[kaos]

Personally I have always thought that LIITA is a better and stronger image than GWRB. It's also more Banksy than GWRB. The latter is a delicate piece with a very personal message and the former has a strong in your face political message. It cannot be more Banksy. I for one am very pleased to see the price adjustment between these two pieces. I know art is subjective and many people will disagree, that's ok. That's why we love art, it moves us in different ways. My two pennies worth.

[Lazarus II]

Sept 18, 2020 21:23:53 GMT 1 bob60 said:

Sept 18, 2020 21:16:39 GMT 1 Martin M said:

Your right Aza, I'm struggling to see that much money on the wall.  a nice family holiday, classic car (MGA!) and some nice treats for just one piece of paper that cost £450! very tempting.
Gotta remember that dreaded Capital Gains Tax though, thats a big cheque to right to HMRC!!, and i don't think you can avoid it.

How much is CGT, I have no idea?

you get an annual exemption allowance of £12k and you are liable for tax at 20% on profit above that.

[jstjst]

Sept 18, 2020 21:23:53 GMT 1 bob60 said:

Sept 18, 2020 21:16:39 GMT 1 Martin M said:

Your right Aza, I'm struggling to see that much money on the wall.  a nice family holiday, classic car (MGA!) and some nice treats for just one piece of paper that cost £450! very tempting.
Gotta remember that dreaded Capital Gains Tax though, thats a big cheque to right to HMRC!!, and i don't think you can avoid it.

How much is CGT, I have no idea?

In the UK currently annual tax free cgt allowance of just over £12k, then either 10 or 20% depending on your income tax band. Rumours are It is likely to be reformed sometime soon.

[Martin M]

Thanks Lazarus, i was trying to work it out. Its a lot!

[jp226]

Sept 18, 2020 21:16:39 GMT 1 Martin M said:

Sept 18, 2020 21:04:56 GMT 1 Aza said:

Bloody hell it’s getting to the point of selling up.
To the average person the money is getting too high to be worth keeping a little bit of paper on the wall!

Your right Aza, I'm struggling to see that much money on the wall.  a nice family holiday, classic car (MGA!) and some nice treats for just one piece of paper that cost £450! very tempting.
Gotta remember that dreaded Capital Gains Tax though, thats a big cheque to right to HMRC!!, and i don't think you can avoid it.

Preach! Its hard not to want to sell and buy a few classic cars --- grew up restoring TR's with my pops. 

[robo]

Sept 18, 2020 21:26:50 GMT 1 kaos said:

Personally I have always thought that LIITA is a better and stronger image than GWRB. It's also more Banksy than GWRB. The latter is a delicate piece with a very personal message and the former has a strong in your face political message. It cannot be more Banksy. I for one am very pleased to see the price adjustment between these two pieces. I know art is subjective and many people will disagree, that's ok. That's why we love art, it moves us in different ways. My two pennies worth.

Well put and I Completely agree.

[vandamme]

Wow I'm blown away. I haven't been on the forum for a while and to return to the Banksy frenzy is incredible.

There will be a lot of forum members that will be celebrating tonight and the thought of cashing in now will be a serious thought for many... Although things could continue to go up, who knows.

What I would love to know though?? is if an unsgned LIITA sold for £214,000 and by the sounds of it was in bad condition Also a signed GWRB sold for £438,000 Where does that put a signed LIITA in excellent condition.

[vandamme]

Well done!

[bob60]

Sept 18, 2020 21:30:34 GMT 1 jstjst said:

Sept 18, 2020 21:23:53 GMT 1 bob60 said:

How much is CGT, I have no idea?

In the UK currently annual tax free cgt allowance of just over £12k, then either 10 or 20% depending on your income tax band. Rumours are It is likely to be reformed sometime soon.

Thanks
I don't pay tax as I retired young so don't earn enough to go over my yearly tax allowance. So if I sold a print for say £60.000 would I pay 10% minus the £12k CGT allowance?

