revtothelimit - motorbike forum

gremlin wrote: Tue Nov 04, 2025 1:56 pm Obvious target is reducing the 25% tax-free lump you can pull out.

If she does that and people take out a smaller lump sum to avoid paying tax on it, what does the Exchequer gain?

I suppose they gain more income tax from taxing the bigger annuities and drawdowns from the bigger remaining pots. Hope Rachel has worked all this out.

gremlin wrote: Tue Nov 04, 2025 1:18 pm there's talk of the AI frenzy fueling stocks like Nvidia, etc. That said, 'they' have been saying that since last year. I personally don't think there will be a huge fall, but I do plan on moving my holiday saving pot (all £1,578 of it) into safer pots soon, if only to realise the gains and bask in my financial wizardry.

We may think the market is irrationally high. Keynes said markets can remain irrational longer than you can remain solvent.

JackyJoll wrote: Tue Nov 04, 2025 4:28 pm

gremlin wrote: Tue Nov 04, 2025 1:56 pm Obvious target is reducing the 25% tax-free lump you can pull out.

If she does that and people take out a smaller lump sum to avoid paying tax on it, what does the Exchequer gain?

I suppose they gain more income tax from taxing the bigger annuities and drawdowns from the bigger remaining pots. Hope Rachel has worked all this out.

I suppose it also depends on what people do with the money they take out. If they stick it straight into cash ISAs she won't make much in the short term. (So, expect the £20k pa per person allowance for cash ISAs to get cut too?).

If they spend it on home improvements, new cars, booze etc there'll be quite a bit heading back to the Treasury.

I changed my risk level to growth a couple of years back, took about 24 hours. It's still there.

I also looked at the performance history of each risk level, about 8 levels going back 10 years and the higher risk definitely came out better over time. On a downturn, they didn't lose much more than a cautious safer portfolio, but on upturn made a lot more.

gremlin wrote: Tue Nov 04, 2025 1:56 pm

Mussels wrote: Tue Nov 04, 2025 1:42 pm
I vaguely understand this stuff so please correct me if I'm talking rubbish.

I do think Rachel is gonna raid the pension pots a bit later this month. Obvious target is reducing the 25% tax-free lump you can pull out.

I'm drawing this every year up to 30k to bung into ISAs and Euro trackdays

Any changes will hit a lot of older folk VERY hard.

Question. How soon after a budget do tax law changes take effect?

Want to plan ahead.

I suspect next tax year, i.e. 1 April, but don’t quote me.

Yorick wrote: Tue Nov 04, 2025 1:10 pm

gremlin wrote: Tue Nov 04, 2025 1:07 pm

weeksy wrote: Tue Nov 04, 2025 12:38 pm

Mine was done by the provider when i reached i think 50 years ... But other than that i've not touched it. Your logic doesn't sound terrible to me as long as there's not a penalty for swapping it over.

Two points:

In the short term the market gurus are saying a 'correction' is on the cards,

Any idea of when?

Sooner ? Or later?

March 2026.

Not quite pension but what's the best tax free savings account available atm. ISAs etc. Don't really want a fixed term but don't mind limited withdrawals just incase.

My Halifax has dropped to 2.5%. Thinking of chucking some more in but maybe not Halifax. ??

Dodgy69 wrote: Wed Nov 12, 2025 3:07 pm Not quite pension but what's the best tax free savings account available atm. ISAs etc. Don't really want a fixed term but don't mind limited withdrawals just incase.

My Halifax has dropped to 2.5%. Thinking of chucking some more in but maybe not Halifax. ??

Dunno about the other banks but I assume they're all much of a muchness. Nationwide Cash ISAs are 1 year (no withdrawals) 4.0%, 1 year, (up to 3 withdrawals) 3.5%.

(Longer term ones are lower interest so it looks like they expect interest rates to drop).

Someone mentioned a National Savings thing recently that was 4.0+% but I assume it's not tax free?

