Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I dont understand how people can invest tens, if not hundreds of thousands of pounds with what sounds like literally zero knowledge on what they're doing with it - disaster stories in the making if true imo. I've been in the game for 5 years now and still learn every week, but come on, not having money in an ISA is bizarre, I turned 30k into 150k in an ISA (and then lost 50k of it in a day thank you NUOG for that raising at 70% discount back in 2018 LOL) but I would sooner have my money on a spread betting platform and use pretty much no leverage if I didnt want to risk going into the negative bank balance territory, spread betting is gambling and as such pay zero tax on any profits. far better than investing in shares if you are not going to have an exposure higher than your account funds so you can keep hold of a loss indefinitely if you're going to hold long anyway, correct me if I'm wrong anyone but that makes far more sense than paying 40% or whatever CTG is over 12k come on!
And don't forget this one for the sweet sweet 25% government match. You can have this with a S&S ISA.
https://debitoor.com/dictionary/lifetime-individual-savings-account#:~:text=A%20Lifetime%20Individual%20Savings%20Account%20(LISA)%20is%20a%20new%20type,reach%20the%20age%20of%2050.
Thank you all for your advice. I will do some investigating
Mtel...............a bit late now........You can invest £20,000 of you money now................but unfortunately any profit you have made so far you have to pay the Gov Capital Gains tax if you sell up..................the best thing to do is us to try and minimise your gains by using your allowance before April 5th................ Then again April 6th..............and if you are happy leaving it then keep invested and transfer £20,000 into you isa for this year and £20,000 for next year
Bedtime reading...
https://www.moneyadviceservice.org.uk/en/articles/stocks-and-shares-isas
https://www.gov.uk/individual-savings-accounts
"Steve and Kitty are your captains for tomorrow’s lift off"
As long as the ship isn't called the titanic....
Glad I mentioned this to Mtel now! lol feel free to compensate me for my (usually terrible) advice haha and I know you’re loaded as well with those 54,000 shares ;-)
Yes, Mtel....
Listen to the people. Very easy to do.
You like FREE MONEY don't you?
Mtel..............It is a gift from the Government........intended to encourage saving. You can invest up to £20,000 per annum . The idea being.......everything you put in the ISA can be used for investing in virtually any form......and any gains you make are totally tax free. Capital Gains Tax is not a consideration!! If you invest outside of an ISA you pay tax on any gains over (I think) £12,200.................once you take it out though......you are back to normal......so the idea is you build up the ISA over years and leave it in....even if it just cash...............so you can further invest later
It’s a bit late to sell and buy in again now as it might be moving all over the show tomorrow and could cost you but in future you can do it and a lot people also open one in their spose’s names and some even their childrens
It is correct.
If you are still under 40s do a LISA and an ISA. Government will literally match part of your deposits.
Be tax efficent and put whatever you can into LISA, ISA and SIPP. You are literally giving money away by not doing this.
I suggest you read up. Basically you can deposit 20k per account each tax year and withdraw any amount including from any profit made, over the year, tax free.
yes if your 20k turns to 60k it is all tax free i believe and you can withdraw it all whenever you wish.
Ok, I can put 20k in an ISA and the profits are tax free, is that correct?
Mtel you can put £20k in a year and any gains are totally tax free. You could get to £1,000,000 and it will be tax free. There are actually around 300 investors who have actually done that in the UK as far as I know. Remember you can only deposit £20k per year though. Outside an ISA you’re allowed to make profits of up to £12,300 without paying tax as far as I know, anything over that you’ll need to declare it which is why holding and not making too much profit from selling might (and I’m definitely not an expert so dont follow my advice, I’m actually a noob) *might* be the best course of action. You maybalso be inclined to take some profits though as you’re up around £80k at the moment aren’t you? Maybe someone else can chime in with a more experienced opinion?
I don’t really know much about ISAs I’m just a medical secretary - any advice gratefully received
And of course an ISA account 40k under the wife’s name.
I don’t have an isa either I p*ssed around with one on free trade and ended up closing it down only to find trading 212 is far superior but obviously u can only open one a year. I don’t have 54,000 shares though lol #baller
Jesus that’s some nice gains though. If you plan on holding longterm might be. An idea to sell off after Christmas and load up £20k in an ISA either side of April so you could in theory have £40k in there tax free?
Oh dear - no CG TAX on a share dealing ISA!
Mtel!!!
No! I don’t have one.
Is that in your ISA Mtel?
Well I did initially buy for the long term, didn’t expect to have made this much in such a short time. Will see what tomorrow brings!
Yeah you've got balls hahahahah
Seriously, hope it makes you richer tomorrow.