Nice video. Another option I recently found out about is buying GILTs. The key is to buy them at a low price and low coupon. The coupon is taxed but the capital gain is tax free.
Brilliant video! Everything explained clearly and thoroughly. I struggled as a pensioner to get to grips with savings, ISA, interest, small pension, state pension etc. Even HMRC couldn't explain it as well as you (and that with with FOUR phone calls - at 7.59 am!! - hint!) One thing I don't understand: I have Premium Bonds and know that winnings are tax free. But what if I win, say, 50K. It's interest free, but surely most people, including me will put that money into a savings account which requires tax to be paid. The alternative is to spend it I guess but who does that?! Thanks again.
Premium bond winnings are given to you tax free. What you do with that money afterwards is entirely up to you and you may be liable to tax depending what you do with it.
Nice summary. Another option could be putting any "spare" cash into a general trading account if you've exceeded the limit on tax-free wrappers (pension/ ISA / premium bonds). You could get up to £500 in dividends tax free or up to £3000 in capital gains on selling shares before paying tax (currently....let's see what Rachel Reeves does though!).
You can also use a S&S ISA as a savings account if you buy a money market ETF e.g. CSH2 inside the S&S ISA which currently gains/pays over 5%/yr with minimal risk. If you use a flexible ISA then you can put the money back in later too (max. 20K before April 6th 2025). That way you get a better rate than Cash ISA or a taxable savings account.
I was really pleased with myself when I realised I had all these options in place as I always thought I was a bit of thicko when it came to this sort of thing and far more switched on people than were doing it differently and earning more tax free interest. Thank you.
Thanks for the post. I wasn't aware of the Starting Rate for Savings and think I'll be able to make use of it in 2024/25. I've just retired (with a small occupational pension of £9k pa) and don't get any state pension for another 6 years. My cash is held in PSBs, stocks/shares ISA and a taxable savings account (4.5% pa atm). Let's see what Rachel Reeves comes up with in her budget shortly though before I celebrate!
Thank you for the video, crystal clear. The only thing is that every single finance channel agree that it's so good to invest in the s&p500, should we not start to be worried when everyone agrees about how good a particular investment is?
It's a great con to be taxed on nominal savings interest, should be calculated on inflation adjusted interest earned. Imagine paying 40% tax, say 100k in the bank 2022, 5 % interest, 10% inflation after year your spending power reduced and your taxed... No tax should be due as no gain... Taxed on a loss is crazy
Sorry to ask probably a silly question but how does money and tax come into play if you 100k, say, but in a current account only or is everything solely based on amount you have anywhere...
Question! If I have £40000 and I keep £20000 in ISA account that pays me £800 interest after a year and I keep the other £20000 in none ISA account that also paid me £800 of interest for that year. Given that I didn’t exceed the £1000 allowance on the none ISA saving account do I pay any tax? Or I did exceed because together with ISA account I made £1600 so I have to pay tax anyway?
Only the interest earnt outside the ISA would be part of the tax calculation. But since that sum is below £1000, the amount that is tax free annually, you are fine.
Err, one does not have to share the £20,000 in a stocks & shares ISA with a cash ISA (8:14). You could have all of the £20,000 in a stocks & shares ISA, or all of the £20,000 in a cash ISA. A minor error, and I knew what you meant. Good video, thank you.
Thank you. It is important to shelter your assets from wasteful and profligate governments. The present incumbents go on about the need to plug a £22 Billion financial black hole. And how do they go about addressing this? By giving away billions in foreign aid, giving money away to Africa for climate issues, and financing foreign wars. Enough is enough. I have zero qualms about tax avoidance (not evasion) - in fact, in light of what I have just said, I consider it a moral duty to do so until we get our own house in order - starting with our roads.
Thank you for your clear explanation. I work and pay tax overseas, however I also have a fixed rate bond (in a Jersey-based institution) which is maturing at the start of 2025, when it will pay the bond+profit into my UK-based HSBC account. How can I check if I’m required to pay tax on the bond profit in the UK? How do I calculate my PSA in this case?
