Need to invest a lump sum.. any good strategies?

Albermarle

Silverbullet036 said:

Bigwheels1111 said:

snip

Thank you for the reply

I just figured that as long as I kept under the usual tax free totals everything would just sail along. Had no idea I would have to do a tax return , this does not interest me one tiny bit. Never ever done one and dont particularly want to start either. I may just have to whack some in an ISA wrapper and take the lower rates on offer

Not sure you should be changing plans just to not fill in a tax return. These are relatively simple to do online nowadays.
I was stopped doing tax returns , which I was not happy about. The reason is that once the return is filled in online, you get an immediate clear calculation of your tax position. Otherwise you have to wait months for HMRC to get round to doing it automatically and nowhere as clear.

Silverbullet036

Albermarle said:

Not sure you should be changing plans just to not fill in a tax return. These are relatively simple to do online nowadays.
I was stopped doing tax returns , which I was not happy about. The reason is that once the return is filled in online, you get an immediate clear calculation of your tax position. Otherwise you have to wait months for HMRC to get round to doing it automatically and nowhere as clear.

Surely it would involve trying to round up all the interest statements from all the providers I have accounts with ? Seems like more than a simple exercise , but then as I say I havnt done it before

masonic

Albermarle said:

I was stopped doing tax returns , which I was not happy about.

Out of interest, what prompted this to happen? I needed to register for SA in one tax year many years ago and have been completing them ever since, despite not meeting the criteria to be on SA. I would not be happy either if I was stopped.

masonic

Silverbullet036 said:

Albermarle said:

Not sure you should be changing plans just to not fill in a tax return. These are relatively simple to do online nowadays.
I was stopped doing tax returns , which I was not happy about. The reason is that once the return is filled in online, you get an immediate clear calculation of your tax position. Otherwise you have to wait months for HMRC to get round to doing it automatically and nowhere as clear.

Surely it would involve trying to round up all the interest statements from all the providers I have accounts with ? Seems like more than a simple exercise , but then as I say I havnt done it before

Providers should send you an annual certificate of interest just after the end of the tax year (sometimes needs to be requested). I track my interest as it comes in, so just need to read some figures from a spreadsheet when the time comes.

Bigwheels1111

I’m not employed or self employed anymore.
But it’s easy to do.
Takes me 10 minutes.

md258

One thing to look into is whether you can salary sacrifice your wife's salary into her pension and live on the sale proceeds.

This relabelling of your money may give you a 20% bonus to your investments without affecting your "money in the bank"