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£100k to invest
Comments
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Why have you eliminated all the tax wrappers to say that unwrapped is best?Foreverfinance said:Why not consider a general investments account? Of course, you have to pay 20% tax but if your looking to invest this 100k for the next 15 years you could see some great returns.
Tax wrappers/unwrapped accounts do not make money. It is the investments you place inside of them. So, just having a GIA does not mean you will see great returns.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.6 -
You do not pay 20% tax on a GIA.Foreverfinance said:Why not consider a general investments account? Of course, you have to pay 20% tax but if your looking to invest this 100k for the next 15 years you could see some great returns.
https://www.gov.uk/capital-gains-tax
And as dunstonh says why would you ignore tax efficient wrappers?0 -
If the ISAs are cash ISAs then surely it's better to use those for investments rather than using a taxable investment account?Foreverfinance said:Why not consider a general investments account? Of course, you have to pay 20% tax but if your looking to invest this 100k for the next 15 years you could see some great returns.Remember the saying: if it looks too good to be true it almost certainly is.0 -
SS ISA, Pension (SIPP), LISA, JISA, what other tax wrappers 'from the high street' are available? I thought none but would be good to know if I missed any!
And as above 'You do not pay 20% tax on a GIA'... to clarify it's my understanding from a GIA you'd be liable to:
1. Dividend taxation if dividends were over 2k, rate depends on your tax band
2. CGT, but ONLY if you decided to sell and ONLY if you were above the 12,300 threshold for CGT for a given year? (Rate 10% or 20% depending on band)
And that's it.0 -
Cool! I didn't know about that one. P2P doesn't seem especially attractive at the moment so I don't think I'll sacrifice my SS ISA limits for it but it's good to know for the future. Yay more stuff learnt today!0
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