Taylor Wimpey Share Discussion Threads

[sikhthetech] 06/8/2020 12:18

gbh/Jug

"Most of the job losses are service sector which is renowned for it's low pay & zero hour contracts that are unsuitable for House Buyers, mainly rented sector workers,"


Those you call unsuitable buyers are tomorrow's 1st time buyers, possibly saving for a deposit. It's 1st time buyers the Help to Buy scheme exists for.

[sikhthetech] 06/8/2020 12:13

Jug,

"the economy down turn is going to be less severe than the bank"

Less severe or more severe, it's still severe.. wasn't that long ago, you predicted a V shape recovery, which clearly isn't happening..

As ftir pointed out, BoE forecast of 'less severe' is based on the assumption of no 2nd wave and smooth Brexit transition.

As I pointed out before, there are many factors coming together within a short few months, which are causing uncertainty... oh look, 2nd wave and possible 'no deal' brexit were just 2 of them...

The reality is more and more jobs lost, more and more towns/cities where lockdown is reimposed, Brexit talks not going well..

Perhaps if HB are doing as well as you claim, the government should impose a special tax and abandon the recent Stamp Duty changes and cease Help to Buy immediately. After all, according to you, they're flourishing...

[jugears] 06/8/2020 11:09

Dd lol, I have said that accounts are still being processed for the last 2 years, up until then the allowance was £5000 before tax per person, This worked extremely well between myself, Partner & 2 children all at the time none workers with there own tax allowance, Just because I have bought share doesn't mean they are all in my name, My property company has reinvested all profit made over the last 15 years in purchasing more property, As for my other companies don't assume that being the boss that I take a regular wage.

[jugears] 06/8/2020 11:08

Most construction sites stayed open, all of my sites did.

[ftir1] 06/8/2020 10:48

No surprises there!

Exactly what you'd expect after the economy shut down.

[master rsi] 06/8/2020 10:29

UK construction PMI rises at fastest rate since October 2015
Sharecast news 06 Aug, 2020 10:00

Output in the UK construction sector expanded in July at its steepest pace since October 2015 but more jobs were lost, according to data released on Thursday.

The Markit/CIPS construction purchasing managers’ index rose to 58.1 from 55.3 in June, beating expectations for a reading of 57.0. The PMI came in above the 50.0 level that separates contraction from expansion for the second month in a row, with residential building the main driver of growth as activity rose to the greatest extent since September 2014.

Survey respondents pointed to pent-up demand and reduced anxiety among clients.

However, the survey also found that jobs were shed at a faster rate than in June, with around one in three respondents reporting a fall in employment. There were reports that some clients remained "apprehensive" about committing to new projects, resulting in intense competition to secure sales and squeezed margins.

Tim Moore, economics director at IHS Markit, said: "Construction companies took another stride along the path to recovery in July as a rebound in house building helped to deliver the strongest overall growth across the sector for nearly five years. Civil engineering and commercial activity are also back in expansion, which has been mainly due to the restart of work that had been delayed during the second quarter of 2020.

"Survey respondents noted a boost to sales from easing lockdown measures across the UK economy and reduced anxiety about starting new projects. However, new work was still relatively thin on the ground, especially outside of residential work, with order book growth much weaker than the rebound in construction output volumes."

Moore added that concerns about the pipeline of new work across the construction sector and pressure on margins "go a long way" towards explaining the fall in employment numbers.

[disneydonald] 06/8/2020 10:26

Jugs. Final note on Tax. If your Accountant prepares and submits your business accounts, and advises on your personal tax then he will understand your overall tax obligation. Now we have established that all dividends, however they are taken, are subject to dividend tax unless you have alleviation via Offshore companies, ISA or pensions.

Personal tax for 18-19 should have been submitted and paid by January 20. Personal tax for 19-20 to be submitted and paid by next January.

Now, if you take dividends out of your business (so you pay no N.I.), then you must also consider the dividends you receive from non business sources; shares etc. Depending on how little you take in salary from your business (you say you pay top rate of tax), you will need to add dividends from all sources (unless they are sheltered offshore or in tax free wrappers) to pay the correct amount of tax.

As we've established dividend tax is 7.5%, 32.5% and 38.1% respectively. You get £2000 nil rate allowance for 18-19 and 19-20. As you have been taking Wimps shares as your dividends in your personal tax account, these are liable to one of the above rates of tax. You say you pay top rate of tax (that's either 40% or 45% depending on whether you mean higher rate, then either 32.5 or 38.1% was due in January for 18-19.

You say you also have many houses, in which case you must be submitting a personal tax return from rental income, unless you have restructured recently and placed into a limited company. In which case you would have paid large CGT on transfer.

If you are uncertain I would check with your Accountant, as the the tax man does not accept ignorance as a legitimate defence for tax evasion. If you ask a tax man what is the most prevelant medical condition at large in the UK population, they won't answer COVID, it is amnesia.

Perhaps we can get back to discussing Wimps business prospects from now on :-)

[stevieweebie2] 06/8/2020 09:23

Double bottom imminent, 10 Bob to follow.