At 57 I’m taking just below £12570 PA Pension drawdown. In addition to that, £3500 PA from Cash eISA’s (I have 77k in ISAs), and £2500 PA from a Saver Account interest…. I thought the £2500 is below the £5k savings interest ruling. And ISAs aren’t taxable….. am I ok with all of this? Thx. 🙏🏼👍
That's a good thing to help yourself, but it doesn't change the disproportional size of wealth distribution. Spread your money across different types of investments. A good financial advisor would do.
Well said, I totally get that. Working with someone like ERIC PAUL ELMER could give you the confidence that your start up capital is working for you, even in uncertain times. He's been in the business for years and knows how to navigate these situations
Well, he looked at my entire financial picture and helped me diversify. Although I had retirement plans but I necessarily did not have to wait. We put some of the money into conservative investments to generate steady income, while also setting aside some for more growth-oriented opportunities. He also kept some liquid in case a good real estate deal came along.
There's of course no specific time to make retirement/investment decisions. It's a good thing to have professional guidance and how do I get to ERIC PAUL ELMER?
Many thanks. When we fill in our uk tax return, do we enter all interest we earn (not ISA etc) and not deduct the £5000 or £1000 for starting rate for savings and personal savings allowance?
Very good ideas. I'm interested in the 'cash for 12 months worth of projects' pot. I've heard about the 3-6 months of salary for emergencies, but do you mean also 12 months of salary held as cash savings? Or some other % of income? This is for what, holidays, new carpet, home improvements..? 12 months salary would be a lot of cash to have around not in say the stock market.
Thank you for watching! For some people, having their money easily accessible may be the best option if they know they will be making a large purchase, doing renovation works etc. in the very near future
Really enjoy your content! I’d love to help in a small way with how to make your video look more cinematic. (14 years as a film maker) just need one key light and reduce the day light coming in the room! Hope that helps. Reach out if need anymore advice
I opened a cash isa but deposits were only allowed for the first 6 weeks so I’ve missed out to invest the full amount. Can I open another cash isa in the same year? Thanks
Hi there, since 6 April, you can subscribe to more than one ISA of the same type in a tax year (except for lifetime ISAs). There are rules so make sure to check these!
Better idea. Hold all your savings in Legal Tender gold coins, Sovereigns and Britannias. Both are free of all taxes and are likely to rise in value faster than any interesr rate you can get at any bank.
I totally agree, and as a stacker myself, I would also recommend gold sovereigns and Britannias as anything else is an easy target for tax. Also these can be passed on to loved ones. No capital gains tax.
I've got £100k to invest. I want to build a nest egg for when I'm older. I want to know if it's a good idea to add all my savings into a long term ETF, set and forget Come back in 20-30 years, instead of 250-300 DCA every month. Which ETF would you recommend?
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 275 cash earning 5.25 interest, 685k in 401k, 120k cash account, 80k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed within a short period.
I've stuck with the popularly ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
thank you for putting this out, it has rekindled the fire to my goal... was able to spot Aileen after inputting her full name on the web, she seems highly professional with over a decades of experience.
National savings is another option for tax free savings without limits on the amount that can be invested. To produce a tax free income at any age or for retirement purposes , investing in a stocks and shares ISA is well worth considering , If invested into high yielding shares paying say between 5 to 9 % dividend yield , all the dividends are completely free of tax . If the income is not yet required then each dividend received can be used to buy even more dividend shares and thus the income produced will grow exponentially all completely tax free !
Hmm, in 2021 savings accounts were paying about 0.5% whereas you can get 4-5% nowadays. So of course the tax take for HMRC from that has increased massively. Good news for savers (if you ignore inflation…) but means more care is needed with your savings as there’s more to lose to the taxman…
Good place to hold a large amounts up to £50,000 tax free in addition to ISA options should you come into some money or want to reduce your tax on savings interest over £1000.00 or both.
These are the usual tactics. I’ve already got £50k in premium bonds. I’ve maxed out £20k in ISA I can’t do pension, I’m 55. How do I invest in S&P ETF when I’m living in the UK? To convert to USD then use what USA platform? Converting profits back to GBP will cost me in the exchange rate.
