Do you want to discuss boring politics? (85 Viewers)

[Grendel]

You will apparently still be able to save £5k tax free in an ISA. If you can do that over a 40yr working career that's still 200 grand with tax free interest. Plus other options to invest and save.

Brilliant. You can actually still save £20K in a stock ISA

I am staggered you being an anti capitalist are supporting the financial institutions that have leant on the government to deter safe secure investing but still offer tax free deals for higher risk deals which rely on the stock market.

 

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[wingy]

Brilliant. You can actually still save £20K in a stock ISA

I am staggered you being an anti capitalist are supporting the financial institutions that have leant on the government to deter safe secure investing but still offer tax free deals for higher risk deals which rely on the stock market.

It's a valid point, but not surprised by any of it, I don't know if we were going that way but 5%of pension investment, might even have increased to another level?

 

[Sky_Blue_Dreamer]

Brilliant. You can actually still save £20K in a stock ISA

I am staggered you being an anti capitalist are supporting the financial institutions that have leant on the government to deter safe secure investing but still offer tax free deals for higher risk deals which rely on the stock market.

Who said I supported having £20k in a stock ISA? I was merely pointing out the factual information it was there as an option, along with many other options.

 

[Sky_Blue_Dreamer]

I'd bet the people who are going to do that aren't at the start of their working career!

There are stocks ISAs but it isn't a fixed, secure percentage like savings for people who like to play it safe

I do get about people liking a lower risk, lower return option. I was just saying that it would still be possible to put away a decent sum over the years in a savings ISA with the change in rules. Not like they've suddenly banned them.

 

[wingy]

How much Will it net?

 

[PVA]

I'd bet the people who are going to do that aren't at the start of their working career!

There are stocks ISAs but it isn't a fixed, secure percentage like savings for people who like to play it safe

Better return on a S&S ISA though.

But if you want to stick to a cash ISA then, I don't know how much you're looking to add in, but with a 5k tax free ISA and a standard savings account you can still save a decent chunk and not pay any tax on it (about 27k if you're a basic rate tax payer or 16k if you're a higher rate tax payer in Year One - I think, if my maths is right).

 

[Grendel]

Better return on a S&S ISA though.

But if you want to stick to a cash ISA then, I don't know how much you're looking to add in, but with a 5k tax free ISA and a standard savings account you can still save a decent chunk and not pay any tax on it (about 27k if you're a basic rate tax payer or 16k if you're a higher rate tax payer in Year One - I think, if my maths is right).

It seems odd don’t you think that there is now a two tier system on ISAs - I assume the stock and shares are hundred percent assured?

 

[PVA]

It seems odd don’t you think that there is now a two tier system on ISAs - I assume the stock and shares are hundred percent assured?

I'm not particularly on board with the regulation change all I'm saying is it would still be possible to put away a good chunk of money without incurring any tax if this new regulation comes in.

 

[Grendel]

I'm not particularly on board with the regulation change all I'm saying is it would still be possible to put away a good chunk of money without incurring any tax if this new regulation comes in.

You have a stock and shares ISA of course and you’ve totally avoided the question on risk

 

[Nick]

Will just put it under the mattress.

 

[Grendel]

Will just put it under the mattress.

Take a risk and the government will back you. Play safe and fuck off.

 

[PVA]

You have a stock and shares ISA of course and you’ve totally avoided the question on risk

Of course there is risk, but how long has S&S outperformed cash?

You seem to be glossing over my main point - Nick was saying he was concerned about the proposed changes and I'm saying it will still be possible to save a big chunk and not pay any tax. That's it. If I said the earth is round you'd suddenly turn into a flat earther just to have an argument with me.

 

[PVA]

.

Will just put it under the mattress

I'm trying to help you man you can still save it and make it work.

 

[Grendel]

That’s my councillor. He’s fucking useless (Finch).

Hopefully he’s not such a dickhead he won’t seek to close our football club

 

[Grendel]

Of course there is risk, but how long has S&S outperformed cash?

You seem to be glossing over my main point - Nick was saying he was concerned about the proposed changes and I'm saying it will still be possible to save a big chunk and not pay any tax. That's it. If I said the earth is round you'd suddenly turn into a flat earther just to have an argument with me.

