Tax Exempt Savings Plans [TESPs]

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
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  • planteriaplanteria Forumite
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    jimjames: i use my full ISA allowance. despite thinking that there are some benefits to locking money out of reach via a pension, i think that an ISA allowance is the first priority. including ahead of a TESP. so i agree. and i am not advising anyone to the contrary.
  • innovateinnovate
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    planteria wrote: »
    :laugh: i don't. you keep telling everyone that i have offered them previously, and drawing attention to it.

    So why are we still discussing TESPs?

    And why will you not answer the repeated questions as to what exactly the benefits of TESPs are for people who either have, or have not, maxed, or not maxed, their S&S ISAs and/or SIPPs? It wouldn't be because you don't know, would it?
  • planteriaplanteria Forumite
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    i don't think there is anything wrong with me posting re. Regular Savings Accounts, Gold, Resources or other subjects.
  • planteriaplanteria Forumite
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    innovate wrote: »
    So why are we still discussing TESPs?

    if you don't want to discuss them, don't. :laugh:
  • innovateinnovate
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    planteria wrote: »
    if you don't want to discuss them, don't. :laugh:

    You could do yourself a lot of favours if you actually answered the question people have repeatedly asked you. It is beginning to look as if you don't have any answers, and just try , like a sly salesman, to move on with your own agenda.No regard to what other people think, or want to know.

    As an aside, please stop trying to PM me, planteria. You have tried 7 times now. My inbox will not take PMs, but more importantly, as I said a few days ago in response to your PM attempts, I prefer to discuss things in public.
  • jem16jem16 Forumite
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    planteria wrote: »
    you keep telling me what i would earn, regardless of my corrections :laugh:

    The information on what you earn for each referral is quite clearly laid out on the websites that you linked to earlier.
    i can pass on details of products for two Friendly Societies and people can read them and decide whether to become members of those Friendly Societies. that is how it is. whether you have an issue with it or not, i am afraid that remains how it is. anyway,........

    And when they decide to become members you receive the referral fee. That is how it is whether you try to laugh it off or not.
  • edited 30 June 2013 at 9:52AM
    jem16jem16 Forumite
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    edited 30 June 2013 at 9:52AM
    innovate wrote: »
    It wouldn't be because you don't know, would it?

    I think you have hit the nail on the head.

    Most of the investments planteria has made seem to be in an attempt to carpetbag rather than a serious attempt to invest. Carpetbagging has had its day and unlikely to reap many rewards now.

    If that's the way planteria wishes to go then fine, but he shouldn't be trying to drag unsuspecting people into investments that he clearly does not understand.
  • jem16jem16 Forumite
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    planteria wrote: »
    jimjames: i use my full ISA allowance. despite thinking that there are some benefits to locking money out of reach via a pension, i think that an ISA allowance is the first priority.

    Whether that is true or not depends on your tax status. Are you a higher rate taxpayer?
  • planteriaplanteria Forumite
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    i'm not jem, no. i like being able to build up an ISA fund though, that can be accessed if really needed, alongside a pension. also, more scope to increase pension contributions later, whereas your ISA allowance is 'when it's gone it's gone'.
  • jem16jem16 Forumite
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    planteria wrote: »
    i'm not jem, no. i like being able to build up an ISA fund though, that can be accessed if really needed, alongside a pension. also, more scope to increase pension contributions later, whereas your ISA allowance is 'when it's gone it's gone'.

    I agree. You should have enough pension provision to utilise your tax free allowance but after that, for a basic rate taxpayer (in the absence of employer contributions), you should utilise the ISA allowance.

    However in saying that, you have just confirmed that the use of the Investment Bond and TESP in your case has not been good tax planning. You would have been much better off just having the investments unwrapped.

    Hopefully though, it will be a warning to others not to go down the same route.
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