The utilization of after-tax money and tax-free growth makes opening a Roth IRA very advantageous. Through a careful guidance of my FA, I did not pay taxes on my withdrawals of $2.86 million when I retired.
I don't regret the numerous financial mistakes I've made in the past since I've learnt from them. But the biggest one was planning my finances without consulting with a licensed financial counsel.
Indeed, I did make use of a financial counselor. As I get closer to retirement, their advice has been really helpful. I thought compound interest on index funds wouldn't be sufficient because I started late. It's amusing how I've done better than colleagues who have more years of investment experience. I've profited more than $886k tax free.
I plan to employ the service of an asset-manager this year. I've seen some off social media but wasn't able to get a response. Could you recommend one?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘Grace Adams Cook’ for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
@@jeremyhares979 hmmm, I bought gold at an all time high in 2018, at that point it was around £36 per gram. I was going to buy more a few months ago at just under £60 a gram. It’s now £64 a gram. When exactly is gold going to drop in price, or given the instability in the world right now will it gradually keep going up??? So long as gold remains a long term investment, and it’s part of a balanced portfolio, now is as good a time as any to buy!
@@egg399.You can buy with Hargreaves Lansdown. £11.95 transaction fee when you buy, but no holding fees. Let them mature and there's no selling fees at the end.
The S&P 500 (Standard & Poor’s 500) is a market-capitalisation-weighted index of 500 leading publicly traded companies in the United States. While it is often used as a benchmark for the overall performance of the U.S. stock market, it’s not simply a list of the top 500 companies by market capitalisation. It includes companies that meet specific criteria, such as profitability, market liquidity, and sector representation, making it a more selective index. It's not an exact list of the top 500 U.S. companies by market cap because the index includes other criteria.
@@lj6079 you’re welcome. Most people who may not want to play the pick the share that’s going to return me the largest investment possible game. Stick their stocks and share ISA investment on the S&P 500 cause in the long run it’s going to return positive equity 🤞🏾
Thanks for your comment! Of course, investing in the stock market does carry a degree of risk, and you have to decide if it's a risk you're comfortable with.
The only issue I have is the pension itself. Whilst it may be tax free to contribute to your pension - your pension withdrawals will be taxed on its way out.
Not necessarily. Remember you have 12,570 personal allowance in retirement too. If you crystallise say 15k pension 25 percent is tax free and the rest falls within your personal allowance so tax free
So you need to draw down your pension carefully, rather than all at once. As someone else has said, if you draw down £16k p.a. then 25% (£4k) is tax free and the remaining £12k is below your personal allowance, so you pay no tax at all. Although that assumes this is your only income; using up your personal allowance like this could mean that other income falls above your personal allowance and therefore gets taxed.
@stevenrix7024 you have personal savings allowance and dividend allowance too so investment income might fall tax free. Furthermore, just because you are retired, that doesn't mean you can't add to your pension. For example, you can legally recycle 3.8kpa into your pension. Draw more money from the pension, then you need and reinvest it back and get tax relief and an additional 25 per cent tax-free cash.
Once again, like so many others you do a disservice by dragging out the video. I am now turning off having not got the info I would liked, but life is too short to go right to the end of the video with you.
It is your moral public duty to pay the tax you owe so that public services like the NHS are funded properly. They should seriously go after tax dodgers and lock up those that help them.
If you think refugees have it easy, get real. They have to live on a lot less than uk citizens who are on benefit, and they are usually not allowed to work while their claim is being processed ( which can take years)
Talking about people working aren’t you I wish to explain that from the beginning of the program are you talking about working people actually work on the bloody money you’re not talking about pensioners or savings would be my savings savings in the bank or do you mean I think that’s a savings that supposed be tax-free and it didn’t explain it very clearly at all Matthew all the same on here
Pensioners can put money in ISA tax free. Also in Fixed rate saving or Fixed rate bonds to earn 1k interest tax free Per year. You can also use Premium Bonds as pensioners.
Nice video. Another option I recently found out about is buying GILTs. The key is to buy them at a low price and low coupon. The coupon is taxed but the capital gain is tax free.
Yes, I'm surprised that she didn't mention it.
