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The LTA only comes into consideration why you do a benefit cystalisation event. https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm088100
The most common is when you tale tax free cash. So for example and to use easy figures. If the LTA was £1m (it's just over) and you cystallised £100k producing £25k tax-free cash, you've used 10% of your LTA and have 90% or £900k left. If the LTA went to £2m, you'd have 90% or £1.8m LTA left to take. There is also another LTA test at 75 currently.
However, as a financial adviser, I've seen the LTA come down from £1.8m to just over £1m since 2006. A Mil isn't what it used to be and I don't think it'll be long before they increase it again (especially a conservative chancellor). My advice if you find yourself in the situation of having a LTA issue is don't crystalise more than you need to and then if the LTA rises you'll have a larger amount left to take.
I use HL for one of my sipps, easy to use and should be all the advice you need. Easy trades and tax gets paid in after adding money.
Iam no expert by a long way, just like the 20-40% discount free money Govt gives you on buying depending on your tax rate. Govt dont give us much but pensions they do.
Before any pension with SEE stock up your ISA/Your kids or wives ISA, easy access, tax free.
So many factors, age, income, employed/self employed/married etc. Always best to speak to local advisor or your accountant as all of us different.
My own circumstances Iam 55yrs in 2 years time, so the SEE popping by then has always been my goal. 1st thing out is my 25% tax free to spunk it lol
So much advice online if just want a rough idea.
All my estimates are based on SEE 50p-£1 in 2/3 yrs time then buying historic best funds, maybe 20 and living it up on the 20-30% income
Depends on when the fund is crystallised ie you draw on it or die, but in essence any holdings over the Lifetime Allowamce will be taxed at your marginal rate when you draw them, not allowing for your Tac Free Cash allowance. Hiw much toubhave paid in is irrelevant. It is the fund value that counts! Investing through a SIPP can be very tax advantageous but huge growth on funds may cause tax issues too! Still, I would rather have 55% of something than nothing!
My understanding of the pension lifetime allowance is that any amount above the lifetime allowance (currently £1.055m and raises with inflation each year) is taxed at 55% , again my understanding is you trigger the tax liability by taking out the cash and you have to be at SIPP pension age (currently 55 rising to 57)
However its what I describe as a first world problem, the more tax you pay the more successful your investment has been
Example 1: £1m SIPP pop and at SIPP pension age
£250k Tax Free lump
£750k remaining to take as income if you choose
Example 2: £2m pot, at pension tax age
Assume LTA is £1m for ease
Tax paid £1m *.55 = £550k
Tax free 25% of £1m = £250k
Remaining to take as income as you choose £750k
Extra cash net of the tax paid (£1m-550k) = £450k
so if you have a £2m pot rather than the LTA of £1m you are £450k better off after tax, its a good problem to have
Pretty sure the 1M limit is the amount you can pay into it. If it gains value through dividends etc, that's fine.
... and thank you. Others feel free to chip in if you know the answer.
Hi Terry, I’ve been looking up at SIPP really closely and I’m aware of your advice from before.
What will happen if one exceeds the total limit (just over £1M) as a result of your holdings multi-bag?
Will the extra money be disbursed to your bank and be taxable at that point? Considering share prices go up and down — is there a time factor in that (eg it can stay in SIPP holdings for 2 weeks or months etc)?
Are you familiar with SSAS — for stocks investing purposes?
Sorry too many questions.
Some good points in your threads.
Walk the walk not talk the talk or Paul Mc bull**** will be a new tag. Markets dont like waffle, they like action & results.
On saying that, iam sure we will have some positive news this/next week & trading update aswell. Lombard buying another £1.15 million will be for a good reason.
I totally agree about top ups, done loads from 3p-5.2p & anything under 5p has to be a bargain. Especially if in a SIPP.
Couldn't agree more MrBB.
However my concern is with PMc building up everyone's hopes in Japan, only for Japan to turn out as another Aviation (#PMcIminent.)
Yes I appreciate that auto and aviation are chalk and cheese in terms of contracts and that NCAP is something that OEMs are trying to catch-up on whilst aviation is an element that can in theory have a lot longer timeline to agree, but I'm just a tad concerned that PMc is using flowery language again to talk-up SEE which in turn falls flat on its face again.
The trading update should it come, couldn't come soon enough for me, and I bet a few others here too.
Well said Mr BB, I am also getting ready to buy more shares the falling share price dose not bother me, seeing machine company fundamentals are strong and the future is set in stone so it's another chance to top up
Bickering is not constructive & we are all entitled to our opinions,even if they do change & are not always consistent ( the privilege & probably weakness in being a PI).DMS is clearly The Future & there are several companies trying to win market share but most of us here firmly believe that we have a substantial early move advantage & what The Market is waiting for is more tangible proof of our achieving our ambitions as a company , together with seeing our new CEO & senior management team delivering on expectations & targets .My view is that we are very close & PMs comment about Japan in his latest interview is hugely encouraging.I have a large holding ( accumulated over the years) with an average of about 4p & should our SP continue to drift ahead of the expected tangible news, I too will be "forced" to buy even more shares as I am in the camp that does believe we will achieve great success & there remains scope for a series of transformation announcements over the coming weeks/months.
Keep your collective peckers up !
Does anyone have any info update on how the National Express win/installation, has it been carried out yet,
Perhaps the question should be at what speed does it work, not mph here, and what it misses due to this?
I hardly think this is something to shout about.
OK Kim Jong-Un. Typical manipulative behavior. Trying to justify one's behavior by bringing up someone's past to look better. I had not done enough research? The only thing I was right about was that the management was useless with the share price plummeting from 14p to 3p. You can filter me just as you have done with 50% of this bulletin board.
ET, I am always wary of posters who change their mind on a constant basis, the good thing about a BB is you can't rewrite history no matter how hard you try. I don't post on the SEYE BB as I am invested in SM not SEYE.
You might or might not remember your post below from March 2019 (way back ages ago )
"Total hype train for this stock.. The management is useless and all I heard was how SEYE eye tracking was useless and how SEE was superior. This is what happens when you buy stocks with low management ownership. They don’t give a damn about the shareholders. Buy SEYE much better choice 30% management ownership. They would never pull anything like this off. This needs to be investigated. Insiderinformation has leaked out. Safestock and semicast were so sure. I hope they are ready when SEYE takes 50-60% of the DMS market."
300p price target is the only thing that is acceptable here other than that you must be silenced.
On a bulletin board it is allowed to discuss everything surrounding the stock that includes competitors, financials, risks etc. I was sarcastic with the word "finally". It means it's good news for us as it proves yet again that SEE is way ahead of competitors.
2020 thinks he's the only person on this forum. Moron.
Argue with any one who doesnt have the same opinion.
S2020. I don't have a problem with posts concerning these comments on our competitors as it can keep our feet firmly on the ground, and if we do lose an RFQ to a competitor then we can at least judge it on a more knowledgeable footing as to potential reasons why.
ET, not sure what your point is, does this mean they are at the level SM were in 2014?, in the same article they mention the BMW models with their tech, but if their tech is so high performing why did BMW move to SM?
I believe a bulletin board exists for SEYE investors
Seems like they solved it recently.
Over the years, one of the biggest challenges Smart Eye had to overcome was correctly recognizing the different size, shape, and movement of people’s facial features. But now, not only is their algorithm fully capable of recognizing these differences, it can also function flawlessly even when the driver is wearing a surgical mask or sunglasses.
“This was an important improvement for us. Because in Japan, many people wear surgical masks. And in Europe and the US, many people wear sunglasses”
commented Ms. Ogawara.