Tax Exempt Savings Plans [TESPs]

innovate

planteria wrote: »

not true. no fibs from me. i have sent innovate 2 messages, rather than the 9 he currently claims, both trying to be nice. as it happens i have also sent 2 messages to another contributor to this thread.

You sent me no PMs at all because my inbox doesn't take PMs. However, you attempted a total of nine times to send me PMs. You may not know this but people do get email notifications when there is a failed PM attempt. I have 9 such emails, due to your failed attempts.

Thank you for confirming you are using PMs to others, too - - just what I would expect from some sly salesman.

The other thing sly salesmen do is to only answer questions selectively. You are a master of that tactic but not everyone is falling for that spiel.

jamesd

innnovate, you think that simply sending someone else a PM is wrong? You might want to reconsider, since unlike you, planteria does know both the content and the addressee.

innovate

jamesd wrote: »

innnovate, you think that simply sending someone else a PM is wrong?

No, not at all, in principle. However, planteria keeps avoiding questions such as what are the benefits.......(see earlier posts for details) and instead tries to resort to PMs, I do have an issue with it. It's tactics used by sly salesmen who are trying to pull the wool over people's eyes.

Anyway, since planteria keeps avoiding questions, I have drawn my own conclusions about their ability to articulate the benefits of the products they are promoting, whether with or without any "in-your-face" referral efforts.

However much planteria will be bored by me pointing this out over and over again, I will do so as long as planteria keeps promoting TESPs.

jamesd

innovate wrote: »

No, not at all, in principle. However, planteria keeps avoiding questions such as what are the benefits.......(see earlier posts for details) and instead tries to resort to PMs, I do have an issue with it.

Planteria referred to PMs to another participant in this discussion. That other person was me. I am the person who initiated that exchange. The PMs did not seek to promote the product at issue here.

innovate wrote: »

It's tactics used by sly salesmen who are trying to pull the wool over people's eyes.

They can be but in this case they were not.

Planteria didn't know as much about the product class as you, me, jem16 or dunstonh or others. And didn't know about the referral rules here. So the forum team ended up removing a discussion. If this one continues as it has been, this one is destined for the same fate because it's now effectively just a continuation of that past discussion that the forum team already acted on. And usual practice there is just to try to complete the cleaning up by deleting again, while getting unhappy with those who prolong something they already tried to clean up, thereby wasting their time.

innovate wrote: »

Anyway, since planteria keeps avoiding questions, I have drawn my own conclusions about their ability to articulate the benefits of the products they are promoting, whether with or without any "in-your-face" referral efforts.

There really aren't significant benefits for basic rate tax payers in most cases, and in particular not for these particular products, so there's really little chance of Planteria being able to do that successfully here. You, I and others would simply say so and why, as we already have done.

innovate wrote: »

However much planteria will be bored by me pointing this out over and over again, I will do so as long as planteria keeps promoting TESPs.

You have perhaps missed what's happening now. Planteria knows Planteria screwed up by not knowing the referral rules. What's happening now is that Planteria is just playing with you and you haven't realised it yet.

Best things to do are easy:

1. Stop playing.
2. If Planteria tries self-promotion again, report the discussion to the forum team and let them take care of it and Planteria.

At the moment the only promotion of TESPs that's going on is this thread being active and the topic continually being bumped in the topic list. The solution to that is easy: stop.

But I know that you're really reluctant to do that because it's not how your personality seems to work. Even if it is the right solution. But maybe me explaining might work. Or not, but it's worth a try, since you don't seem to realise you're being played with.

Sometimes the best thing to do is not reply. This is one of those times.

planteria

innovate wrote: »

However, you attempted a total of nine times to send me PMs.

untrue. just a thought, but as your inbox was full, does MSE attempt to resend them to you? if so, then you might not be fibbing. but you are still wrong.:A

innovate

jamesd wrote: »

At the moment the only promotion of TESPs that's going on is this thread being active and the topic continually being bumped in the topic list. The solution to that is easy: stop.

Yep, agree 100% with you. You, and everyone else, will notice that I only ever lept into action after planteria posted some more stuff in this thread. I will continue to do so if planteria doesn't let off promoting TESPs, or until planteria posts a convincing, and credible, case for TESPs, whichever will happen first.

planteria

great post james.

in the interests of complete honesty, i have actually sent 2 PMs to each of 3 contributors to this thread. none of them pushing TESPs, more general comments re. the tone of this thread / responses to messages re. similar. they are innovate, jamesd and one other.

jamesd wrote: »

If this one continues as it has been, this one is destined for the same fate because it's now effectively just a continuation of that past discussion that the forum team already acted on.

.....this can be the only thing that innovate is trying to achieve, surely? i started a new thread, with no referral suggestion. it really is glaringly clear. if this thread is removed, that would be wrong, not me starting the thread. we should be able to discuss any type of product openly and frankly without this nonsense. but, fwiw, i won't be holding any grudges. and i was actually just offering to buy innovate a beer.:beer:

from know your money:

"Tax Exempt Savings Plans

Tax Exempt Savings Plans (TESPs) offer a tax free savings allowance (up to £25 per month) in addition to your Individual Savings Account (ISA) £5,640 cash threshold. They are offered by Friendly Societies giving you a tax efficient way of maximising your yearly saving allowance. TESPs are available either as a Child Tax Exempt Savings Plan or an Adult Tax Exempt Savings Plan and they pay-out a lump sum at the end of the agreed term.

Available through the so called 'friendly societies', a tax free savings plan - or TESP - offers you another way, on top of your annual ISA limit, to keep the interest you earn on your savings away from the clutches of the taxman.
Deemed to be an ethical or 'family friendly' way to save, TESPs often offer add-on benefits like life insurance or discounts on other banking products. Although the investments are usually linked to the stock market - meaning the money could be liable to go down as well as up - you can often find accounts which will guarantee a minimum return of the amount you put in.
TESPs tend to operate as a long term regular savings account - with terms of 10 years most common. When the account matures you get a lump sum payment of everything you've saved plus all of your interest, in full, without being looted by Her Majesty's infamous Revenue and Customs.
Usually, you can't withdraw any of the money in the account before you reach the end of the term. However, sometimes accounts offer you the chance to withdraw a certain percentage of the total at a pre-agreed interval.
There are both adult and children's TESPS available. With the former you are limited to saving a maximum of £25 per month. With the latter, some accounts allow you to save up to £100 per month.
With children's TESPs - sometimes known as family savings accounts - you can often choose to have the account mature on a specific date such as the child's 21st birthday. A minimum of 10 years is required though."

http://www.knowyourmoney.co.uk/tax-exempt-savings/#ch

innovate

planteria wrote: »

untrue. just a thought, but as your inbox was full, does MSE attempt to resend them to you? if so, then you might not be fibbing. but you are still wrong.:A

The MSE forum software sends one email for each failed attempt. I got 9 emails for failed attempts by planteria to send me PMs, on two different days.

Stop accusing me of fibbing, will you, please. Or provide proof that I ever did, in any of my 13,000+ posts on MSE.

innovate

planteria wrote: »

we should be able to discuss any type of product openly and frankly without this nonsense.

Exactly. So why don't you - since you are the one who is promoting TESPs - answer the questions I have asked asked multiple times now:

I might have missed it but I don't think we have ever seen a post from planteria that answered the question (asked several times) what the benefits / advantages of a TESP are over and beyond maxing an S&S ISA or a SIPP, and (once they are maxed) a non-wrapped self-selected investment account.

planteria, would you please
- either post a link to your answer (which, if it exists, will make me apologise for this post)
- or post your answer

planteria

i only sent you two PMs.