M&g Share Discussion Threads

[spawny100] 24/7/2024 17:25:22

400k a year to be comfortable? Are you suggesting that 99.5% of the population are uncomfortable?

[mr euro] 24/7/2024 17:20:52

Don't forget the 55% tax between ~100-130k.

When you reach 230k tapering kicks in, if you reach ~330k you cannot even make pension contributions. I don't remember when tax allowances go.

For those earning £m's it's ok, for those between 100-300k it doesn't go as far as you expect.

I would say you need minimum 300k to send your kids to private schools and not make so many scarifies.

[laurence llewelyn binliner] 24/7/2024 17:06:29

Whilst a salary of GBP100K might sound strong on face value a take home of GBP5,700 a month before being adjusted back for pension contributions brings it back to under GBP5K a month, from what I overhear it does not go anywhere near a comfortable life in todays price environment..

Mortgage/rent 1,500
Utilities/council tax 1,000
Food 1,000
1 lease car with fuel and insurance 1,000
2nd lease car 1,000 seems pretty normal too
2 children to run in state schools ..?
2 children to run in private schools 1500 each

You are already scratching with no holidays and hand me down clothes on GBP100K before private education, you are going to need 10 a month net (GBP200K p/a gross) with holidays for that, an alarming number, but reality for many families, the destructive power of inflation and money printing..

#Mr Euro, zero personal tax allowances on salaries over GBP125,140
You will have a reduced tapered annual SIPP allowance in the current tax year if both, your threshold income is over £200,000 and your adjusted income is over £260,000..

[jubberjim] 24/7/2024 15:47:27

Euro

Get Real

[jubberjim] 24/7/2024 15:38:06

Euro

Get Real

[stevetmade1] 24/7/2024 15:27:38

https://www.telegraph.co.uk/money/pensions/labour-hell-bent-ruining-retirement-another-generation/

[eigthwonder] 24/7/2024 13:11:49

if i am reading the straws in the wind correctly, the focus appears to be more along the lines of compelling pension schemes (not SIPPS) to invest more in the UK. It doesn't raise money and I am not sure how that sits with "best outcomes" and all that, but I guess in their minds in might help investment in the country.

on the broad thrust of government policy, wealth taxes is an obvious avenue as "it targets the rich" (whether true or not) and bringing pensions into IHT looks a possibility

[skinny] 24/7/2024 13:04:20

My question was tongue in cheek - obviously.

[mr euro] 24/7/2024 13:03:11

That would be a contradiction if they touched the 25% lump sum with pretty huge implications (political suicide).

If anything they may adjust the tax relief, talk of a 33% flat relief (which would still hurt many people).

Earning £200k a year isn't much these days, certainly not enough for a nice lifestyle. Sure low earners will complain that 200k is a lot of money, but net it's not. You need to be 400k+ in my view to be comfortable these days.

I have 0 tax relief on anything, can't even pay into a pension (if I wanted to) and that's with no cap.

Higher earners have been over a barrel for a long time.

[eigthwonder] 24/7/2024 13:02:37

a financial planner i was talking to earlier in the year said that the industry has been so disrupted by the changes in LTA and the admin required there, that the feedback to Whitehall has been on the lines of "think carefully before making further significant changes to the regime". But I fear that the careful side stepping of actual policy commitments by Reeves the Red during the election is going to be made up for in double quick time and taxation now she has her hands on the wheel.

[tornado12] 24/7/2024 12:56:05

Îf they remove the 25% tax free then there is going to be uproar from Millions: I dont expect it, but if you votes these guys in then you reap what you sow. I will look carefully if I decide to take my 25% out early if announced and this will also cause absolute chaos to the pension funds as the 25% withdrawal avalanche arrives.

[skinny] 24/7/2024 11:47:04

Got a link?

[action] 24/7/2024 11:45:23

They are going to tax pension pots . NO MORE 25% TAX FREE LUMP SUM

[tornado12] 24/7/2024 09:52:24

I am sure the BoE will not play ball with Labour regarding interest rates. So if wages continue to exceed actual inflation they will not be dropping rates at any fast pace. But the other issue is debt and where they find the extra money for these 5,5% pay rises costing tax payers 3-10 billion extra. Labour will try to avoid giving any news on tax rises, but do it anyway. The same problem for immigration and overloading all services with 600,000 /yr extra population. Where can we put so many people on this small congested island ..

[parttime] 23/7/2024 15:14:29

It's not just the public sector 5% pay increase but add to that increased/increasing shipping container rates and I think we may well see inflation tick up again.

[rongetsrich] 23/7/2024 12:59:34

In the meantime, with 4.5 million public sector workers expecting a 5% pay rise who thinks interest rates will come down?
Here we go again.

[rongetsrich] 23/7/2024 12:58:03

Another opportunity to top up early morning. I'm going to sell today's purchase before XD if this goes to 225 in the meantime.

[scruff1] 21/7/2024 22:03:47

Its difficult to imagine that anyone with even a passing interest in the stock markets hasnt realised that. In fact a relatively large number of posters/investors seem to actually desire it.

[yump] 21/7/2024 20:41:31

Eventually people will realise that the US venture funds and PE wait for a distressed period and then take over good UK businesses because shareholders cave in and there’s no protection.

So now we’re left with uninspiring low or no-growth businesses.

Cadburys used to be one of the most reliable dividend payers, because chocolate was a stable good margin business, in good and bad times for the economy. Kraft then Mondalez got that.

Difficult to believe but direct inward investment into the UK, which you would think would be things like Nissan in the North East, actually includes the purchase of UK businesses by foreign businesses (mainly US). It accounts for a large percentage of the total inward investments.

[tornado12] 21/7/2024 20:26:36

H1 results to be published 4/9. Let’s hope for positive news GLA

[1jat] 17/7/2024 19:16:31

LLB - just think of it as a new manager that changes direction because the Board wants something to change.
We have done cost cutting…..so now we are moving to M&A in the search for growth.
The next phase is the acquisition related debt is too high so we have to sell something. (When the Lab govt falls apart). It may be a while depending on how competent they are and how they treat their customers.

[laurence llewelyn binliner] 17/7/2024 15:09:04

There is our 1st answer to rescuing the economy from Labour, the Great British Railway, nationalise the rail franchises and operators, bring them under public ownership, because obvs it was such a roaring success model as BR before they were privatised.. :o)

[skinny] 17/7/2024 13:36:51

So the inflation miss is largely down to the 'Taylor Swift' effect - no doubt the term will join the A to Z of economics!

[lab305] 17/7/2024 08:34:45

They have got their bloody 2% what more do they want ???