Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Sorry Matt not CGT but IHT. I've just been through it all and set up a family trust which costs about £2500 inc will and 2 powers of attorney, one for health and one for wealth. Definitely worth doing as it passes straight to your kids, but you still have full powers over the trust.
Hawkspear thanks for this comment. It doesn't always reduce taxation though as there is CGT and income tax to pay in the trust which can be considerable - everybody's circumstances are different so it needs specialist advice.
Sorry Jet
imho, gla,Matt
The Life Time Allowance is big problem in a SIPP. I'm not there yet as most of mine are in an ISA, but I'm watching it carefully.
Matt James, there is another way to avoid the tax without spending it all before you die, create a family trust,it not only protects your investments from tax it also stops you having to pay for care if you have to go into a care home. The other benefit a sipp provides is the government gives you 30% towards your pension. One other thing a family trust does is your family inherits all of your assets and no CGT to pay. Win Win.
Hi Jet. No more from me either. ATB Speedy
I don't mind - I just thought it was funny, wrong thread an' all. Elise must feel jilted, you lot switching threads half way, ROFL. I'm sitting here emailing a private pension company as we speak, cashing in. I know a better home for my dosh. Now I wonder where that is. :)
ATB
Hi Jet. It is just a thread to find out the most tax efficient way to play this game. ATB Speedy
Say no more JET - that's the last you'll of pensions from me, still got a few more years before I can access mine anyway.
ATB - Paddy
Speedy,
Doing it as we speak...
Er Speedy and Paddy and others, you're in the wrong thread? Did you mean to post in the Pensions thread? LOL.
Hi Enrico. Plough the spare spondoolicks into here at every opportunity and you will have all those enjoyable problems in time. ATB Speedy
I love this discussion: "same problem here", "I'm in the same boat", etc. A fantastic problem to have indeed, ladies and gentlemen. I hope I'll have it in a few years' time too!
Im on the same boat Paddy and should really look into what it will mean when i can finally draw on the SIPP..wasnt a problem until recently!.wondering if theres a way to increase the allowance
Same problem Paddy but at least you can be a bit more cavalier in the SIPP if you are going to only lose 45% of the investment!
Also remember chaps that, generally, the SIPP does not get taken into account for IHT purposes but your ISA will if your estate is over your IHT limit - so potential of 40% IHT . So make sure you spend it all!!!!
imho, gla, Matt
Remember SIPP not part of your estate and you can pass contents on to loved ones without IHT. Useful to balance short, medium and long term cashflow and savings.
Agreed Speedie and I've got a decent amount in my ISA also, the SIPP was a very tax efficient way of me taking profits out of the company at the end of the year, then GGP came along and 1200% later I'm smashing the LTA.
I might write to GH to complain :-)))) Still got 3 years before I can get my lump sum out and crystallise the fund - God knows where it will be by then - nice problem to have, Paddy
Hi Paddy. You say "Hav on its own will be a game changer" for most here it already has been. Love this share and its future possibilities. Glad all mine are tucked up in an ISA as opposed to a SIPP. ATB Speedy
TimberTrader is of course absolutely spot on - we are all excited about Scallywag (me included) but everything we have up to now from Hannam has been based on Havieron (with a token amount added in for the other Paterson tenements) purely.
And we know that Havieron continues to grow at depth and width and not only that the continuity and grades seem to be increasing with every set of results that come in. Not putting a damper on it because I believe that GH & CB would not be wasting money at this particular time without good reason but Havieron on it's own will be a game changer for us all IMO.
ATB - Paddy
Goliath I think will be a game changer even if we hit at some of the other tenements. Just saying. GL
Havieron is massive, and the massiveness is yet to be proved, but, IMHO, it's significantly better than we even have factual drill results for, to date.
The other GGP tenements, including, of course, Scally, are yet to be proved, so, IMHO, why get ahead of ourselves?
Personal view, as always, but I'm not doubting anything, just being realistic to date.
On 10 Sep I posted 'Providing the licences could be approved, with such a mineral asset-dense area, would it not be cheaper to open cast mine?'
But, having read more about Fimiston, I believe it is doubtful whether the Aus Government would allow another open-cast super mine, taking climate change, possible surface exposure of hazardous minerals and environmental factors into account.
agreed all us genuine investors dont get involved in the infantile banter
we just hold and make money
@Hydrogen.
Whilst Paddy could sniff out a truffle a foot underground in a remote French forest....if he wanted to, also much appreciate your Geological and technical/mining cost info.
The great Info from you both has ensured I havn't even raised an eyebrow to these dips in SP.
There is no doubt where this is going.
The next 3 months are going to be a wild ride, maybe even starting tomorrow or next week.
Cheers for your time and effort.
Reddirt
Valley Commando here!, thrown off the board in April for suggesting C19 was planned, exaggerated to ruin the economy so they can implement their police state and New World Order..;) (Dont worry, having won that argument i wont be going on about that again..;)
I cant believe no one has directly asked you!! You, PG and Hydro are the only bits of sense on the board...
Have you had info regarding the cores at Scally????? You have been 100% spot on since youre first comments and id be realllllly interested to know any hints youve had from your connections.
I know you mentioned the porn core just before we had the Hav initial results, can we assume that Scally had hit the good stuff too?
VC
Hi Hydro,
Couldnt have said it better. I used to look after dd rigs , rc , rab etc not that long ago, and I agree with your comments 100%.
Very exciting times. GLA LTH
Reddirt.