Advice Wanted

Kazza242

jimclark1967 wrote:

Wow - thanked by :money: that really is a claim to fame!!!

LOL :rotfl:, well you can imagine my surprise when I realised the thank you had come from Martin and not the original poster. Thank you for the thanks, Martin, I do feel honoured. :dance:

shrifty78

Kazza242 wrote:

After you've got an emergency fund in place, in maybe a cash mini isa - as the interest is not taxed, then it might be a better time to think about investing in shares. Shares are a middle to long term investment. If you are likely to need to cash them in, in the short term then you could lose out, as the share prices may have fallen when you need to draw the funds. This is why I would recommend having easy access cash savings available in case of emergency.
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If I was to invest in shares what would be my liability to tax then? In the last tax year I earned just under £31k so it's a fair assumption, a proportion of my salary will be payable at 40% this year. Would I have to pay 40% against any increase in the value of the shares and any dividends, or can some of this be included as part of my Capital Gains allowance. Would a Self-Select Share ISA be a better idea?

It's all a little confusing :eek:

isasmurf

shrifty78 wrote:

In the last tax year I earned just under £31k so it's a fair assumption, a proportion of my salary will be payable at 40% this year.

Wow! You're going to get an increase in salary of over £6,000 this year? Can I have your job?