Money Making Schemes

Why can’t the uk government print money, but only a bit to help with whatever they want?

Now I’ve read a bit on printing money and inflation that follows, but many people point to Germany, but they printed loads didn’t they.

Why couldn’t the UK government print say 100 million pounds in secret…….lets say for the latest weapons and tech in the army and buy it from abroad, the US maybe. Or even the latest equipment and machines for hospitals, again from abroad, US maybe and then many hospitals throughout the UK could have an upgrade in equipment.

Is everyone not a winner that way? I mean even if they bought it from companies in the uk that small amount in the grand scheme of the economy surely wouldn’t make businesses raise prices, therefore inflation.

So if we print small amounts compared to the amounts economies have and buy from abroad or even if we didn’t, would these small amounts really have any effect and if so why?

As we were sensible and didn’t do it much then would that work?
Yes of course they do, but I mean to use as free money so to speak from outside the budget.
Also, no I’m not thinking of the Euro.
Loneranger, could they not print, bank then transfer? Also they could just use this country to buy from, as 100m is not a lot in economy terms and unlikely to affect anything.

Are all “pension liberation” schemes a scam?

I have a local government pension pot. I have cancelled the pension as I am looking to emmigrate to canada. I would like to access the funds now if possible. I have found various websites which offer pension liberation. This is the explanation I received from a company I contacted:

You set up a UK limited Company as a personal management company
(PMC) “to use, manage, control and invest personal assets in a tax efficient
manner”

· You join the Lincoln Pension Administration (LPA) Umbrella
Remuneration Trust (UPENT)

· Your PMC enters into a fiduciary services agreement with the
Trustees of the UPENT which renders it a tax exempt entity because the
trustees of the scheme are outside the UK (Jersey or Belize)

· Your PMC provides you, its director, with sole use of the
trustees’ discretionary powers in respect of the PMC’s assets (your pension
“pot”)

· Your existing pension(s) is/are transferred to the LPA UPENT using
standard pension transfer legislation – nothing clever there, IFAs and
Accountants do this all the time.

· You legally relinquish your rights to annuity and other benefits
from the scheme – which UK pension rules allow you to do.

· This makes your pension assets no longer pension assets that fall
under the Registered Pension Schemes legislation but simply ordinary assets
which can be treated as such

· LPA passes 89% of the now free asset value into the fiduciary care
of your PMC having deducted the 10% transfer fee and two ½% annual
administration charges in order to maintain the legal integrity of the
arrangement

· The director(s) or your PMC (you and your wife/partner) have sole
control over the use, investment and management of those assets as directors
of the PMC and tax free as fiduciaries.

· The PMC holds the “spare” 4% to make annually two ½% payments to
the Trustees for “administration” for the next 4 years – again to maintain
the legal integrity of the arrangement.

· You, the individual or Member of the UPENT, pays the PMC £100 per
month to maintain beneficial status of the UPENT in Law (you will appreciate
when you read on below about loans that you will merely be borrowing from
yourself and paying yourself back £100 per month) and to render the company
as tax exempt in law.

· In your capacity as fiduciary (acting on behalf of the UPENT
Trustees) you lend money to yourself …. the proceeds of a loan in your
hand is not income so no income tax.

· You pay no income tax anywhere in respect of the PMC assets and
provide for your lifestyle support through commercial loans from your PMC as
above

· The UPENT/PMC combination is not part of your estate so no
Inheritance Tax liability

· Money not required for Lifestyle Support remains within the tax
protection of the PMC for active or passive onward investment i.e. with your
fiduciary’s hat on you buy and sell investments; these can be anything at
all, from property at home or abroad to precious metals, from stock market
options to ordinary investment funds such as your investment advisers are
using at the moment.

· The PMC is a tax exempt entity so whatever it buys and sells is
outside UK taxation, so when you sell assets there is no capital gains tax
for example

· There is no set up cost just two ½% administration charges per
annum (a total of 1%) for five years plus the 10% contribution charge, the
monthly £100 beneficiary status payment and an annual trustee management fee
of £200.

· It costs £14 per year to maintain the registration of the UK
Limited Company with Companies House

· We are paid out of the 10% contribution fee by the tax lawyers on
completion for your transfer.

Warnings on websites state that the individual may be stung with a massive tax bill as what these companies are suggesting is illegal and avoids tax? Any ideas? Thank you

Advice on making own clothes; beginner?

I’ve recently become interested in making my own clothes because I don’t have enough money usually to make the things I really love and also, I’d like to have more original clothing to wear. Plus my body shape is a little awkward and usually things fit in some places but not in others, so it’s a bit annoying finding well fitting clothes.
I’m quite good using a sewing machine and I think I’d be ok making things as long as I have instructions; I have made a few things in textiles at school but not clothes yet.
The things I would like to make for myself at the minute are a checkered shirt and a thin jumper shirt. Would this be particularly difficult? Also, would making skinny jeans be hard also?
http://www.newlook.co.uk/1736003/173600379/ProductDetails.aspx
This is the kind of shirt I’m looking to make, just with a slightly different pattern & colour scheme.
http://www.lauraashley.com/Knitwear/SCALLOP-TRIM-JUMPER/invt/jp197plump
This is the kind of shirt I am looking to make but without the frill around the neck.
Any advice, tips or instructions would be really appreciated (:

Who knows about the UK rules on transferring pensions?

I want to tidy up my finances. I have been contributing into my existing pension scheme for about seven years now, but before that (in previous employments) I had two other schemes.

I only have a vague understanding of the rules here and this is what I am hoping someone can help me with. Can I apply to have the money that’s in these other funds transferred to my current fund? If so, how do I do it? Or is it a bad idea and I should leave everything where it is? (Why?)

One is a “Group Reflex Personal Pension Plan” with Scottish Equitable, the other is a “Group Money Purchase Scheme” with Scottish Widows.

I left both jobs within 6-12 months of starting to make contributions, and my salary wasn’t up to much back then either, so we are not talking about massive amounts here – but it was my money and I paid it in, and I don’t want to risk forgetting about it or losing it because I’ve left it too long.

Thanks!

Why should Icelanders pay?

Recently, the people of Iceland voted no to a referendum on whether or not their government (so, themselves) should pay back a sum of money that investors from the UK and Netherlands had invested in the PRIVATE Icelandic bank Landbanski (known as Icesave).
Now the UK and Netherlands say they will take Iceland to court over this.

My question is,
(1) considering that the bank was a private bank
and
(2) Considering that people invested in Icesave BECAUSE of the higher interest which was due to higher risk of the investment, something the investors knew in advance…

…. Why would anyone think that Icelanders must pay? Is there such a thing as a bank too big to fail? Are people treating investments as guarranteed cash-making schemes? Or am I missing something?