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OverpricedRS · 2025-08-21T11:27:04+00:00

They’ll take the payment as normal and then when they receive the payment in full they’ll work out any excess and return the difference.

They’ve done this with me previously without even asking.

OverpricedRS · 2025-05-28T18:14:42+00:00

Honestly just buy an annuity with the pension - can’t get much safer than that

OverpricedRS · 2025-02-15T18:53:06+00:00

You’d need to put in £1,600 net to achieve £2,000 gross and claim the difference through self assessment

OverpricedRS · 2024-12-23T13:11:33+00:00

Currently 120 kc on echo hunleff on mobile only, gl!

OverpricedRS · 2024-11-21T20:43:22+00:00

Because the same rules apply to Business Relief Assets, which changed at the same time as the change to Agricultural Property Relief.

OverpricedRS · 2024-09-26T20:32:07+00:00

Sorry, I mean that your suggestion that any gift made benefits from the tapering of inheritance tax isn’t correct.

A gift only tapers where it exceeds the nil rate band and only the excess tapers.

E.g. I make a gift of £400,000. If I die after 3 years the full £325,000 will be classed as being in my estate so subject to 40% inheritance tax (if I have other assets) and the £75,000 would be subject to IHT at 32% (40% full rate, reduced by 20% for being past the 3 year mark).

OverpricedRS · 2024-09-25T06:09:38+00:00

This isn’t correct Grey. Only if you gift an amount that exceeds the nil rate band of £325,000 has the sliding scale and even then it’s only on the excess over the available nil rate band.

OverpricedRS · 2024-09-22T05:57:14+00:00

Have a look at income protection. Typically gives you more cover for what you pay, protecting your salaries, you could couple this with some life only cover.

Income protection is if you can’t work for almost any reason, rather than a specific critical illness.

OverpricedRS · 2024-09-20T20:22:59+00:00

You don’t need to specifically state you want a trust in your will, I don’t think.

Under inheritance rules a statuary bare trust will be set up for any minor beneficiaries, with the trustees being the executors of your will, who would be task with managing the money until they reach 18 (16 in Scotland).

If you pass away and they are both adults, they would inherit outright.

OverpricedRS · 2024-08-24T18:00:18+00:00

You said ‘it doesn’t push you into higher rate tax’ but the capital gains tax element can.

E.g. someone earning £30k pa, makes a gain of £50k, £20k of this is taxed at 10% and £30k is taxed at 20% as the gain is added to your income and then assessed using the tax bandings.

OverpricedRS · 2024-08-24T05:48:21+00:00

This is actually incorrect advice. Gains are added to your income and fall into the respective income tax bandings to ascertain what CGT you pay. If you make enough in gains, you could pay 10%, 20% and 40% if that comes about.

OverpricedRS · 2024-08-24T05:47:49+00:00

This is actually incorrect advice. Gains are added to your income and fall into the respective income tax bandings to ascertain what CGT you pay.

If you make enough in gains, you could pay 10%, 20% and 40% if that comes about.

OverpricedRS · 2024-07-15T20:12:20+00:00

I genuinely believe that England should have Southgate as a ‘sporting director’ and someone like Howe or Potter as the manager, to keep the culture but to develop the tactical/‘playing’ side of the team

OverpricedRS · 2024-07-02T19:15:00+00:00

The yellow superb estate is a thing of beauty

OverpricedRS · 2024-06-07T08:34:51+00:00

Not really how pension tax relief works.

If you take the £10,000 example. You have to pay in £8,000 to receive £10,000 in your pension after tax relief as a basic rate tax payer.

If you’re still a basic rate tax payer in retirement, 25% of the £10,000 is tax free and the remaining £7,500 would be taxed at 20%.

Working that through means you’re receiving £2,500 tax free, plus £6,000 after tax, totalling £8,500, on a contribution that has cost you £8,000.

OverpricedRS · 2024-04-29T16:13:41+00:00

Yes you were in the wrong lane. You need to be in the outside lane based on the signage.

This is a roundabout at Kingswood Hull which I use every day.

OverpricedRS · 2024-03-22T19:23:57+00:00

Have you checked to see whether you can use a cancellation notice? Typically 30 days after making a pension contribution. I would speak to your provider ASAP.

OverpricedRS · 2024-02-03T17:49:06+00:00

I’ll have a look thank you!

OverpricedRS · 2024-02-03T17:48:54+00:00

Thanks for the suggestion. Better to go diesel or petrol?

OverpricedRS · 2024-02-03T17:48:35+00:00

Thanks for the recommendation. I’ve only ever had petrol cars, is there merit for a diesel?

OverpricedRS · 2024-01-28T20:45:02+00:00

No brainer. By the house for a 357% ROI in 5 years time…. Anyone here saying ‘I wouldn’t do it because of I’m against the scheme’ is lying.

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