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[serratia] 26/8/2018 17:47

You also don't have to wait 7 years to escape the full tax as it tapers down after 3 years on any large gifts.

[owenga] 26/8/2018 17:37

That's a great idea Spike to set up lunch after the AGM at same venue.. I would definitely be up for that..

[1teepee] 26/8/2018 17:32

Thanks for helping me understand why you all have sipps. I only had £20000 to invest so the isa is good for me.

[johnveals] 26/8/2018 17:25

I think the problems arise when a “gift” is made and beneficiary control is still retained. But as long as you or your married partner live for 7 years you can give away whatever you want without even declaring it and the recipient doesn’t pay tax on it as it is not income.

These issues arrise when executing a will, which I have done, HMRC has to be satisfied first before probate can be granted and the beneficiaries get their dosh.

serratia, you make a good point about financial advice, I am not an expert and we are just chatting.

[spike_1] 26/8/2018 17:17

skyliteandy: do you know the Rugby Club (AGM venue)? Do you think they might be prepared to do us some sort of latish lunch - they do do conferences and events. I've copied an offering that thy do (below) as a guide only.

I imagine they would be willing to set up some largish (round?) tables, and we could all swap around once or twice to meet others attending.

The big advantage of meeting after the AGM rather than / as well as before, is that there should be fresh nuggets of info' to salve over, and sg will no doubt be able to decode some of the hints. Last year the AGM had lots of additional 'snippets' and Neill introduced some non shareholders who were 'of interest' (nudge nudge ;0)

Thoughts - anyone ?



TAILOR YOUR PACKAGE:

Tea and coffee, homemade shortbread, warm pastries or cake
Bottled water, mints, stationery and WiFi
Screen projector and flip chart
A choice of either
Sandwich lunch, selection of sandwiches, wraps, crisps with fruit and orange juice
One course hot and cold buffet lunch and orange juice
From £27 + VAT per delegate.



Best wishes - Spike

[anotherdrink] 26/8/2018 17:10

Remember NR's twitter on Aug 10? - 'just to confirm again we won't raise cash unless we need to for a good reason, we have enough cash for current plan including scale up equipment recently purchased'. Hope the scope of the 'current plan' includes world domination - not too much of an ask is it? :)

[johnveals] 26/8/2018 17:03

Yes, any LARGE purchase out of a SIPP is going to hurt and if you do It after hitting the LTA it is going to be eye watering.

[skyliteandy] 26/8/2018 17:00

The Set opens at 3pm during the week; they usually have 4 guest cask ales on, 1 house ale (London Pride), several ciders of varying strengths and 1 lager (I think). No food other than pickled eggs and crisps. As I've mentioned before there are loads of great places to eat within 5 minutes; happy to help organise/book etc.

[high park] 26/8/2018 16:49

ISA first, SIPP second.

If you take £100,000 out of your draw-down sipp you're looking at a 40% tax take on the bulk, and 45% on anything over. All approx of course.

[high park] 26/8/2018 16:49

ISA first, SIPP second.

If you take £100,000 out of your draw-down sipp you're looking at a 40% tax take on the bulk, and 45% on anything over. All approx of course.

[high park] 26/8/2018 16:49

ISA first, SIPP second.

If you take £100,000 out of your draw-down sipp you're looking at a 40% tax take on the bulk, and 45% on anything over. All approx of course.

[woodpeckers] 26/8/2018 16:41

Thanks john, that's good. I got my 3 kids to open ISAs with AJ Bell and I can pay directly into them with my debit card. I have their passwords so treat them as my own, depositing/buying shares.
When the £3k limit was mentioned I panicked a little but as I'm only (!) 55 I'm hoping I'll still be around in 7 years time so shouldn't have a problem by the sound of it.

[redchef] 26/8/2018 16:40

Sandbag, I did the same. Most of my holdings are in my sipp because the taxman tops up the investment. However it does lock you in to the pension strategy as the most you can drawdown tax free is a once off 25%. So I top slice every now and again when I see the right opportunity to switch into solid but high div yield stocks for retirement income. To keep some of my investments liquid though I mirror my growth stock sipp holdings in an isa so I can get quick and easy access to cash when I want it

[sandbag] 26/8/2018 16:29

1teepee,

"Why have a sipp if you pay extra tax. Why not just keep it in the isa?"

After I officially retired I was offered some work over a period of months which paid me approx £30k. By cashing in some other investments to live on I was able to put all the earnings into my SIPP. So instead of me paying tax on my earnings the taxman added £7500 to my SIPP. As the value of my SIPP has greatly increased since then I face the same problem as johnveals, as almost 200k of my VRS shares are in the SIPP. Like John says it's a nice problem to have.

By the way, I have three ISAs and my wife has one but at the time I thought that putting my earnings into the SIPP was the best result I could achieve.

[redstone64] 26/8/2018 16:28

I would be up for an evening meet either pre or post as I may not be able to attend the actual AGM due to work. Overnight may be best too so as to be able to sample what's on tap.

[baz99] 26/8/2018 16:04

Compundup / SG I also favour a meet the night before the AGM, although I think I will pass on the eggs.Re guest speaker: perhaps Dim Tim could entertain us with tales of his successful shorts on VRS Baz

[20pc] 26/8/2018 16:02

Teepee. You get tax relief on the way in. Then after 55 you get upto 25% tax free lump sum the rest treated as income. If you go over lifetime allowance value about £1m you pay 25% on anything over. All very complicated if you have large pot or hold a share that could multi multi bag. I would have put all my vrs in isa if i could have. But then again would probably have had to take it out by now. NOT ADVICE.

[ashehzi] 26/8/2018 15:58

ISA annual limit is 20K. Rich people talking here about excess money, 1teepee.

20k x 2 =40k for a couple. More than enough to invest in a year when both are working.

If you have more than ISA, i put in normal share dealing and move 20k to ISA as bed n ISA in new financial year.

[1teepee] 26/8/2018 15:49

Why have a sipp if you pay extra tax. Why not just keep it in the isa?

[woodpeckers] 26/8/2018 15:34

On that subject, does anyone know if it's ok to loan your kids money to invest when you have reached the £3k gift allowance?

[compoundup] 26/8/2018 15:29

Sg1 - re AGM, I was minded towards a meet up at the Set the night before. What time do the doors open? Wouldn't want to find the pickled eggs had sold out.Any venue recommendations for a sit down meal later in the evening? Guest speaker?

[serratia] 26/8/2018 15:11

From recent posts there are a number of reasons for investing here. One reason mentioned is a nest egg for their children. The IHT benefits of AIM shares has been mentioned.
If you are investing with one eye on future benefits for your children/grandchildren why not invest in their name(s)instead of your own account. That way IHT doesn't come into play. I have set up both SIPP and ISA accounts for my children. I set up an account in this case with A J Bell. You have to have an account in your own name but just needs £1 in it then your children open an account and send an instruction giving you investment control. You can invest (gift) them up to £3k/year or £6k/year for a married couple. In a SIPP if they're tax payers they get a further boost from the tax relief which is added to the £3k.
The only minor nuisance is that you can't transfer money yourself directly into their accounts you have to transfer money to them and they transfer it into their account. You can do it by setting up a couple of standing orders if you wish. The other way is to gift shares from your account to theirs with no charges if you want to do it that way.
Which ever way you do it it removes the IHT question.