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Got a nice divi payout. Is PHNX a good home at what appears to be a good price, or is there hidden danger?
AbjectPerformer, If your employer does make PILON then its most likely contractual than not. The £50k PILON would therefore be liable to income tax and NIC, and the £30k tax-free would not apply. So, if you were paid £100k in the same tax year, the whole amount would be subject to income tax and NIC in the normal manner i.e. the £50k PILON would be liable to income tax and NIC at your marginal rates (for the most part, 40% for income tax and 2% for NIC).
As it’s your money why not do some proper research rather than just asking total strangers and clogging up boards with your personal issues?
No one cares about your personal leave, we’re just depressed by your stupidity and selfishness.
Not yet I haven’t , rodders is loitering there
You asked the same Q on th PHNX, IDS and NWG boards...Yet you didn't on the BT.A board
Hi Trotsky thanks for reply and others
My company does make PILON.
Hi honest Bob and others
So for instance if earnings for the year are £50,000, and a voluntary payment of £50,000 the total for the year is £100,000
If we remove £30,000 plus £12750 = 42750
So £100,000 minus 42750 ,
there is 57250 to pay tax on?
Would roughly 37500 be taxed at 20% and rest , 19750 be taxed at 40%?
If so it would mean £20,000 of the £50,000 voluntary package should be put into the pension pot to avoid 40% tax ?
I know there’s the notice tax too?
Why is there very little movement in PHNX?
Voluntary leave would suggest that you are not taking/being offered redundancy (so statutory redundancy rules would not apply). Contractual payments in lieu of notice (PILON) are subject to income tax and NIC. The first £30k of non-contractual PILON may, in some circumstances, be paid tax-free but it's complex e.g. your written contract may not provide for PILON but if it's habitual for your employer to make PILON regardless of what's written in the contract then HMRC may deem it to be an unwritten contractual entitlement.
Abrdn 9.3% yield vs Phnx 10.3% yield that more underpinned. So out of the choices it’s Phnx for me.
And that’s related to Phoenix how?
Go on the internet there are loads of tax calculation sites.
Hi
I’m just wondering about tax implications when taking a voluntary paid leave.
For easiness sakes let’s say the salary is £50k
If you work the full year April to March and receive £50k one year pay to go. How does the tax on this work out?
Would it be £30k tax free,
£12750 tax free allowance
How is the remaining £52500 treated?
How much is paid at 20.% and how much at 40%?
This helps me determine how much salary needs to go in the pension, and how much of the voluntary leave payment should go into the pension too over the £30k tax free limit.
PHNX is not an ABDN shareholder. Standard Life Aberdeen (SLA) became a major sharholder in PHNX after PHNX acquired SLA's UK and European life insurance business in 2018 for c£3.3bn (SLA originally acquired c19.9% of PHNX but subsequent disposals by ABDN have reduced its interest). PHNX subsequently acquired the Standard Life brand name in May 2021 and SLA rebranded itself ABRDN.
Red - the only read across I'm aware of is both hold major quantities shares in each. As for business models they are very different.
Luckily I only put £1500 in abdn altho I bought two bits one 200p other 150p , and my Divis reinvested low.
Rest gone into phnx 2420 shares
Other than both being income shares I’m not sure they’re comparable.
As an investment company Abrdn has been suffering large cash outflows over last few years and doesn’t seem to be generating market leading returns for savers. Perhaps as interest rates drop more money will flow back to stock based investments.
They haven’t been popular wasting money on stupid rebranding and losing their vowels. OAPs don’t like words designed for teenagers and guess who has the money to invest?
Phoenix on the other hand just chug along with a decent dividend and the possibility of capital gain.
Hi all, looking for any insight to abrdn being so heavily shorted and any read across to phnx ?
I know they have a reasonable relationship with one another, but would welcome insight. Thanks
Careful what you wish for Tambo.
I very much doubt the pm would have called an election if he didn’t think there were already major cracks in the economy starting to appear
Historically, we've seen dips as low as that, deep in Summer. So whilst its a stretch, it may not sound ridiculous.
I hope that happens to $LGEN....I'm waiting to buyback below 230p. On the election can take it down that much with a whacky result.
Https://shorttracker.co.uk/company/GB00BGXQNP29/
Have a buying limit @ 450p (if possible)...IMHO-DYOR
Share price still falling , yielding 10.7% today which may well turn out to be a positive once interest rates fall
You would soon know if there were.
Are there actually any genuine rumours of potential suitors in the near term?
Unless an offer comes in at 750p which would still be a yield of 7% & hopefully rejected.
How low will it go????
Can’t see it happening this side of the election A.P.
When are we going to see phnx back at 650p!