Pension tax attack! I’d buy UK shares in an ISA to avoid Rishi Sunak’s wealth grab

first_imgPension tax attack! I’d buy UK shares in an ISA to avoid Rishi Sunak’s wealth grab I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Enter Your Email Address See all posts by Harvey Jones “This Stock Could Be Like Buying Amazon in 1997” I’m a fan of investing in UK shares at any time, but especially right now. This year’s stock market crash has thrown up plenty of bargains for long-term investors who are happy to look beyond current turmoil. Now there’s another pressing reason to invest, and use your tax-free Stocks and Shares ISA allowance. It could help you escape the upcoming tax grab from Chancellor Rishi Sunak.The Chancellor is popular today, as his furlough scheme has saved millions from unemployment, while Eat Out to Help Out has given the restaurant trade a much-needed boost. He won’t be as popular if he unleashes a £30bn-a-year tax raid in November’s budget, as reports suggest.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Fighting Covid-19 does not come cheap. The government borrowed a record £127.9bn between April and June to keep the country afloat. The national debt now stands at a mind-boggling £2tr. At some point, somebody has to pay. That point is likely to come in November. Buying UK shares today can head off some of the worst consequences.Buy UK shares and save taxThe Treasury is said to be considering a number of options to raise tax, several of which will hit investors hard. One is to increase capital gains tax (CGT), to bring it in line with income tax rates. I think this change is particularly likely, as it will be marginally less painful (from a political point of view) than some of the other options.If you invest inside a Stocks and Shares ISA, you do not have to pay any income tax on your returns, or CGT either. I’d recommend using as much of your £20,000 annual allowance as you can afford to invest in UK shares today, while they are still cheap after the stock market crash.The Chancellor may also scrap or temporarily suspend the State Pension ‘triple lock’, which guarantees that pension income will rise in line with earnings, inflation, or 2.5%, whichever is higher. If that goes, it will increase the importance of investing in UK shares under your own steam.Possibly a bigger worry for investors in UK shares is that Sunak will target pensions tax relief. This tops up your workplace or personal pension contributions by either 20%, 40%, or 45%, depending on your tax bracket.Pension tax relief targetedThis idea has been floated again and again in recent years, but never made it into the Budget speech. That could now change. I could see Sunak reducing the benefit to 25% for all. So if you are a higher or additional rate taxpayer, you should consider taking advantage of this valuable sweetener today, to turbocharge your pension. Especially while UK shares are cheap.As far as I can see, there is no talk of the Treasury targeting the £20,000 Stocks and Shares ISA allowance. This is already a hugely attractive way to invest in UK shares. If Sunak’s tax attack does happen, it will be even more appealing.That gives you another reason to buy UK shares today, as building your retirement wealth by other means could prove harder. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Harvey Jones | Monday, 31st August, 2020 center_img Image source: Getty Images. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Simply click below to discover how you can take advantage of this. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Our 6 ‘Best Buys Now’ Shares Harvey Jones has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.last_img read more

Robben reveals why he came out of retirement

first_img Read Also: Video: Liverpool stars wildly celebrate first ever EPL title win “If another club had come in with a good offer, I don’t think I’d have accepted it. “Of course, the difference in standard with Bayern Munich is big, but I’m doing it for the team and I hope I can enjoy myself.” FacebookTwitterWhatsAppEmail分享 Loading… Arjen Robben has explained why he has chosen to come out of retirement to play for Groningen. Arjen Robben The former Real Madrid and Bayern Munich winger retired from football last summer, but will now feature for his former club in the Eredivisie. “[I came out of retirement] for my love of the club,” Robben said about playing for Groningen again in a press conference. “If I can do something for the club, I think the area where I can be of most use is on the pitch. “Initially, we were talking about an attempt to return, but I feel quite good and I think I’m heading in the right direction.Advertisement “I still have to make a few more steps, but I have a very good feeling about my future. Promoted ContentPlaying Games For Hours Can Do This To Your BodyEver Thought Of Sleeping Next To Celebs? This Guy Will Show You7 Ways To Understand Your Girlfriend Better18 Cities With Neverending Tourist-Flow2020 Tattoo Trends: Here’s What You’ll See This YearCan Playing Too Many Video Games Hurt Your Body?10 Risky Jobs Some Women Do7 Of The Wealthiest Universities In The WorldWhich Country Is The Most Romantic In The World?7 Ways To Understand Your Girlfriend BetterThis Muslim Woman Belongs To World’s 10 Strongest WomenWhat Happens When You Eat Eggs Every Single Day?last_img read more

Ramos header puts Real Madrid back on top

first_imgSERGIO Ramos headed a late winner as Real Madrid recovered from a howler by keeper Keylor Navas to beat 10-man Real Betis to go top of La Liga.Navas escaped a red card for fouling Darko Brasanac, then spilled Antonio Sanabria’s shot into his own net.Cristiano Ronaldo headed Madrid level from a Marcelo cross before half-time.Betis defender Matteo Piccinini was sent off for dragging back Lucas Vazquez with 12 minutes left, before Ramos powered in a Toni Kroos corner.Morata cannot Bale out Madrid – but Ramos canCaptain Ramos has made a habit of scoring vital goals for Zinedine Zidane’s side this season – most notably a last-minute equaliser against Barcelona and a late winner against Deportivo, both in December.The centre-back’s power from set-pieces proved vital as Real did not quite click in attack without the suspended Gareth Bale, and with Karim Benzema named among the substitutes.Alvaro Morata, given a chance from the start, was unable to make an impact and was replaced by Benzema with 20 minutes left.Ronaldo provided his usual threat, heading a fine equaliser and seeing another goal ruled out for offside.last_img read more