Brilliant video! Everything explained clearly and thoroughly. I struggled as a pensioner to get to grips with savings, ISA, interest, small pension, state pension etc. Even HMRC couldn't explain it as well as you (and that with with FOUR phone calls - at 7.59 am!! - hint!) One thing I don't understand: I have Premium Bonds and know that winnings are tax free. But what if I win, say, 50K. It's interest free, but surely most people, including me will put that money into a savings account which requires tax to be paid. The alternative is to spend it I guess but who does that?! Thanks again.
Purchase UK Gilts which are tax free.
Premium bond winnings are given to you tax free.
What you do with that money afterwards is entirely up to you and you may be liable to tax depending what you do with it.
You’re unlikely to win on Premium bonds
@wolfman909 that's not true. The pay out is on average 4.5%pa if you have a full set of them
I've had bonds now for 3 full months and have already won 625 pounds. That's pretty good but of course I may not get more for 30 years! @@wolfman909
Nice summary. Another option could be putting any "spare" cash into a general trading account if you've exceeded the limit on tax-free wrappers (pension/ ISA / premium bonds). You could get up to £500 in dividends tax free or up to £3000 in capital gains on selling shares before paying tax (currently....let's see what Rachel Reeves does though!).
You can also use a S&S ISA as a savings account if you buy a money market ETF e.g. CSH2 inside the S&S ISA which currently gains/pays over 5%/yr with minimal risk. If you use a flexible ISA then you can put the money back in later too (max. 20K before April 6th 2025). That way you get a better rate than Cash ISA or a taxable savings account.
I was really pleased with myself when I realised I had all these options in place as I always thought I was a bit of thicko when it came to this sort of thing and far more switched on people than were doing it differently and earning more tax free interest. Thank you.
Thanks for the post. I wasn't aware of the Starting Rate for Savings and think I'll be able to make use of it in 2024/25. I've just retired (with a small occupational pension of £9k pa) and don't get any state pension for another 6 years. My cash is held in PSBs, stocks/shares ISA and a taxable savings account (4.5% pa atm). Let's see what Rachel Reeves comes up with in her budget shortly though before I celebrate!
Thank you for the video, crystal clear. The only thing is that every single finance channel agree that it's so good to invest in the s&p500, should we not start to be worried when everyone agrees about how good a particular investment is?
It's a great con to be taxed on nominal savings interest, should be calculated on inflation adjusted interest earned. Imagine paying 40% tax, say 100k in the bank 2022, 5 % interest, 10% inflation after year your spending power reduced and your taxed... No tax should be due as no gain... Taxed on a loss is crazy
You have to make 10% or you are lossing
Its called theft.
Really appreciate the videos on taxes. Keep them going 💪
Sorry to ask probably a silly question but how does money and tax come into play if you 100k, say, but in a current account only or is everything solely based on amount you have anywhere...
Question! If I have £40000 and I keep £20000 in ISA account that pays me £800 interest after a year and I keep the other £20000 in none ISA account that also paid me £800 of interest for that year. Given that I didn’t exceed the £1000 allowance on the none ISA saving account do I pay any tax? Or I did exceed because together with ISA account I made £1600 so I have to pay tax anyway?
No tax payable
No tax payable
Possibly until the next budget in October
@@Piccyman1 I don’t understand
Only the interest earnt outside the ISA would be part of the tax calculation. But since that sum is below £1000, the amount that is tax free annually, you are fine.
Thanks for posting this, it was very insightful.
Glad it was helpful!
my favourite accountant… can’t wait to become rich so i can officially access your services :)
clear, concise, very useful
Glad it was helpful
Err, one does not have to share the £20,000 in a stocks & shares ISA with a cash ISA (8:14). You could have all of the £20,000 in a stocks & shares ISA, or all of the £20,000 in a cash ISA. A minor error, and I knew what you meant. Good video, thank you.
Thanks for pointing that out, yes you can have all of your money invested in just one!
Thank you, do you do one to one consulting please?
Thank you.
It is important to shelter your assets from wasteful and profligate governments. The present incumbents go on about the need to plug a £22 Billion financial black hole. And how do they go about addressing this? By giving away billions in foreign aid, giving money away to Africa for climate issues, and financing foreign wars. Enough is enough.
