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MarkSp
Posted: 01 March 2025 08:30:27(UTC)
#1

Joined: 02/02/2020(UTC)
Posts: 2,190

Team

After loading up my SIPP and doing a little carry back I have run out of allowances
Our ISAs are full

Where next, I have about 16k in gains that would need to be taxed and my marginal rate is 60%
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Elspeth Beaton
Posted: 01 March 2025 09:52:34(UTC)
#2

Joined: 11/12/2019(UTC)
Posts: 227
Premium Bonds?
xxd09
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MarkSp
Posted: 01 March 2025 10:47:16(UTC)
#3

Joined: 02/02/2020(UTC)
Posts: 2,190
Elspeth Beaton;336141 wrote:
Premium Bonds?
xxd09


I have a 16k gain for the 24/25 tax year. on CFD profits plus whatever I can close my Friday trade on the Dow for so I need somewhere to put money that takes it out the gain for this year

I shouldn't be using CFDs but, that is where I had the margin available so had to do it. My fault. i bought at 43200 and it dropped straight through it, kept going then reversed. i wasn't too fussed about the loss as I am playing with Reeves money - the reverse was another 600 points so, the problem is getting worse. A nice problem but I really don't want to pay tax at a marginal rate of 60%
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Sara G
Posted: 01 March 2025 10:50:04(UTC)
#4

Joined: 07/05/2015(UTC)
Posts: 4,042
Don't realise gains if possible, would be my advice. By holding on to the gains you risk capital loss if markets fall, but I would take that bet against the certainty of taxation. If you have cash to spare then low coupon Gilts might help kick the can down the road. Or if you want more risk / upside potential, silver bullion coins* are CGT exempt I think, and may look like better value than gold right now.

*those that are legal tender.
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Busy doing nothing
Posted: 01 March 2025 11:02:37(UTC)
#5

Joined: 01/03/2021(UTC)
Posts: 374
Sara G - VAT is payable on silver bullion including coins, all needs factoring in.
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Sara G
Posted: 01 March 2025 11:15:33(UTC)
#6

Joined: 07/05/2015(UTC)
Posts: 4,042
Busy doing nothing;336150 wrote:
Sara G - VAT is payable on silver bullion including coins, all needs factoring in.


True - though at 20%.

But perhaps Gold is preferable even though the price has risen significantly of late. I bought some Britannias last year for tax reasons and thought I'd bought at the top. It may well have further to run.
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markus
Posted: 01 March 2025 11:57:23(UTC)
#7

Joined: 02/11/2015(UTC)
Posts: 222

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VCT... appreciate they can't be used to offset gains nowadays but you could half the tax...pay 60% reclaim 30%...or something like that
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Jay P on 01/03/2025(UTC)
SSJ
Posted: 01 March 2025 14:41:23(UTC)
#8

Joined: 13/09/2010(UTC)
Posts: 512

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EIS schemes/funds will let you defer the capital gains. And they'll give you a income tax refund upfront (30% of the investment). In the situation you've described, you would need to find one allotting in this tax year. You also get IHT relief, though I suspect your executors won't thank you for having to unravel it.
SEIS schemes are more generous/risky.
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MarkSp on 02/03/2025(UTC)
markus
Posted: 02 March 2025 09:43:49(UTC)
#9

Joined: 02/11/2015(UTC)
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Was thanked: 278 time(s) in 138 post(s)
Not really sheltering but you could begrudge Ms Thieves of a payout with a charitable donation
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MarkSp on 02/03/2025(UTC)
Stephen B.
Posted: 03 March 2025 14:49:39(UTC)
#10

Joined: 26/09/2012(UTC)
Posts: 794
I'd agree on looking at VCT/EIS/SEIS - big tax relief, very high maximum investments, often high tax-free income and potentially large gains vs potentially large losses, high charges and a long lockin period.
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