[vandamme]

to be honest 20% on a lot of money still leaves you with alot of money 

[bob60]

Sept 18, 2020 21:38:49 GMT 1 vandamme said:

to be honest 20% on a lot of money still leaves you with alot of money 

Yes of course you are right,but I would prefer it if I only had to pay 10%, as would everyone.

[jstjst]

Sept 18, 2020 21:37:38 GMT 1 bob60 said:

Sept 18, 2020 21:30:34 GMT 1 jstjst said:

In the UK currently annual tax free cgt allowance of just over £12k, then either 10 or 20% depending on your income tax band. Rumours are It is likely to be reformed sometime soon.

Thanks
I don't pay tax as I retired young so don't earn enough to go over my yearly tax allowance. So if I sold a print for say £60.000 would I pay 10% minus the £12k CGT allowance?

 Not quite as simple as that - depends on how much the gain is - and how much other income you have ... hmrc have a simple guide to it - sorry, can’t get link to post. 

[vandamme]

absoloutly, its still going to hurt having to pay 20%

[vandamme]

mine is in mint condition

[marquis]

Capital gains tax calculator:

taxscouts.com/calculator/capital-gains-tax/

[woodman]

www.gov.uk/capital-gains-tax/rates

[suprapower]

Sept 18, 2020 21:48:16 GMT 1 vandamme said:

mine is in mint condition

So.... are you a seller? 

[Pawel]

Sept 18, 2020 21:53:41 GMT 1 suprapower said:

Sept 18, 2020 21:48:16 GMT 1 vandamme said:

mine is in mint condition

So.... are you a seller? 

So... are a buyer?
Edit: as mentioned earlier in this thread I don't own any banksy pieces, apologies for confusion.

[JockoLad]

Sept 18, 2020 21:55:00 GMT 1 Pawel said:

Sept 18, 2020 21:53:41 GMT 1 suprapower said:

So.... are you a seller? 

So... are a buyer?

Hey fun boys, get a room!

[bob60]

Sept 18, 2020 21:49:56 GMT 1 woodman said:

www.gov.uk/capital-gains-tax/rates

Thanks..

[Graham H]

Is that the new £300000 note?

Sept 18, 2020 21:48:16 GMT 1 vandamme said:

mine is in mint condition

[therivler1]

Sept 18, 2020 21:57:16 GMT 1 Graham H said:

Is that the new £300000 note?

Try 400.

[vandamme]

Well I was not considering it until today but now I certinally would

[Graham H]

Is it just me.. or is there rather a lot of high fiving and backslapping on here today.. 

Hopefully for everyone concerned it stays that way!

[Rubberneck]

Sept 18, 2020 21:16:39 GMT 1 Martin M said:

Sept 18, 2020 21:04:56 GMT 1 Aza said:

Bloody hell it’s getting to the point of selling up.
To the average person the money is getting too high to be worth keeping a little bit of paper on the wall!

Your right Aza, I'm struggling to see that much money on the wall.  a nice family holiday, classic car (MGA!) and some nice treats for just one piece of paper that cost £450! very tempting.
Gotta remember that dreaded Capital Gains Tax though, thats a big cheque to right to HMRC!!, and i don't think you can avoid it.

It’s a difficult one, because you won’t find a better investment at the moment 

[Deleted]

www.artsy.net/artwork/banksy-no-ball-games-grey-46

CHEAP BANKSY ALERT

[Pipes]

Sorry to compare to stocks - but are we at "Delusion" or "Euphoria"

Stages of a bubble

Prices have never risen so fast (just like tech did this summer) and then there was a sell off /correction.

[singerstu]

Sept 18, 2020 21:48:16 GMT 1 vandamme said:

mine is in mint condition

Nice, you might want to call your insurance company. 

[vandamme]

yes absolutely

[Pawel]

Sept 18, 2020 22:10:45 GMT 1 Pipes said:

Sorry to compare to stocks - but are we at "Delusion"

Stages of a bubble 

Nobody knows where we are at, but for LIITA to continue the increase from 36k to 230k in 4 months it would be 1.2M in January. I would say it's rather unlikely.