I have zero qualms about tax avoidance (not evasion) - in fact, in light of what I have just said, I consider it a moral duty to do so until we get our own house in order - starting with our roads.
That was all being done by the previous government, I bet you didn’t complain then !
Thank you for your clear explanation.
I work and pay tax overseas, however I also have a fixed rate bond (in a Jersey-based institution) which is maturing at the start of 2025, when it will pay the bond+profit into my UK-based HSBC account. How can I check if I’m required to pay tax on the bond profit in the UK? How do I calculate my PSA in this case?
At 57 I’m taking just below £12570 PA Pension drawdown. In addition to that, £3500 PA from Cash eISA’s (I have 77k in ISAs), and £2500 PA from a Saver Account interest…. I thought the £2500 is below the £5k savings interest ruling. And ISAs aren’t taxable….. am I ok with all of this? Thx. 🙏🏼👍
Understanding long term versus short term capital gains rates is important for growing your wealth.
Those who are 50 or older can add $7.5k to the basic workplace retirement plan to max out their retirement accounts and employee benefits.
That's a good thing to help yourself, but it doesn't change the disproportional size of wealth distribution. Spread your money across different types of investments. A good financial advisor would do.
Well said, I totally get that. Working with someone like ERIC PAUL ELMER could give you the confidence that your start up capital is working for you, even in uncertain times. He's been in the business for years and knows how to navigate these situations
Well, he looked at my entire financial picture and helped me diversify. Although I had retirement plans but I necessarily did not have to wait. We put some of the money into conservative investments to generate steady income, while also setting aside some for more growth-oriented opportunities. He also kept some liquid in case a good real estate deal came along.
There's of course no specific time to make retirement/investment decisions. It's a good thing to have professional guidance and how do I get to ERIC PAUL ELMER?
Many thanks. When we fill in our uk tax return, do we enter all interest we earn (not ISA etc) and not deduct the £5000 or £1000 for starting rate for savings and personal savings allowance?
Thanks Kiran
The tax rates are different in Scotland…
If savings are held in a joint account, are each of the account holders able to claim their personal annual allowance if they are taxed separately ?
Very good ideas. I'm interested in the 'cash for 12 months worth of projects' pot. I've heard about the 3-6 months of salary for emergencies, but do you mean also 12 months of salary held as cash savings? Or some other % of income? This is for what, holidays, new carpet, home improvements..? 12 months salary would be a lot of cash to have around not in say the stock market.
Thank you for watching! For some people, having their money easily accessible may be the best option if they know they will be making a large purchase, doing renovation works etc. in the very near future
@@KiranKaurFinance good idea thanks
Really enjoy your content! I’d love to help in a small way with how to make your video look more cinematic. (14 years as a film maker) just need one key light and reduce the day light coming in the room! Hope that helps. Reach out if need anymore advice
Really good. Thanks
Thank you too!
❤ Fabulous video ❤🎉
I opened a cash isa but deposits were only allowed for the first 6 weeks so I’ve missed out to invest the full amount. Can I open another cash isa in the same year? Thanks
Hi there, since 6 April, you can subscribe to more than one ISA of the same type in a tax year (except for lifetime ISAs). There are rules so make sure to check these!
I’m not sure we’re lining the pockets of the HMRC!
Zelenski bonus’s to keep the agenda going.
Better idea. Hold all your savings in Legal Tender gold coins, Sovereigns and Britannias. Both are free of all taxes and are likely to rise in value faster than any interesr rate you can get at any bank.
I totally agree, and as a stacker myself, I would also recommend gold sovereigns and Britannias as anything else is an easy target for tax. Also these can be passed on to loved ones. No capital gains tax.
But the government is likely to make changes to ISAs
How do you know this?
I've got £100k to invest. I want to build a nest egg for when I'm older. I want to know if it's a good idea to add all my savings into a long term ETF, set and forget Come back in 20-30 years, instead of 250-300 DCA every month. Which ETF would you recommend?
