Investments, stocks, shares

[Spiritwalker]

Just sold my Crowdstrike shares, down more than 25% in 2 days and I can’t see

them recovering anytime soon.

[Grebfromgrebland]

3 hours ago, Spiritwalker said:

Just sold my Crowdstrike shares, down more than 25% in 2 days and I can’t see

them recovering anytime soon.

I hope you're joking

[CheeseHead]

4 hours ago, Spiritwalker said:

Just sold my Crowdstrike shares, down more than 25% in 2 days and I can’t see

them recovering anytime soon.

Just bought some Crowdstrike shares at a 25% discount, I can see them recovering sometime soon! 🙂

[Spiritwalker]

11 hours ago, Grebfromgrebland said:

I hope you're joking

 

11 hours ago, CheeseHead said:

Just bought some Crowdstrike shares at a 25% discount, I can see them recovering sometime soon! 🙂

I could be wrong ( I have been before and will be again), I just see lots of legal issues heading their way.

Even with the 25% drop they’re still not cheap so I’ve swapped them for Datadog.

[CheeseHead]

41 minutes ago, Spiritwalker said:

 

I could be wrong ( I have been before and will be again), I just see lots of legal issues heading their way.

Even with the 25% drop they’re still not cheap so I’ve swapped them for Datadog.

There does seem to be a lot of over-priced tech stocks. There was a small correction last week (probably due to comments from Trump and Biden) but they seem to be picking up again. 

[Livid]

8 hours ago, CheeseHead said:

There does seem to be a lot of over-priced tech stocks. There was a small correction last week (probably due to comments from Trump and Biden) but they seem to be picking up again. 

I keep telling myself I’m going to swap out of the tech fund I have in my SIPP, it has done incredibly well but just seems to have levelled out lately it edges up and falls back again. 
 

I’ve got a frozen DB scheme which I’m probably going to use in place of taking an annuity. Two DB pensions, one closed one active, which are in the default funds and now I’m 55 they are starting move into more stable investments.
 

The SIPP was always something I used for more diverse or slightly riskier investments but I’m starting to consider how to invest that as well. 

[Free Falling Foxes]

Enlightment/advice required please.

 

I have a pension SIPP managed by an investment company.

I have been pleased with the returns over the previous 12 months, as it has offered a greater return than anything a Building Society product could have offered.

However, I need to take out a portion of my pot later this year, and If I understood my advisor correctly, if I withdrew £1k, a total of £1200 would be lost - £200 to the taxman.

My understanding is, if my money was in a Building Society, tax is taken on any interest earned, not on the capital.

 

Am I mis-understanding something?

Edited 23 July 2024 by Free Falling Foxes

[Bellend Sebastian]

1 hour ago, Free Falling Foxes said:

Enlightment/advice required please.

 

I have a pension SIPP managed by an investment company.

I have been pleased with the returns over the previous 12 months, as it has offered a greater return than anything a Building Society product could have offered.

However, I need to take out a portion of my pot later this year, and If I understood my advisor correctly, if I withdrew £1k, a total of £1200 would be lost - £200 to the taxman.

My understanding is, if my money was in a Building Society, tax is taken on any interest earned, not on the capital.

 

Am I mis-understanding something?

Have you taken your tax free cash already?

 

If so, anything else you take out will be taxed the same as earned income. Assuming you're a basic rate tax payer, If you wanted  £1000 after tax, you'd need to take out £1250 as you'd lose 20% of that as tax, unless it fell within your personal allowance. 

 

May seem harsh but don't forget you will have had tax relief on your contributions to the scheme, and you get 25% of your fund back tax free

[Otis]

11 hours ago, Free Falling Foxes said:

Enlightment/advice required please.

 

I have a pension SIPP managed by an investment company.

I have been pleased with the returns over the previous 12 months, as it has offered a greater return than anything a Building Society product could have offered.

However, I need to take out a portion of my pot later this year, and If I understood my advisor correctly, if I withdrew £1k, a total of £1200 would be lost - £200 to the taxman.

My understanding is, if my money was in a Building Society, tax is taken on any interest earned, not on the capital.

 

Am I mis-understanding something?

You see the tax benefit when you deposit into the SIPP so you are no worse off.

[Spiritwalker]

15 hours ago, Free Falling Foxes said:

Enlightment/advice required please.

 

I have a pension SIPP managed by an investment company.

I have been pleased with the returns over the previous 12 months, as it has offered a greater return than anything a Building Society product could have offered.

However, I need to take out a portion of my pot later this year, and If I understood my advisor correctly, if I withdrew £1k, a total of £1200 would be lost - £200 to the taxman.

My understanding is, if my money was in a Building Society, tax is taken on any interest earned, not on the capital.

 

Am I mis-understanding something?

£1150  - £150 to the taxman, 25% is tax free.

As has been pointed out by the previous posters you should have received 

tax relief when you invested in the SIPP, so when you invested £1000 it will 

have gone in your account as £1200.

