• The first stage of the forum upgrades has now been completed but they remain in a degraded state and are still being worked on.
    Please read this thread for more details.
    New user registrations are currently disabled.

Stocks n Shares ISA


archiesdad said:
Read yesterday that since ISAs were introduced in 1999 you would have payed in 330k if you'd maxed out every year. There are currently over 10000 isa uk millionaires, it’s made more millionaires than the national lottery which started 4 years earlier.
Click to expand...

Wonder if one person has spent £330k on the lottery though ?
 
archiesdad said:
Read yesterday that since ISAs were introduced in 1999 you would of payed in 330k if you'd maxed out every year. There are currently over 10000 isa uk millionaires, its made more millionaires than the national lottery which started 4 years earlier.
Click to expand...
Apparently it's incredibly generous compared to the US/Canada etc.
 
archiesdad said:
Read yesterday that since ISAs were introduced in 1999 you would of payed in 330k if you'd maxed out every year. There are currently over 10000 isa uk millionaires, its made more millionaires than the national lottery which started 4 years earlier.
Click to expand...

Sshh... don't tell the Chancellor otherwise she will find a way of taxing or capping ISA holdings.
 
DrNo! said:
The money you pay into your pension via salary sacrifice reduces your salary so you pay less tax and national insurance. Unless you are applying for a mortgage it's a no brainer.
Click to expand...
So if someone is near the top end of the child benefit bracket and a pay rise takes them over it, it’s a good idea to put the extra into a pension to keep them below? I get that bit. Does that then essentially mean you sacrifice pay rises going forward in favour of higher pension contributions?
 
DufraisFTM said:
So if someone is near the top end of the child benefit bracket and a pay rise takes them over it, it’s a good idea to put the extra into a pension to keep them below? I get that bit. Does that then essentially mean you sacrifice pay rises going forward in favour of higher pension contributions?
Click to expand...
You'll still get payrises. Your payrise will impact your pension contributions and your pay. It's up to you to ensure you stay below the tax bands and adjust pension contributions appropriatley
 
Last edited:
Probably not the place for this but don't want to start another thread -

Be aware that you cannot transfer the marriage tax allowance within a current tax year (as we've found out to our cost!).
 
DrNo! said:
You'll still get payrises. Your payrise will impact your pension contributions and your pay. It's up to you to ensure you stay below the tax bands and adjust pension contributions appropriatley
Click to expand...
I just won’t see the pay rise in my pocket now though? Is that the question? Do you want cash in your pocket now or higher longer term value (keeping all child benefit, more tax efficient)?
 
DufraisFTM said:
I just won’t see the pay rise in my pocket now though? Is that the question? Do you want cash in your pocket now or higher longer term value (keeping all child benefit, more tax efficient)?
Click to expand...
Up to you mate. Not sure how anyone hitting that tax band can't work it out for themselves. It ain't rocket science.
 
You must log in or register to reply here.
Back
Top