New Tax Year 2024/25 - What are you doing?
Discussion
ISA allowance will be the same as last year and same as next year. Investing on Monday as follows;
16 ISA / 4 (+1) LISA
HSBC FTSE A-W ACC / VWRP
And the usual SS of earnings to avoid any higher rate tax. Also invested in the same HSBC fund as above.
All very simple and low cost.
Hopefully interest rates will decline as we’ve part of the mortgage expiring in Q4. Will probably gamble on a tracker. Or pay that part off entirely by dipping the premium bonds account.
16 ISA / 4 (+1) LISA
HSBC FTSE A-W ACC / VWRP
And the usual SS of earnings to avoid any higher rate tax. Also invested in the same HSBC fund as above.
All very simple and low cost.
Hopefully interest rates will decline as we’ve part of the mortgage expiring in Q4. Will probably gamble on a tracker. Or pay that part off entirely by dipping the premium bonds account.
First will be sorting out my tax return to reclaim the tax back on yesterday's pension contribution.......
A move of companies has put me in a place where salary sacrifice into pension includes the employers NI component which has somewhat simplified my approach for this year; Meaning a big percentage of my income is going into my pension which means I don't have to do much else to meet my annual goal...
I'll look to fill my ISA with a monthly contribution throughout the year - And have a couple of bonuses coming that can be used for PB's / cash / cars as needed.
Pension and ISA will be in low cost trackers / Global & US in the main.
(It would be nice if my old employer's shares would hurry up and get on the AI bandwagon to pump them to a point where I would be happy to sell them for more than they are currently worth !)
A move of companies has put me in a place where salary sacrifice into pension includes the employers NI component which has somewhat simplified my approach for this year; Meaning a big percentage of my income is going into my pension which means I don't have to do much else to meet my annual goal...
I'll look to fill my ISA with a monthly contribution throughout the year - And have a couple of bonuses coming that can be used for PB's / cash / cars as needed.
Pension and ISA will be in low cost trackers / Global & US in the main.
(It would be nice if my old employer's shares would hurry up and get on the AI bandwagon to pump them to a point where I would be happy to sell them for more than they are currently worth !)
Waiting for my p60 so I can provide to the lady that sorts my tax out, reclaim SIPP contributions and pay the tax on my cash savings. Get that settled so I know where I am for the year.
£20k moved to my ISA with HL next week, just waiting for my cash saving withdrawal to be processed This will be invested into high yield dividends stocks In the UK but dripped fed through out the year. I look for undervalue stocks using my Simply Wall Street subscription
Then each salary pay into my SIPP and start the process again!
£20k moved to my ISA with HL next week, just waiting for my cash saving withdrawal to be processed This will be invested into high yield dividends stocks In the UK but dripped fed through out the year. I look for undervalue stocks using my Simply Wall Street subscription
Then each salary pay into my SIPP and start the process again!
Edited by oldaudi on Saturday 6th April 10:41
Not much on pensions side, business as usual..possibly a bit of tweaking in the SIPP as its currently all in a developed markets ETF...mulling whether to diversify or do nothing.
ISA is another conundrum, undecided whether to top up existing S&SISA (and therefore increase equity exposure) or open a cash ISA instead for this tax year.
ISA is another conundrum, undecided whether to top up existing S&SISA (and therefore increase equity exposure) or open a cash ISA instead for this tax year.
VR99 said:
Not much on pensions side, business as usual..possibly a bit of tweaking in the SIPP as its currently all in a developed markets ETF...mulling whether to diversify or do nothing.
ISA is another conundrum, undecided whether to top up existing S&SISA (and therefore increase equity exposure) or open a cash ISA instead for this tax year.
Why don't you open a cash ISA and split what you're putting in?ISA is another conundrum, undecided whether to top up existing S&SISA (and therefore increase equity exposure) or open a cash ISA instead for this tax year.
Cats_pyjamas said:
VR99 said:
Not much on pensions side, business as usual..possibly a bit of tweaking in the SIPP as its currently all in a developed markets ETF...mulling whether to diversify or do nothing.
ISA is another conundrum, undecided whether to top up existing S&SISA (and therefore increase equity exposure) or open a cash ISA instead for this tax year.
Why don't you open a cash ISA and split what you're putting in?ISA is another conundrum, undecided whether to top up existing S&SISA (and therefore increase equity exposure) or open a cash ISA instead for this tax year.
I've maxed out my starter savings rate with fixed rate and easy access savings this year, so as the fixed ones mature I'm moving them into ISAs each year, ready for when my taxable income goes over the personal allowance amount in the future.
This tax year I'm debating whether to put half in a cash ISA and the other half to start a S&S ISA, or just all in another cash ISA. Not sure if 5 years is long enough for the S&S ISA as that's probably when I'd be looking to access it?
Retired and drawing from a private pension/annuity, interest off existing ISAs plus another (tax free) pension, so trying to minimise any tax due in future years.
This tax year I'm debating whether to put half in a cash ISA and the other half to start a S&S ISA, or just all in another cash ISA. Not sure if 5 years is long enough for the S&S ISA as that's probably when I'd be looking to access it?
Retired and drawing from a private pension/annuity, interest off existing ISAs plus another (tax free) pension, so trying to minimise any tax due in future years.
We have £125k in NS&I until Sept 24 at 6.2% so that will do its course.
I've been whittling down £120K from Santander 5% (4% from May) into VLS80, dropped £20k in a few weeks back. Will probably use up our ISA allowance into Vanguard throughout 23/24 so will get that cash amount down further as they're bound to reduce rates further.
Come September the headache will be the NS&I funds - worst case scenario premium bonds -£50k each or speak with an IFA we know.
Both retired 50's living off DB pensions, missus has two pensions incoming in a few years but non contributory now so we started a Vanguard SIPP for her, will keep funding that.
I've been whittling down £120K from Santander 5% (4% from May) into VLS80, dropped £20k in a few weeks back. Will probably use up our ISA allowance into Vanguard throughout 23/24 so will get that cash amount down further as they're bound to reduce rates further.
Come September the headache will be the NS&I funds - worst case scenario premium bonds -£50k each or speak with an IFA we know.
Both retired 50's living off DB pensions, missus has two pensions incoming in a few years but non contributory now so we started a Vanguard SIPP for her, will keep funding that.
Gassing Station | Finance | Top of Page | What's New | My Stuff