As they say, time IN the market is better than trying to time the market. I think you should seek advice from a licensed financial advisor..
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 275 cash earning 5.25 interest, 685k in 401k, 120k cash account, 80k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed within a short period.
How do I reach out to a financial advisor, my portfolio has been struggling since 2022 and I’ve been holding on by the skin of my teeth.
I've stuck with the popularly ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
thank you for putting this out, it has rekindled the fire to my goal... was able to spot Aileen after inputting her full name on the web, she seems highly professional with over a decades of experience.
National savings is another option for tax free savings without limits on the amount that can be invested. To produce a tax free income at any age or for retirement purposes , investing in a stocks and shares ISA is well worth considering , If invested into high yielding shares paying say between 5 to 9 % dividend yield , all the dividends are completely free of tax . If the income is not yet required then each dividend received can be used to buy even more dividend shares and thus the income produced will grow exponentially all completely tax free !
Thanks for sharing!
Why isn't indexation taken into account for savings income?
The message labour is giving out is: Dont invest or save or start a business.
True.
Why no mention of holding gilts to maturity?
Well ISA’s going?
Premium bonds I’ve found are a dead loss. I had 30k in bonds, I got £25 win in a year.
Some you win, some you lose. My winnings this year has given me a 3.5% interest rate, which I'm happy with!
thanks
Hmm, in 2021 savings accounts were paying about 0.5% whereas you can get 4-5% nowadays. So of course the tax take for HMRC from that has increased massively. Good news for savers (if you ignore inflation…) but means more care is needed with your savings as there’s more to lose to the taxman…
Is it worth getting Premium Bonds instead Ms Kaur?
Sure is if you got money to spare as it’s almost instant access
Biggest con there is
She does mention PBs at around 6:15.
@@NA-dg3jx not if you been winning small amounts each month
Good place to hold a large amounts up to £50,000 tax free in addition to ISA options should you come into some money or want to reduce your tax on savings interest over £1000.00 or both.
These are the usual tactics.
I’ve already got £50k in premium bonds.
I’ve maxed out £20k in ISA
I can’t do pension, I’m 55.
How do I invest in S&P ETF when I’m living in the UK? To convert to USD then use what USA platform? Converting profits back to GBP will cost me in the exchange rate.
So why don't HMRC give a tax refund when inflation is 10% and savings interest is .5%.
Right
The utilization of after-tax money and tax-free growth makes opening a Roth IRA very advantageous. Through a careful guidance of my FA, I did not pay taxes on my withdrawals of $2.86 million when I retired.
I don't regret the numerous financial mistakes I've made in the past since I've learnt from them. But the biggest one was planning my finances without consulting with a licensed financial counsel.
Indeed, I did make use of a financial counselor. As I get closer to retirement, their advice has been really helpful. I thought compound interest on index funds wouldn't be sufficient because I started late. It's amusing how I've done better than colleagues who have more years of investment experience. I've profited more than $886k tax free.
I plan to employ the service of an asset-manager this year. I've seen some off social media but wasn't able to get a response. Could you recommend one?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘Grace Adams Cook’ for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Just ran an online search on her name and came across her website; pretty well educated. thank you for sharing.
You never mentioned gold because on long term investment its gains 8%. And you can always sell taxes free if you need any money.
Only worth it if you can buy at a low price.
@@jeremyhares979 hmmm, I bought gold at an all time high in 2018, at that point it was around £36 per gram. I was going to buy more a few months ago at just under £60 a gram. It’s now £64 a gram. When exactly is gold going to drop in price, or given the instability in the world right now will it gradually keep going up???
So long as gold remains a long term investment, and it’s part of a balanced portfolio, now is as good a time as any to buy!
I think you are missing a trick here by not highlighting the tax benefits of buying gilts at a discount with low coupons.
where can we do that? platforms have a premium in them.
You need to open a share trading account and then you can buy gilts on those platforms.. x-o, HL and ii are examples of where you can buy gilts.
@@egg399.You can buy with Hargreaves Lansdown. £11.95 transaction fee when you buy, but no holding fees. Let them mature and there's no selling fees at the end.
What's s&p 500?
