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Attn Bully1985
Regarding query date 10th August.
Thats me just got a reply from Interactive Investor.
Thank you for your secure message and I
apologise for the delayed response.
I have confirmed this with the specialist
that no more LTA tax is due if you take any income. You have already paid LTA
tax charge (55%) on the excess so wouldn’t have to pay any more. I
apologise for the incorrect information given to you.
Please note that until we have your correct tax code you may be emergency
taxed on the income that your receive initially. If this remains below your
personal allowance and we have the correct tax code this should then be
adjusted accordingly.
We trust that we have answered your
questions, however please do let us know if we can do anything else for you.
You can continue to write to us by secure message. Our response time is usually
within a few days, however, in times of high volume, we can take up to 5 days.
Sorry for off topic lads.
GLA
Sorry about that, having to use a vpnvand it keeps dropping out.
More they consume the better. Demand is less at the moment and gas is still being supplied as per existing suppliers.
Petrochemical activity is less therefore need for gas must drop. How much gas will they use from txp.
Would be good to hear what PB has to say about it..
We know NGC want the gas, is there are forecast as to how much of txp gas they will actually sell on to the consumers in the foreseeable future.
GLA
Q&A
I have searching for information on the Ammonia/Methonal plants closures in TT(8 at the moment possibly more closures expected). The prices and demand for these commodities have fallen to such an extent it's not economically viable to keep producing..
The main client the USA now produce their own..They are looking at diversifying to Europe and Asia..The Ukraine are already supplying in these areas and expanding..The Ukraine can produce at a lower cost as gas cheaper..
The information I have sourced(Not all of the information depends what you read) this wall of cash maybe take a bit longer than people are expecting..
Just my take on it..
Glad to hear differently..
There are various views on the current situation depends what you read..
As the elections were due some of the statements I read had a political agenda behind them for sure.
GLA
Bully.
It's with Interactive Investor..I sent them a query about it..they have an internal message system set up. They do have a flexi-access drawdown facility..Otherwise I would not have used them. Once you trigger that you get charged £10/month..Will let you know what they say..
Thanks again.
ATB
hi Bully, appreciated
last year i paid 55% tax on the cash lump sum that exceeded the LTA which i understand. also took the 25% tax free lump sum.
I was going start the flexible drawdown and take £12000 for the year, thinking tax free allowance approx. Also had a modest cash dividend of £500 from a stock. No other source of income.
The sipp provider said if i did this then i would have to also pay 55% tax on the £12000 and all the monies apart from tax free lump sum of 25%.
i thought the LTA, Tax allowance and divi all had their tax calculation and were separate from each other when working out tax to pay.
i never started the flexible drawdown as i did not want pay 55% on this small amount as the whole point was pay as little tax as possible.
thanks bully
snap bully.
sorry board as off topic.
i only know this as i transferred my DB pension in january and exceeded the 2019/20 lta.
Bully got a query about tax to pay on flexible withdrawings, if you could help. thanks
Dunderhead.
think your talking about the LTA[lifetime allowance] which this year is about £1073100. if you withdraw money which exceeds that limit its taxed at 55%..
GLA
Thanks Tobin,
With the knowledge gained and expertise 3D seismic would help bolster their chances of success..
Once Royston drilled this will be priority I expect..
GLA
Dana
Cheers for the heads up..
Not to many, was a struggle to get them.
Gla
Right Spawny,
I am aware it is a separate deal for gas and pipeline..
Just thought if first gas is to come online in October they need to be getting a move on..
GLA
Feel this approval for the pipeline is dragging on.. I would not be surprised if the timeline for Coho to come online is delayed a month..
Surely they will tell us when approval has been granted.
GLA
Yeah, agree, somebody is accumulating.
Not me selling this time..
GLA
Thought I would just let you guys know it was not North or that David fellow selling..
I still believe TXP will multiply, I have built up a considerable stake here and after selling yesterday still have..
No plans to sell more at present as exciting times here..
I agree companies getting hammered at the moment and further falls inevitable..Possible bargains to be had..Some of the guys have researched other shares and passed on their views which gets my attention.
I would also like to say all the board members inputs have been invaluable and much appreciated..
ATB
Fyi,
I also took a substantial amount out yesterday(470448 shares to be exact).
I still have plenty remaining in TXP..
Just informing the board incase members a barking up the wrong tree.
GLA
Sorry 12th July.. i think..lol
Gla
Got this post from Davidblack on the 20th july, I had a query regarding North declaring their holding...
If they have an ongoing sell order they can sell without notifying.
Also if they are separately running a short position that often is not disclosed.
And lastly not everyone discloses properly!
So it’s often a mystery until they issue the RNS. Hopefully the next one says they are under 3%?
Thanx Gilbert,
Specialised field and forever changing that's why financial advisors/ planning are in a job baboon..
Gla
FAO Dana, or anybody else with knowledge of aim rules regarding IHT or CGT or any tax..
Saw the discussion on the advfn board about this topic. Am I right in thinking if aim stock TXP held for over 2 years, because it is dual listed we are not exempt from IHT..
Thanks in advance..
Gla
Thanks Dana,
Will have a wee squint over the link.