1. it’s not a safe investment

2. you have a s and s ISA

3. Martin Lewis thinks it’s a shit idea

 

[PVA]

1. it’s not a safe investment

2. you have a s and s ISA

3. Martin Lewis thinks it’s a shit idea

1. It's a safe investment if managed properly
2. Yes, see point 1 for why
3. I haven't said it's a good idea

 

[Grendel]

1. It's a safe investment if managed properly
2. Yes, see point 1 for why
3. I haven't said it's a good idea

4 you have a Tesla
5 you went to a selective school

Well done Tarquin

 

[PVA]

4 you have a Tesla
5 you went to a selective school

Well done Tarquin

And the relevance of any of that is?

Fucking tool. Completely unable to debate the point so revert to talking about my personal life. Absolute freak.

 

[Marty]

I'd bet the people who are going to do that aren't at the start of their working career!

There are stocks ISAs but it isn't a fixed, secure percentage like savings for people who like to play it safe

Low cost index funds are the way to go for those with little tolerance for risk. Something like an S&P 500 index tracker fund returns on average 7-8%.

If you stick it in the bank, you need an interest rate higher than inflation for it to make sense, otherwise you're slowly losing money to inflation.

 

[fernandopartridge]

Sounds pretty Tory to try and nudge people to invest in stocks and shares

 

[fernandopartridge]

The UK stock market is ever growing but you don't see any real investment. It just feels like another instance of Reeves going for a hit and hope based on an illusion of how the real economy works.

 

[shmmeee]

Sounds pretty Tory to try and nudge people to invest in stocks and shares

Sounds pretty Tory to get up in arms about removal of a tax break for wealthy people.

 

[fernandopartridge]

The grown ups have got their welfare bill through, once again expending lots of political capital for no gains at all, and apparently no savings either. Delighted for that moron Liz Kendall.

 

[fernandopartridge]

Sounds pretty Tory to get up in arms about removal of a tax break for wealthy people.

Wealthy people are more likely to invest in S&S ISAs, look at your mate with the even bigger silver spoon PVA

 

[shmmeee]

The grown ups have got their welfare bill through, once again expending lots of political capital for no gains at all, and apparently no savings either. Delighted for that moron Liz Kendall.

Whole thing should have gone back to the drawing board once the rebellion was clear. As you say it’s worst of all worlds now.

Just Fucking raise taxes. All this salami slicing just pisses people off.

 

[shmmeee]

Wealthy people are more likely to invest in S&S ISAs, look at your mate with the even bigger silver spoon PVA

You Grendel and Nick the United Peoples Front. Protecting the ISAs and private schools of the working man. 🫡

 

[Nick]

You Grendel and Nick the United Peoples Front. Protecting the ISAs and private schools of the working man. 🫡

Christ. Jealous and bitter about "wealthy" people putting money in savings now?

 

[PVA]

Wealthy people are more likely to invest in S&S ISAs, look at your mate with the even bigger silver spoon PVA

I had some inheritance money from some dead grandparents. Is that not allowed?

 

[fernandopartridge]

Whole thing should have gone back to the drawing board once the rebellion was clear. As you say it’s worst of all worlds now.

Just Fucking raise taxes. All this salami slicing just pisses people off.

Didn't go far enough with the wealth taxes. CGT, IHT still too low. Likewise there should be another income tax bracket.

 

[fernandopartridge]

I had some inheritance money from some dead grandparents. Is that not allowed?

Was it the queen mother?

 

[PVA]

Was it the queen mother?

I think the Queen mother would have left a tad more than 15k.

 

[Nick]

I think the Queen mother would have left a tad more than 15k.

Should have given it all away to people not as fortunate as you. There's kids that need feeding and you're hoarding cash.

(Obviously sarcastic)

 

[Mucca Mad Boys]

It’s not even one year in and the government is in a complete shambles. We’re going to be having an election a lot sooner than we think.

 

[fernandopartridge]

It’s not even one year in and the government is in a complete shambles. We’re going to be having an election a lot sooner than we think.

Doubtful. What are the circumstances that will lead to an early election? They're not going to lose a confidence vote realistically with the majority they have.

 

[Grendel]

Meanwhile Stephen Timms last night said there would be no more amendments to the Bill. He then pulled half the legislation today to keep more rebellion.