[ftir1] 06/8/2020 09:20

LOL

"The Bank's latest forecasts are based on no second wave of the virus and a smooth transition to a new EU free trade agreement at the start of 2021."

Oh really.

Keep dreaming!

LOL

[jugears] 06/8/2020 08:17

Gbh2 exactly my thoughts.

[gbh2] 06/8/2020 07:54

Most of the job losses are service sector which is renowned for it's low pay & zero hour contracts that are unsuitable for House Buyers, mainly rented sector workers,

[jugears] 06/8/2020 07:39

Oh look sikh the economy down turn is going to be less severe than the bank.of England thought & unemployment is going to peak at 7.5%, but as I am sure you will know the bank of England are always over cautious.,Very easy to sit in an office as far away from reality as possible (inside the M25) but in reality it's much better to let the economy do it's own talking., Now I'm no expert but I think we are looking at 1.70 easily by the end of September. Dont miss the boat!

[sikhthetech] 05/8/2020 19:06

Jug,

regarding the tax on dividends.. it seems either your personal dividend income is below the dividend threshold because you hold < £20,000(10% divi = £2k) or you're holding the shares in your company name, hence your accountant is advising you... but then your company would be liable for the tax on 100% of the income, as the personal threshold wouldn't apply.

I transferred all my shares to ISA/SIPP some 12-15yrs ago...

[sikhthetech] 05/8/2020 19:01

Jug,

The 2m taking out mortgage pay hols gives everyone an idea of the scale of numbers involved.
Obviously it doesn't mean they are all in trouble. It also doesn't mean that those who didn't take a pay hol are NOT in trouble..

Likewise 9m on furlough scheme doesn't mean all 9m will be out of work but it gives everyone an idea of numbers involved... Likewise those who were not furloughed could still be made redundant.

Unemployment peaking at 2-3m is still severe... recession, drain on govn finances..


Numbers leaving the UK... If it was people coming to the UK, you would shout it from the rooftops but if it's people leaving, it's not a problem - really!!!


100k people selling up and leaving, 100k jobs lost so far and it's early days.. If these figures continues to rise it'll mean fewer homes needed..

Avg House prices are too high compared to avg salaries..That's basic understanding..

[jugears] 05/8/2020 18:36

Zac, Looks like I have really opened a can of worms here! Just get your self a good tax adviser, sometimes spending money makes money, That said I would never listen to anyone else's advice about what companies I should invest in & neither would I trust someone else to invest my money for me, but I am no tax specialist that's why I pay someone !

[zac0_4] 05/8/2020 18:22

With regards to tax allowances be sure to take advantage of annual capital gains tax allowance as well.

[sikhthetech] 05/8/2020 18:12

Brexit still a problem: British leaving UK and this is before a major recession..


Number of UK citizens emigrating to EU has risen by 30% since Brexit vote
Exclusive: crisis has led to 500% increase in Britons taking up citizenship in an EU state

"“These increases in numbers are of a magnitude that you would expect when a country is hit by a major economic or political crisis,” said Daniel Auer, co-author of the study by Oxford University in Berlin and the Berlin Social Science Center."

[sikhthetech] 05/8/2020 18:07

Jug

"Although that may be pessimistic as I have only heard of a few thousand here & there so far"

Were you expecting to hear of hundreds of thousands being made redundant from a few companies????
The fact is more and more redundancies are announced every day...

it's 5th August and furlough started to wind down only 5 days ago and the majority of salary is STILL being paid for by the government...

2m mortgage payment holidays end in Oct..



It's only 5th August and 100,000 so far, from a few companies.. and that's only from the bigger firms..


UK firms cut a total of 100,000 jobs amid coronavirus pandemic

[sunshine today] 05/8/2020 17:59

Jug, when will you grasp the fact that governments and printing cash to hold up the housing market, and most other assets.

Not just here, but worldwide.

The jump in gold and silver is telling you the game is up.

Confidence will disappear overnight, sparked by various turnS of events.

The government cash will HAVE to dry up soon and then it’s all over.

Debt is the killer, defaults ,on a massive can now not be avoided.

[jugears] 05/8/2020 17:13

sunshine today, where does your assumption that 6 million people will be unemployed? I would say 10% maximum, Although that may be pessimistic as I have only heard of a few thousand here & there so far & IMO these will be temporary.

[gbh2] 05/8/2020 16:26

Yep, no easy task, but worth it up to now, guess the question is will they change it to help pay the COVID bill?

[1carus] 05/8/2020 16:02

gbh2, been working on that particular problem for 3 years, and probably 3 years left to go. One good thing about this year was that I could move more shares all be it at a lower share value than expected.

[sunshine today] 05/8/2020 15:57

The unthinkable is about to happen, as rates go through the roof, to protect currencies.

Gold is going nuts because no one wants paper money, with 1/3 of the U.K. not paying rent, and mortgage holders about to default.

Unfortunately, unemployment will hit 20% within 20 months.