How to get the best out of AA and your computer
by christella 07 Jul 2015, 06:54
of course you are right and this could happen
i can remember when the lira dropped to just over 2 to the pound and a lot of money was made

Image
bowling is like sex you dont have to be any good at it but you really enjoy it
by gumball 07 Jul 2015, 07:39
Yes oldfogy the last post was my take on it ,if I change my sterling to lira at today's rate and the lira does fall back then surely I will gain .I know if the lira rate goes higher then that's a different story. I'm not wise enough to know what effects this rate .Does anybody? Crystal ball needed I think
by christella 07 Jul 2015, 07:41
i wish

Image
bowling is like sex you dont have to be any good at it but you really enjoy it
by oldfogy 07 Jul 2015, 11:25
bomkaz wrote:Correct me if I'm wrong oldfogy but if they invest at four lira to the pound and it drops to three lira they Gain not loose ? £13333. Plus interest?

YES, you are correct, I'm not going to try and make any excuse 'I just got it wrong', and managed to get it the wrong way around.

Thanks for pointing that out :oops:


I have since removed the wrong/misleading information.
by Shakespeares 09 Jul 2015, 17:20
In the not so distant past we had a Lira account that was paying just 6.75% at the time. In one year we lost £16000 in value on our deposit so there is a great risk involved, the criteria has to be - If you can afford to gamble and lose, leave your money in Lira.
The first time I visited Turkey I got 14000Lira to the pound, the next time I visited I got 2350000Lira to the pound. I haven't forgotten that. Many people are saying that the Lira will get stronger, it has never done so either substantially, or for a long period, the trend has always been down.
Our friends now keep their money in the UK and only bring across what they need for a month/3 months. That way they get the better rates and do not gamble with much, it seems to be the best way.
by christella 09 Jul 2015, 17:25
well said

Image
bowling is like sex you dont have to be any good at it but you really enjoy it
by christella 09 Jul 2015, 19:52
christella wrote:I am getting 6%. Plus here in the UK

https://www.wellesley.co.uk/


just released today




Web Version | Update preferences | Unsubscribe


Facebook icon Like Twitter icon Tweet Forward icon Forward






Announced in the first newly elected Conservative Government’s Summer Budget 2015, the Government have decided that Peer-to-Peer investments will be ISA eligible from the 6th April 2016.

Peer-to-Peer investments will be eligible through the creation of a third ISA type; the ‘Innovative Finance ISA’.

The Government have published its response to the ISA qualifying investments consultation on including Peer-to-Peer investments which can be viewed in full here.

The Government have decided to create the new ISA type, to distinguish it from other ISA qualifying investments currently available. The new Innovative Finance ISA will be subject to different rules in relation to withdrawal, transfer and ownership, therefore a separate identity is required.

The creation of the Innovative Finance ISA is consistent with the Government’s objectives to encourage Peer-to-Peer growth and ensure maximum consumer choice as investors will not need to choose between only Stocks and Shares but also Peer-to-Peer investments.

What are the next steps for the Innovative Finance ISA?

The Government believes that the approach to the new Innovative Finance ISA is the most appropriate method of including Peer-to-Peer investments within an ISA type wrapper. To ensure that the new ISA’s modifications are clear the Government intends to publish draft legislation for technical consultation later this year, with a view to legislating to allow Peer-to-Peer investments to be held in an ISA from 6th April 2016.

Alternative Finance Sector Updates:

Bad debt relief for the Peer-to-Peer (P2P) Industry – As announced in the Autumn Statement of 2014, the Government will allow tax relief on bad debts incurred on P2P loans against other P2P income from April 2015. Draft legislation will be published later this year. (Finance Bill 2016)

Peer-to-Peer withholding tax – In the Autumn Statement of 2014 the Government announced that new rules on how withholding tax applied on P2P loans would take effect from April 2017. The Government will consult on the proposals over summer 2015. (Finance Bill 2016)

Competition in SME lending - The Government will introduce final legislation implementing two major reforms to the SME lending market. The first will require the UK’s major banks to share credit information on their SME customers with other finance providers through designated Credit Reference Agencies (CRAs). The second will require those same banks to offer SMEs they reject for finance the opportunity to be referred to a finance platform that can help match them with alternative lenders.

Pensions Updates:

Following the successful launch of Pension Wise in April 2015, the Government is extending access to this free and impartial guidance service to those aged 50 and above.

From April 2016 the Government will deliver a major reduction in the level of tax on savings with the introduction of the Personal Savings Allowance, which will exempt the first £1,000 of savings income from tax for basic rate taxpayers and the first £500 for higher rate taxpayers, this Budget announces the creation of a new £5,000 dividend allowance.

For the Summer Budget 2015 in full, please see here.






Investment through Wellesley & Co involves lending to individuals or companies and therefore your capital is at risk and interest payments are not guaranteed if the borrower defaults. It is important to remember that historic loan default rates are not necessarily indicative of future default rates.

Wellesley & Co is Authorised and Regulated by the Financial Conduct Authority (FCA) (registration number 655503). Wellesley & Co is not covered by the Financial Services Compensation Scheme. Wellesley & Co Limited (No. 07981279) is registered in England and has its registered office 7 St John's Road, Harrow, Middlesex, HA1 2EY.Wellesley Finance Plc is not regulated by the Financial Conduct Authority and does not offer any regulated services. Wellesley Finance Plc (No. 08331511) is registered in England and has its registered office 7 St John's Road, Harrow, Middlesex, HA1 2EY. The trading address for both Wellesley & Co Limited and Wellesley Finance Plc is Second Floor, 83 Baker Street, London, W1U 6AG.

You are receiving this because you are registered to Wellesley ISA updates.

Edit your subscription | Unsubscribe
St Albans House
57/59 Haymarket
London
SW1Y 4QX

0800 888 6001

Image
bowling is like sex you dont have to be any good at it but you really enjoy it
by gumball 12 Jul 2015, 16:51
Thanks for all the info .One other question if I do transfer the money back to the UK will the taxman have any interest in it . I am self employed . I also have owned the property since 2007 .
by Juco 12 Jul 2015, 17:23
christella wrote:I am getting 6%. Plus here in the UK


9th July..... Regulation - How will the IFISA be managed?
• The government will regulate financial advice on peer-to-peer lending.
• Peer-to-peer lending platforms will not be brought into the Financial Services Compensation Scheme. Therefore, capital will remain at risk.

Juco
by annabelle 12 Jul 2015, 18:55
gumball wrote:Thanks for all the info .One other question if I do transfer the money back to the UK will the taxman have any interest in it . I am self employed . I also have owned the property since 2007 .


The Taxman wont touch you until you start to make interest on the money ,which from next year you wont pay any tax on any interest earned under £1000 . 8-) Ann

Who is online

Users browsing this forum: No registered users and 2 guests