taken in shares rather than cash it is known as a Scrip Dividend

Google Scrip Dividend and it may provide the answer that you are looking for...


Basically, by paying dividends in the form of Scrip, it saves the Company cash

[mr.elbee] 26/3/2020 19:14

CGT may be....applicable...and you have probably made massive losses and you can have a CGT allowance tax free of about £11k a year.

If you get more than 2k in divi payments you incur a liability for income tax..if you take the divi out of its wrapper.

I suspect your divi earnings are way below 2k..

I think if you sold the shares you took in lieu of cash you would then possibly incur a liability...but it would be at your current income tax rate IMHO

I' m not an accountant but unless you mention rough magnitudes, and your likely divis this year[which many think will be zero] few on this board could help you.

[daddy warbucks] 26/3/2020 19:06

Can anyone advise please as I haven't held a dividend paying share before and I want to avoid paying tax as far as possible.I hold a number of Lloyds shares and wondered if I could have my dividend payment in shares rather than cash. If so how do you go about it?Also, would the extra shares in lieu of the dividend be counted as a taxable item and thus notifiable?My tax situation at the moment is very simple and everything tax wise is paid through PAYE on my pensions. I don't have to submit any self assessment and would like to keep it that way as much as possible.Unfortunately I cannot put these shares in an isa as I have too many and in any case have used all my allowance for this year and will be looking to put another 20k into it in the next financial year.Any advice would be gratefully received.

[k38] 26/3/2020 18:54

Just an opinion. Based on charts which they don't mean a lot because of the virus effects on the future economy and among other thinks, but show the people's confidence to buy the low I can see more upside tomorrow...If we break above the 40p (if not, a reverse back to 36p) than 42p will be the new resistance forwards to long recovery.

[k38] 26/3/2020 18:42

Good to hear you are well. Stay safe.

[bargainbob] 26/3/2020 18:30

K38

Not much time at the moment , everything fine thanks for asking .

[k38] 26/3/2020 18:16

But I am worried about bankruptcies in a few months from now and business will need a lot of cash....

[k38] 26/3/2020 18:14

Going long it's good (plus divi..) but my strategy always is in and out. No bothered with dividends. So far works well for me.If no more surprises Lloyds will see 65p end of summer.

[maxidi] 26/3/2020 18:12

A profit is a profit but I am waiting a lot longer until it gets to mid 60s if it ever does. Could be a year or so but it might only be 6 months!

[thekida] 26/3/2020 18:08

K38

Holding on just added to my others......still cheap imho

TK

[k38] 26/3/2020 18:05

Mistake or not I have a cash order for tomorrow morning. Happy with my profits.