Dodgy69 wrote: Wed Nov 12, 2025 3:07 pm Not quite pension but what's the best tax free savings account available atm. ISAs etc. Don't really want a fixed term but don't mind limited withdrawals just incase.

My Halifax has dropped to 2.5%. Thinking of chucking some more in but maybe not Halifax. ??

https://moneyfactscompare.co.uk/isa/5-y ... rate-isas/

Yorick wrote: Wed Nov 12, 2025 3:19 pm

Dodgy69 wrote: Wed Nov 12, 2025 3:07 pm Not quite pension but what's the best tax free savings account available atm. ISAs etc. Don't really want a fixed term but don't mind limited withdrawals just incase.

My Halifax has dropped to 2.5%. Thinking of chucking some more in but maybe not Halifax. ??

https://moneyfactscompare.co.uk/isa/5-y ... rate-isas/

I'll do some browsing.

I always check 'money saving expert' for the latest best buy ISAs, credit cards, etc:
https://www.moneysavingexpert.com/savin ... -cash-isa/

Dodgy69 wrote: Wed Nov 12, 2025 3:07 pm Not quite pension but what's the best tax free savings account available atm. ISAs etc. Don't really want a fixed term but don't mind limited withdrawals just incase.

My Halifax has dropped to 2.5%. Thinking of chucking some more in but maybe not Halifax. ??

Have a look at Revolut.
I got an account before I went on my travels, initially for the ease of exchanging currency, but know use it as my main banking pot.
The savings account is 3.85 atm. Money can be switched in and out of that as you will.

Nobby wrote: Wed Nov 12, 2025 7:59 pm

Dodgy69 wrote: Wed Nov 12, 2025 3:07 pm Not quite pension but what's the best tax free savings account available atm. ISAs etc. Don't really want a fixed term but don't mind limited withdrawals just incase.

My Halifax has dropped to 2.5%. Thinking of chucking some more in but maybe not Halifax. ??

Have a look at Revolut.
I got an account before I went on my travels, initially for the ease of exchanging currency, but know use it as my main banking pot.
The savings account is 3.85 atm. Money can be switched in and out of that as you will.

Is that 3.85% tax free?

The only offering of tax free savings is via govt backed saving.

Obviously not withstanding your personal circumstances.

Count Steer wrote: Wed Nov 12, 2025 8:10 pm

Nobby wrote: Wed Nov 12, 2025 7:59 pm

Dodgy69 wrote: Wed Nov 12, 2025 3:07 pm Not quite pension but what's the best tax free savings account available atm. ISAs etc. Don't really want a fixed term but don't mind limited withdrawals just incase.

My Halifax has dropped to 2.5%. Thinking of chucking some more in but maybe not Halifax. ??

Have a look at Revolut.
I got an account before I went on my travels, initially for the ease of exchanging currency, but know use it as my main banking pot.
The savings account is 3.85 atm. Money can be switched in and out of that as you will.

Is that 3.85% tax free?

Sorry, it's 3.51. AER.
Tax free ?, I doubt it.

NS&I do a thing called a Guaranteed Growth Bond at 4.2%

https://www.nsandi.com/guaranteed-returns

MyLittleStudPony wrote: Wed Nov 05, 2025 11:18 pm

Yorick wrote: Tue Nov 04, 2025 1:10 pm

gremlin wrote: Tue Nov 04, 2025 1:07 pm

Two points:

In the short term the market gurus are saying a 'correction' is on the cards,

Any idea of when?

Sooner ? Or later?

March 2026.

21st.

Cash ISA | Compare Our Latest Cash ISA Rates | HL https://share.google/HHqghXn65pbU8AK1m

There's a couple of things that haven't been mentioned so far...

You need to factor in any inheritance. Not a nice thing to think about, but could change your financial situation a lot

Also equity release. We're doing well as we are now, but in 5 years, we'll be able to grab 70% of the villa value and live here forever, rent free.

That's a huge amount. But we have no kids to leave it to. Just the nephews and nieces who will still do nicely as we'll never be able to spend it all