[Tommy G]

Rachel Reeves will be after your pension pot soon enough, give it a couple of weeks and all will become clear, especially if you are a higher rate or additional rate tax payer. 
 

A vote for change indeed. 

[grobyfox1990]

1 hour ago, Tommy G said:

Rachel Reeves will be after your pension pot soon enough, give it a couple of weeks and all will become clear, especially if you are a higher rate or additional rate tax payer. 
 

A vote for change indeed. 

Why? What's the gen

[Free Falling Foxes]

17 hours ago, Bellend Sebastian said:

Have you taken your tax free cash already?

 

If so, anything else you take out will be taxed the same as earned income. Assuming you're a basic rate tax payer, If you wanted  £1000 after tax, you'd need to take out £1250 as you'd lose 20% of that as tax, unless it fell within your personal allowance. 

 

May seem harsh but don't forget you will have had tax relief on your contributions to the scheme, and you get 25% of your fund back tax free

 

7 hours ago, Otis said:

You see the tax benefit when you deposit into the SIPP so you are no worse off.

 

3 hours ago, Spiritwalker said:

£1150  - £150 to the taxman, 25% is tax free.

As has been pointed out by the previous posters you should have received 

tax relief when you invested in the SIPP, so when you invested £1000 it will 

have gone in your account as £1200.

Thanks chaps.

I do 'get' what you're explaining. I guess my view was based on the fact that, historically, any spare cash of mine went into a building society. This was my first (and only?) foray into investments and markets.

To my simple financial mind, it seemed, for example, if you save 10k in a Building Society product that pays shall we say 5% after tax, at the end of the year you'll have £10500. Withdraw 1k and you'll have £9500 remaining.

With this 'investment' (again 5% return) if I withdrew 1k, I would be left with £9290.

Thanks for the examples you gave fellas, it is clearer to me now.

Edited 24 July 2024 by Free Falling Foxes

[Tommy G]

2 hours ago, grobyfox1990 said:

Why? What's the gen

https://www.telegraph.co.uk/business/2024/07/23/rachel-reeves-presented-plan-pension-tax-raid/

[Otis]

54 minutes ago, Free Falling Foxes said:

Thanks chaps.

I do 'get' what you're explaining. I guess my view was based on the fact that, historically, any spare cash of mine went into a building society. This was my first (and only?) foray into investments and markets.

To my simple financial mind, it seemed, for example, if you save 10k in a Building Society product that pays shall we say 5% after tax, at the end of the year you'll have £10500. Withdraw 1k and you'll have £9500 remaining.

With this 'investment' (again 5% return) if I withdrew 1k, I would be left with £9290.

Thanks for the examples you gave fellas, it is clearer to me now.

Not quite, as your 10k with tax relief would be 12k (if you are a standard rate tax payer) which would grow by 5%

Then you pay income tax at on any withdrawals.

[Steve_Guppy_Left_Foot]

Tech stocks really wobbling recently. I’ve just plunged in very heavily (for me) on Intel after they dropped to 20$ a pop, think they’ll struggle to go any (much anyway) lower over the next quarter. My AMD have tanked as well which isn’t great. Global tech fund sitting at £1.62 so still nicely in the green with that one.

[Sol thewall Bamba]

[Tommy G]

Bet theres a few buttocks clenching. 

[Zear0]

4 minutes ago, Tommy G said:

Bet theres a few buttocks clenching. 

Getting more of those targeted adverts? 

[Paninistickers]

On 05/08/2024 at 12:05, Tommy G said:

Bet theres a few buttocks clenching. 

Could've been a worse week for me.

 

Roughly 5% down on my highest peak this year but overall about 3% up from where I was at start of the year. 

[Guest Lako42]

On 05/08/2024 at 12:05, Tommy G said:

Bet theres a few buttocks clenching. 

Was a brilliant buying opportunity 

[Tommy G]

1 hour ago, Lako42 said:

Was a brilliant buying opportunity 

Yes but what goes up must come down (occasionally ) - not completely convinced lumping on what seems like cheap stock this last week or 2 will turn out to be the Crown Jewels, see what the US markets do leading up to the election - suspect the fed will cut rates quicker than then BofE. 

[Tommy G]

2 hours ago, Paninistickers said:

Could've been a worse week for me.

 

Roughly 5% down on my highest peak this year but overall about 3% up from where I was at start of the year. 

Should just about cover inflation then 

[Paninistickers]

4 minutes ago, Tommy G said:

Should just about cover inflation then 

Yup, but hopefully it'll swing back up again at some point. This year's high (around 9% at one point) at least theoretically proves it's doable 

[Tommy G]

1 minute ago, Paninistickers said:

Yup, but hopefully it'll swing back up again at some point. This year's high (around 9% at one point) at least theoretically proves it's doable 

Sure - not sure how aggressive your investments are nor your age but high single digit easily possible