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wysiwyg2009
Guest
Hi to all the board members, I've been hearing a lot about the site from other forums, but never bothered joining up until today, because I wondered if someone could give me some advice about a money problem I have.
Basically, like many people today, I am stuck with owning a reasonable amount of assets, but they are "locked up" for the next few years, and I've run into a cash liquidity problem right now i.e. bloody credit card.
Anyways, here's the story..
I've been buying shares for the past number of years in a work share scheme. You buy them, hold them 3 years, and then can sell them again tax free... I'm sure people would have heard about the scheme. Anyways, I have 14k at todays price in them, but ...
1. Can I cash them all in, and will the tax be payable at 41% on all of them, or is there some kind of clawback formula where the tax payable is decreasing year by year for the 3 years ?
and 2.
My other half has a Royal Liver Savings policy, that will mature in 2013. So far they are saying that she is assured 12,5 K when it does. Do these kinds of policys have "surrender values" ?
Its all a pain in the backside really... I could remortgage to get over the hump, but I am on a good tracker and the payments are dropping like a stone for the last few months. It's just a stupidly used credit card which has built up 13K, and is costing 300 a month in interest.
Any advice please ?
Basically, like many people today, I am stuck with owning a reasonable amount of assets, but they are "locked up" for the next few years, and I've run into a cash liquidity problem right now i.e. bloody credit card.
Anyways, here's the story..
I've been buying shares for the past number of years in a work share scheme. You buy them, hold them 3 years, and then can sell them again tax free... I'm sure people would have heard about the scheme. Anyways, I have 14k at todays price in them, but ...
1. Can I cash them all in, and will the tax be payable at 41% on all of them, or is there some kind of clawback formula where the tax payable is decreasing year by year for the 3 years ?
and 2.
My other half has a Royal Liver Savings policy, that will mature in 2013. So far they are saying that she is assured 12,5 K when it does. Do these kinds of policys have "surrender values" ?
Its all a pain in the backside really... I could remortgage to get over the hump, but I am on a good tracker and the payments are dropping like a stone for the last few months. It's just a stupidly used credit card which has built up 13K, and is costing 300 a month in interest.
Any advice please ?