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A while ago the goverment was trailing proposals for a 60% rate super tax on pension pots over £1millon, then it all went quiet.

I'm just a little suspicous that this whole SIPPS 'bonanza' isn't just a way of persuading the mass middle class wealthy to put all of their savings/assets into a pension that then puts the money under goverment control......which can then be hit with a massive tax in a decade or so.

.....once that money is in your SIPP it's Gordon who decides when you next see it and how much it will ultimatlely be taxed by.

I'm just very very suspicious when this party comes to the public and offers a sector of population who are not it's core voters a tax break that looks far to generous to be true. <_<

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"Mr Huhne is right when he talks about investors needing a sizeable pension pot already: you can only borrow up to a maximum of half the value of your fund. So if this is only £50,000, you will be hard-pushed to find anything to buy for £25,000."

Shouldn't that be £75,000 not £25,000 ?

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"Two things. First, you need to be a higher-rate taxpayer in order to claim 40 per cent tax relief. And secondly, you only get as much tax relief as the size of your tax bill (limited to £215,000 a year). So unless you are expecting a £40,000 tax bill next year (in which case I don’t know whether to be sympathetic or envious), the £100,000 property for £60,000 idea is nonsense. "

i think this pretty much lays the idea to rest for the vast majority of us. game over.

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I agree wholeheartedly with the above, but I am becoming increasingly convinced that SIPPs will affect the housing market simply because of ignorance or the way it might be mis-sold. Seem to be too many VI's pushing it for it not to affect thinking, and we all know the British public don't inform themselves very well.

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I'm just very very suspicious when this party comes to the public and offers a sector of population who are not it's core voters a tax break that looks far to generous to be true. <_<

hmm, interesting thought. not looked at it that way. cannot argue against it really, other than nulab not being in power after the next election!

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I agree wholeheartedly with the above, but I am becoming increasingly convinced that SIPPs will affect the housing market simply because of ignorance or the way it might be mis-sold. Seem to be too many VI's pushing it for it not to affect thinking, and we all know the British public don't inform themselves very well.

I agree. And this could become a critical issue for me. The heat is slowly building from Mrs Starcrossed to buy next year. If sentiment (because this is all SIPPS is giving the housing market) drives up prices at all in the next six months then I will probably have to give way.

There is a chance that I can delay for another year if prices are falling fast in Q2 2006. But SIPPS does appear to have changed attitudes (with VI help, of course) so it may be the thing that decides the issue. How frustrating.

Regardless of my own personal circumstances , it stinks for FTB and lower-income earners that this is even happening. I hope that Gordon gets hell for this from Labour supporters.

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"Mr Huhne is right when he talks about investors needing a sizeable pension pot already: you can only borrow up to a maximum of half the value of your fund. So if this is only £50,000, you will be hard-pushed to find anything to buy for £25,000."

Shouldn't that be £75,000 not £25,000 ?

Yes, but remember it was written by Catherine Riley.

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I hope that Gordon gets hell for this from Labour supporters.

Deafening silence so far. Can't imagine why they would suddenly make a noise. Once upon a time the likes of Len Murray would have brought a Labour government down for doing this but now ... what is the Labour party?

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  • 333 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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