Where to invest

smiley_jane

Dear Martin,
After clearing credit card debts. I will be left with £55k following the buyout (home) by my ex I hope to seach for a new property in the spring. Am I subject to taxation on this money? My new partner was approached by a well known film company regarding investing in a new production which boasted good tax breaks and with interest amounts being so low in the finance houses would this be a good investment? or should I take my chances with the premium bonds? I would value your opinion Thanks Smiley Jane.

bendix

There is a good rule in investing. If someone asks you to invest in their project, it can't be that good, otherwise they would have investors queueing up already.

You want to buy a new property in the spring. That's only 3-4 months. Stick the money in a savings account and don't risk losing it on some shonky film deal, irregardless of how good it sounds on paper.

You're not investing this money. You are merely storing it for a few months. That is a completely different thing altogether.

Lokolo

lol I love it when people start posts with 'Dear Martin', always makes me laugh.

Anyway, not sure about the taxation issue as I don't think it is classed as a gift as its for a house. Capital Gains maybe? Not sure.

Anyone trying to get you to buy into something you do not understand is a salesman and they should be stayed away from. It may give tax breaks and such but you could lose it all. Don't do ittttt.

Premium Bonds have a maximum of £30k from memory. They also have an average yield of 1.5%. You obviously can get more than this, but you can get a lot less.

Theres always savings accounts if you want a guarenteed return of some sort.

jon3001

I'd say take a punt on the film production. Especially if it has 'Zombies' in the title.

dunstonh

My new partner was approached by a well known film company regarding investing in a new production which boasted good tax breaks and with interest amounts being so low in the finance houses would this be a good investment?

For someone with just 55k then no. Yes there are tax advantages but its very high risk and very long term potentially.

or should I take my chances with the premium bonds?

LOL. Talk about extremes. WHat you have asked is a bit like saying you need a vehicle and have narrowed it down to either a Ford Fiesta or a Boeing 747.

Lokolo

dunstonh wrote: »

LOL. Talk about extremes. WHat you have asked is a bit like saying you need a vehicle and have narrowed it down to either a Ford Fiesta or a Boeing 747.

Don't diss the speed mobile.

sabretoothtigger

747 every time, if you run out of money for petrol you can just live on it instead

dunstonh

sabretoothtigger wrote: »

747 every time, if you run out of money for petrol you can just live on it instead

Hey, thats my house. Do you think I should get the car ports expanded to fit the vehicles.

Lokolo

dunstonh wrote: »

Hey, thats my house. Do you think I should get the car ports expanded to fit the vehicles.

How can you afford that? Oh yeh, from all the commission and rebate you get hehe.

Aegis

smiley_jane wrote: »

Dear Martin,
After clearing credit card debts. I will be left with £55k following the buyout (home) by my ex I hope to seach for a new property in the spring. Am I subject to taxation on this money? My new partner was approached by a well known film company regarding investing in a new production which boasted good tax breaks and with interest amounts being so low in the finance houses would this be a good investment? or should I take my chances with the premium bonds? I would value your opinion Thanks Smiley Jane.

No, it would not be a good investment. If you need the money in the spring, stick to cash.

Aegis

Lokolo wrote: »

Anyway, not sure about the taxation issue as I don't think it is classed as a gift as its for a house. Capital Gains maybe? Not sure.

No Capital Gains Tax on a property sale when it was the principle residence. Presumably that's what happened in this case, so I can't see how a CGT liability would arise.