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£1500 for the forum old farts (that's you, xoggy!)

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    £1500 for the forum old farts (that's you, xoggy!)

    Probably already common knowledge, but stumbled across this today

    Paul Lewis Money: TAKING MONEY FROM THE TREASURY

    Fill yer boots!

    (Don't forget my 20% cut.)

    #2
    I came across this kind of scheme in the early 90s when my insurance broker wanted me to run a few figures through a spreadsheet (this before most folks even knew what a spreadsheet was).

    His scheme was a longer term thing aimed at folks due to retire in a few years and then through their retirement. The 25% tax free element on withdrawals yielded income (and money to reinvest if you wanted), and you avoided the tax on the remaining 75% by reinvesting that.

    The scheme did work in theory but I couldn't help thinking that the insurance chap was going to make even more brass out of flogging those reinvestment policies down the line.
    Behold the warranty -- the bold print giveth and the fine print taketh away.

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      #3
      Hey! A bit of legal tax fraud. Ta MS!
      bloggoth

      If everything isn't black and white, I say, 'Why the hell not?'
      John Wayne (My guru, not to be confused with my beloved prophet Jeremy Clarkson)

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        #4
        WXOGS.

        Comment


          #5
          Sounds fine in principle, but the restrospective legislation angle worries me
          (\__/)
          (>'.'<)
          ("")("") Born to Drink. Forced to Work

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