Luckily living in the UK and bring a small investor we have 2 tax efficient ways of buying shares
1 SIPP where you get 25% added to anything you put in. At retirement age ( post 55), there are several options. One being you can take 25% of the fund tax free. The remaining income you take is added to your yearly income and taxable
2 ISA where you can put £20k pa and invest. No matter how much the value increases it’s totally tax free. I hold several hundred thousand IMU shares here, so not a large amount. Still if in the course of time the SP starts with a $ then I am not liable to any tax when I do eventually sell
You can hold shares in a share account and have a capital gains ceiling of circa £12k before paying tax. No holding for a year discount
I am very happy to have found this little gem ( IMU) thanks to my nephew who lives in Sydney putting me onto HC
Stay safe down there. It’s been tough in the UK for sure
IMU Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held
(20min delay)