Intelligent Money - your investment questions answered

[Simpo Two]

uk66fastback said:

If The Donald gets a kicking in the US election, are the US stocks expected to climb?

IIRC US stocks did very well after he was elected. Ergo I'd suggest a fall if Sleepy Joe wins, which would hit us too.

Phooey said:

Hold on! Any chance you could give me a 2 or 3 week heads up before you sell next as I'm hoping to use the discount card again to get Mrs Phooey some fluffy socks and scent for Xmas

Now wouldn't it be nice if we all got discounts on all the companies in PHR! One of my uncles tended to buy shares in companies whose products he used, simply for the discount.

[Simpo Two]

anonymous said:

[redacted]

Ah yes, more layers. Maybe CREST is pocketing all the discounts How does Equiniti fit into the structure?

[911pleb]

Regarding Next and others; when you sell and move it to cash, are we subject to CGT on the profit? Or does that only occur if we withdraw the funds out of our account?

Assuming GIA and over £12.5k threshold etc...

Edited by 911pleb on Saturday 24th October 14:35

[JulianPH]

There are still shareholder perks available with some companies, whether you hold a physical certificate or have invested via a nominee.

This doesn't apply when you hold these shares in collective investments though.

[JulianPH]

911pleb said:

Regarding Next and others; when you sell and move it to cash, are we subject to CGT on the profit? Or does that only occur if we withdraw the funds out of our account?

Assuming GIA and over £12.5k threshold etc...

Edited by 911pleb on Saturday 24th October 14:35

Yes we (including me) are. There will be 10% tax for basic rate taxpayers and 20% tax for higher rate tax payers.

We will issue a tax certificate for you on this to make life easier when reporting to HMRC.

ISAs and Pensions/SIPPs are obviously free of any tax on this and any gains remain in these accounts (rather than be moved to your general cash account).



Edited just to make it clearer, the potential taxable gain occurs on the sale of any stock, not the withdrawal of funds.

Just get in touch if I could be of any further help!

Edited by JulianPH on Saturday 24th October 15:26

[Simpo Two]

JulianPH said:

Yes we (including me) are. There will be 10% tax for basic rate taxpayers and 20% tax for higher rate tax payers.

We will issue a tax certificate for you on this to make life easier when reporting to HMRC.

Will this be shortly after the sale, or saved up until after the FY end?

[JulianPH]

Simpo Two said:

Will this be shortly after the sale, or saved up until after the FY end?

Tax year end, though you will obviously be able to see the gains as they happen on your dashboard.

[Mattt]

IIRC FSCS gives you temporary increased protection limits for house sales etc.

[JulianPH]

anonymous said:

[redacted]

As Mattt has correctly said, you have enhanced temporary protection from the FSCS for events such as this. The last time I looked it was £1m.

You don't need to inform them either.

So it is perfectly safe, with instant access, just sat in your bank account (though as you say, earning nothing in the way of interest!).

Cheers

[Mattt]

Buy £750k of Bitcoin though, then next year you’ll be living in a palace or a cardboard box.

[JulianPH]

Mattt said:

Buy £750k of Bitcoin though, then next year you’ll be living in a palace or a cardboard box.

[leef44]

JulianPH said:

Mattt said:

Buy £750k of Bitcoin though, then next year you’ll be living in a palace or a cardboard box.

[leef44]

JulianPH said:

anonymous said:

[redacted]

As Mattt has correctly said, you have enhanced temporary protection from the FSCS for events such as this. The last time I looked it was £1m.

You don't need to inform them either.

So it is perfectly safe, with instant access, just sat in your bank account (though as you say, earning nothing in the way of interest!).

Cheers

What's the time limit on this temporary cover? Is it 6 months or two years?

[Mabbs9]

Up to 12 months you're covered.

[JulianPH]

Mabbs9 said:

Up to 12 months you're covered.

It has very possibly changed (it is not something I keep up to date with), but it used to be 6 months.

It also covers other things, such as insurance claims and pension lump sum payments.

[500 Miles]

JulianPH said:

Mabbs9 said:

Up to 12 months you're covered.

It has very possibly changed (it is not something I keep up to date with), but it used to be 6 months.

It also covers other things, such as insurance claims and pension lump sum payments.

Everyday is a school day!

[JulianPH]

500 Miles said:

Everyday is a school day!

It certainly is!

Today, for example, I have learned my body's intolerance of penicillin (tooth infection) is so terrible I will no longer be going to Silverstone this afternoon to do an interview with Jenson Button and that lucky Nik is now going in my place!

[Mabbs9]

JulianPH said:

It certainly is!

Today, for example, I have learned my body's intolerance of penicillin (tooth infection) is so terrible I will no longer be going to Silverstone this afternoon to do an interview with Jenson Button and that lucky Nik is now going in my place!

That's really bad luck, I hope you get over it soon! It must be pretty bad to be missing a day like that.

[JulianPH]

Mabbs9 said:

That's really bad luck, I hope you get over it soon! It must be pretty bad to be missing a day like that.

Yep, timing couldn't have been worse. I am not exactly happy about it, but Nik certainly is!!!

Thanks, and I hope I'll be OK to catch up with Jenson and Chris at the actual race weekend.

[tighnamara]

JulianPH said:

It certainly is!

Today, for example, I have learned my body's intolerance of penicillin (tooth infection) is so terrible I will no longer be going to Silverstone this afternoon to do an interview with Jenson Button and that lucky Nik is now going in my place!

Not good, hope your feeling better soon, but I’m sure Nick deserves it after having to meet up with some of us to talk finance

Edited by tighnamara on Monday 26th October 08:10