LTA - is this just sad or what...?

artyboy

So with the current buoyant markets, I'm within a hairs breadth of breaching the LTA. Wouldn't it be cool to do that on exactly the day that it's abolished for good?

Yes, as I said, possibly sad... and obviously academic given that going over doesn't matter until you withdraw the excess. But sort of interesting to me anyway.

penners324

What LTA? It was got rid of last year

artyboy

penners324 said:

What LTA? It was got rid of last year

Well sort of, it's not formally abolished until the end of next week...

Flugelhorn

it is sad I am afraid, though I do remember the determinedly trying to calculate it 99.8%, took the pension and got a load of back pay and it went to 101%  

Marcon

penners324 said:

What LTA? It was got rid of last year

Still (effectively) impacts on tax free cash though.

Cus

artyboy said:

So with the current buoyant markets, I'm within a hairs breadth of breaching the LTA. Wouldn't it be cool to do that on exactly the day that it's abolished for good?

Yes, as I said, possibly sad... and obviously academic given that going over doesn't matter until you withdraw the excess. But sort of interesting to me anyway.

Sad I'm afraid. If you had actually hit the exact number on the exact date then possibly slightly interesting to a select few on here.  Preempting that possible moment is not (for me)

artyboy

Cus said:

artyboy said:

So with the current buoyant markets, I'm within a hairs breadth of breaching the LTA. Wouldn't it be cool to do that on exactly the day that it's abolished for good?

Yes, as I said, possibly sad... and obviously academic given that going over doesn't matter until you withdraw the excess. But sort of interesting to me anyway.

Sad I'm afraid. If you had actually hit the exact number on the exact date then possibly slightly interesting to a select few on here.  Preempting that possible moment is not (for me)

I'll keep you posted next week. As you clearly want to know, in a passive aggressive sort of way 

Cus

artyboy said:

Cus said:

artyboy said:

So with the current buoyant markets, I'm within a hairs breadth of breaching the LTA. Wouldn't it be cool to do that on exactly the day that it's abolished for good?

Yes, as I said, possibly sad... and obviously academic given that going over doesn't matter until you withdraw the excess. But sort of interesting to me anyway.

Sad I'm afraid. If you had actually hit the exact number on the exact date then possibly slightly interesting to a select few on here.  Preempting that possible moment is not (for me)

I'll keep you posted next week. As you clearly want to know, in a passive aggressive sort of way 

Ha, if you are over or under, you'll be back I'm sure

artyboy

Cus said:

artyboy said:

Cus said:

artyboy said:

So with the current buoyant markets, I'm within a hairs breadth of breaching the LTA. Wouldn't it be cool to do that on exactly the day that it's abolished for good?

Yes, as I said, possibly sad... and obviously academic given that going over doesn't matter until you withdraw the excess. But sort of interesting to me anyway.

Sad I'm afraid. If you had actually hit the exact number on the exact date then possibly slightly interesting to a select few on here.  Preempting that possible moment is not (for me)

I'll keep you posted next week. As you clearly want to know, in a passive aggressive sort of way 

Ha, if you are over or under, you'll be back I'm sure

Well for what it's worth, I got to within about £500 of the old LTA last week (intraday) before the markets dipped - but I crossed the line as of yesterday's close.

It was all just a bit of fun anyway - I was only counting the immediate mark-to-market value of my DC pots, because if I'd included the notional 20x value of an old DB, as well as a fairly chunky dividend that will be paid on the 21st, then I'd have been well over on aggregate anyway...

There is of course a semblance of a serious point within all this, in that if this value is maintained, future pension contribution decisions will need to consider that my TFLS potential is already maxed out. If I never work again, I doubt I'll be doing the £2880 trick that is so popular here...

ex-pat_scot

I tripped over the LTA figure last November, since when it has continued to rocket. Now within a hair's breadth of £1.2m
I'm still heavily SSing into work pension, as even without the 25% notional tax free element it is still much better than taking as additional salary.

Interesting point on the £2880 "trick" - I hadn't considered that. I'm sure it will still work for Mrs XPS, who will be way under the LTA

MeteredOut

There's a number of "Dull Men's Club" groups on facebook who'd love this post

It won't beat the guy who tracked every parking space he used in his local Sainburys though, until he'd parked in them all. Took him 6 years.