The S&P 500 (Standard & Poor’s 500) is a market-capitalisation-weighted index of 500 leading publicly traded companies in the United States.
While it is often used as a benchmark for the overall performance of the U.S. stock market, it’s not simply a list of the top 500 companies by market capitalisation. It includes companies that meet specific criteria, such as profitability, market liquidity, and sector representation, making it a more selective index.
It's not an exact list of the top 500 U.S. companies by market cap because the index includes other criteria.
@@djswiftie thank you
@@lj6079 you’re welcome. Most people who may not want to play the pick the share that’s going to return me the largest investment possible game. Stick their stocks and share ISA investment on the S&P 500 cause in the long run it’s going to return positive equity 🤞🏾
I really want to hire you as my accountant! How can I contact you ?😅
Investing in S&P500 is full of risk. It is not savings account....
Thanks for your comment! Of course, investing in the stock market does carry a degree of risk, and you have to decide if it's a risk you're comfortable with.
Convert FIAT currency into CGT free #gold and #silver bullion coins possibly?
Hardly a 'trap'
The only issue I have is the pension itself. Whilst it may be tax free to contribute to your pension - your pension withdrawals will be taxed on its way out.
@@EggchaserNZ 25pc is tax free on way out, rest is subject to income tax at current rates
@@steve6375I really hope Labour don’t come after that 25%
Not necessarily. Remember you have 12,570 personal allowance in retirement too. If you crystallise say 15k pension 25 percent is tax free and the rest falls within your personal allowance so tax free
So you need to draw down your pension carefully, rather than all at once. As someone else has said, if you draw down £16k p.a. then 25% (£4k) is tax free and the remaining £12k is below your personal allowance, so you pay no tax at all. Although that assumes this is your only income; using up your personal allowance like this could mean that other income falls above your personal allowance and therefore gets taxed.
@stevenrix7024 you have personal savings allowance and dividend allowance too so investment income might fall tax free. Furthermore, just because you are retired, that doesn't mean you can't add to your pension. For example, you can legally recycle 3.8kpa into your pension. Draw more money from the pension, then you need and reinvest it back and get tax relief and an additional 25 per cent tax-free cash.
lets wait for labour to make things even more difficult this month end i guess 🙄
We all need to pay tax and yet everyone wants to not pay tax. Its complicated for a reason, to make sure the rich pay less.
Lining HMRC's pockets? Surprised to hear a professional accountant say that.
She's right though.. isn't she.
Except for viewers in Scotland.
Premium bonds is a bunker. My friend bought her premium bonds in 1965. In 60 years she won…. ZERO. Not even a penny.
Tax on my earnings, now taxed caused i saved. Greedy government
lets see what happens on Halloween Trick or Treat
Trick would be my guess .
Once again, like so many others you do a disservice by dragging out the video.
I am now turning off having not got the info I would liked, but life is too short to go right to the end of the video with you.
It is your moral public duty to pay the tax you owe so that public services like the NHS are funded properly. They should seriously go after tax dodgers and lock up those that help them.
Less words and more information please.
There is a simple way to avoid all this craziness....i WILL not say what that is but, i WILL say...use your common sense...it is not genius strategy.
Anyone else think Labour have done this tax increase to pay for the luxury life they have given to all these refugees . ?
If you think refugees have it easy, get real. They have to live on a lot less than uk citizens who are on benefit, and they are usually not allowed to work while their claim is being processed ( which can take years)
Stuff it under the bed!!
I WAS TOLD ISSA WAS TAX FREE AND NOW I PAY TAX. GREAT SO NO MORE SAVING MONEY IN GOVERNMENT ISSA FOR ME.THE UK IS DONE.
There theives
Talking about people working aren’t you I wish to explain that from the beginning of the program are you talking about working people actually work on the bloody money you’re not talking about pensioners or savings would be my savings savings in the bank or do you mean I think that’s a savings that supposed be tax-free and it didn’t explain it very clearly at all Matthew all the same on here
Pensioners can put money in ISA tax free.
Also in Fixed rate saving or Fixed rate bonds to earn 1k interest tax free Per year.
You can also use Premium Bonds as pensioners.