Nice people thread part 3- Nice as pie

PasturesNew

There was a bloke on Dragons Den, in North Devon, who makes a spinning chimney pot that is allegedly good for generating power.

He went onto the programme with some other product and they picked up on the fact he had the chimney pots - and one of them invested in that.

I found his website a couple of years back, but it was all very confusing to try to understand if they existed, how much it'd cost.

Just Googled it - he won an award last month for his wind turbine
http://www.thisisnorthdevon.co.uk/Genius-inventor-wins-award-wind-turbine/story-11723039-detail/story.html

He says his Secret Wind Turbine creates enough energy to run a house.
It has been designed to blend in with existing rooftop chimneys.

http://www.secretenergyturbine.com

STing

chewmylegoff wrote: »

well, not just interest paying assets, obviously you can hold shares in an ISA and avoid paying income tax on the dividends and capital gains tax on the disposals.

The underlying fund is liable for tax.

chewmylegoff wrote: »

contributing to a pension is also tax avoidance, although obviously you pay tax on the income from the pension when you draw it down - but since you can benefit from it by avoiding at 40% and paying tax at 20% in the future.

Tax efficient yes, but tax is paid. I was talking of investments which avoid tax - while not to mentioning certain forms of gold .

chewmylegoff wrote: »

there are other common ways of tax avoidance- e.g. gifting assets removes them from your estate for IHT purposes (as long as you don't drop dead for 7 years).

Again, this is avoidance. Different kettle of fish.

chewmylegoff wrote: »

also, you can avoid CGT by transferring an asset to your partner and using their annual CGT allowance against the gain.

Is the asset subject to tax from year to year?

I regret bringing this topic up.....:)

PasturesNew

Off his site:

Recommended package
for average 3 bedroom household

• One 75cm Turbine : £1250.00
• One 45amp controller : £172.60
• Five 110 amp batteries : £550.00
• One 2000 watt inverter : £270.00
• One changeover switch : £48.00
• Delivery & installation * : £400.00

Total : £2690.60
V.A.T @20% £538.12

Total : £3228.72

PasturesNew

I'll never have/earn/inherit enough for any form of CGT/inheritance/tax avoidance to be part of my life.

Doozergirl

lostinrates wrote: »

I just try and get the people we are [STRIKE]paying[/STRIKE]trusting to get other things on the house right to sort it out for us. I don't understand it either PN.

roof tile style ones and/or cheaper both sound good though....tell 'em to hurry up with them!

Roof tile style exist already. Not to produce all your electricity with one tile though!
http://www.solexenergy.co.uk/

Don't know about cheap though and I think you'd have to roof your roof to match the solar tiles rather than the other way around, but I think they look much more attractive.

We've been 'negotiating' over a house where we think we might be able to self-build in the garden. Architect is on holiday until tomorrow, we really need to get her round there but her initial thoughts were that stood we pretty good chance. So I've a renewed interest in energy efficiency myself now, maybe.

chewmylegoff

STing wrote: »

The underlying fund is liable for tax.

Tax efficient yes, but tax is paid. I was talking of investments which avoid tax - while not to mentioning certain forms of gold .

Again, this is avoidance. Different kettle of fish.

Is the asset subject to tax from year to year?

I regret bringing this topic up.....:)

well, you seem confused over what you think tax avoidance is.

all tax avoidance is, is paying less tax than you otherwise would.

thus the fact that a company gets taxed before it pays a dividend to you is not relevant - you are still avoiding tax by putting it in the ISA because if you didn't put it in the ISA you would have to pay tax on the dividend you received (well assuming higher rather tax payer). less tax paid (legitimately) = tax avoidance.

you've got me a little confused in the middle where you say that it is "avoidance so a different kettle of fish" - isn't avoidance what you were asking about. further, you were asking about "things like stamp duty" so i'm not sure why it needed to be about things which paid an income, but there you go!

is what you were really saying that you don't know many ways of paying no tax whatsoever at any stage of something?

there is no way of doing that unless you live in a cave and refuse to be part of society, because even if you don't pay any tax at all on the investment, you still have to spend it!

chewmylegoff

PasturesNew wrote: »

I'll never have/earn/inherit enough for any form of CGT/inheritance/tax avoidance to be part of my life.

you still get to pay income tax and NI though, so that's something to be pleased about!!

lostinrates

Doozergirl wrote: »

Roof tile style exist already. Not to produce all your electricity with one tile though!
http://www.solexenergy.co.uk/

Don't know about cheap though and I think you'd have to roof your roof to match the solar tiles rather than the other way around, but I think they look much more attractive.

We've been 'negotiating' over a house where we think we might be able to self-build in the garden. Architect is on holiday until tomorrow, we really need to get her round there but her initial thoughts were that stood we pretty good chance. So I've a renewed interest in energy efficiency myself now, maybe.

they look fab!

PasturesNew

chewmylegoff wrote: »

you still get to pay income tax and NI though, so that's something to be pleased about!!

Maybe not this year.... can't tell how it'll pan out. Tax free amount's gone up. Depends if my stuff bombs or not.

STing

chewmylegoff wrote: »

well, you seem confused

There's certainly some confusion here.

chewmylegoff wrote: »

thus the fact that a company gets taxed before it pays a dividend to you is not relevant

I was talking about tax within the fund.

chewmylegoff wrote: »

you've got me a little confused in the middle where you say that it is "avoidance so a different kettle of fish" - isn't avoidance what you were asking about.

I mistyped, I'm typing in between cooking my dinner. Men can't multitask. Should have written 'tax efficiency' in the middle. Thanks for the heads-up.

chewmylegoff wrote: »

further, you were asking about "things like stamp duty" so i'm not sure why it needed to be about things which paid an income, but there you go!

Where did I say it needed to be on something that paid an income?

chewmylegoff wrote: »

is what you were really saying that you don't know many ways of paying no tax whatsoever at any stage of something?

On readily available investments yes.

What's happened here is we're both answering different questions, my understanding is you're talking of tax avoidance as in tax efficiency where-as I'm talking of paying no tax on investments.

Two different subject.