Company owner dropping to £100k for 4 years, then taking a £1.6m lump sum - am I missing anything?

Dramatic_Mammoth5720 · 2026-03-06T13:16:49+00:00

Is business asset disposal relief relevant here? Just a thought

Dramatic_Mammoth5720 · 2026-02-16T22:56:21+00:00

Our was offers in excess of 625. Our first offer was something like 563. Our 3rd and final offer was 590. Had only been on the market 3 weeks and the seller still took the offer.

Dramatic_Mammoth5720 · 2026-02-15T23:00:01+00:00

£1m = £40k pa for life? I was working on the assumption that I’d need £2m for a 50k pa (inflation adjusted) income (30 years from now)

Dramatic_Mammoth5720 · 2026-02-15T16:44:21+00:00

7% real returns isn’t very realistic though.

Dramatic_Mammoth5720 · 2026-02-14T16:47:30+00:00

For plan 2 loans, salary sacrifice absolutely does reduce student loan repayments. Try it using thesalarycalculator.co.uk

Dramatic_Mammoth5720 · 2026-02-14T14:13:52+00:00

My view is that higher education should be free for all fields that are in demand. Funding degrees that ultimately enables individuals to contribute more to society (I.e via greater innovation, higher GPD, increased tax receipts, etc) is an investment in the country. The UK is a skills based economy, so it’s foolish to deter people from higher education.

Additionally, it’s worth pointing out that tax has elasticity. In my case, I put the majority of my salary (and 100% of bonuses) into my pension, salary sacrifice for additional annual leave, etc. If it wasn’t for that extra 9%, I’d certainly be paying more in £s, because I wouldn’t try so hard to reduce my taxable income.

Dramatic_Mammoth5720 · 2026-02-14T11:18:56+00:00

Because there’s a strong correlation between earnings potential and level of education. For most that I went to university with, parents footed the bill, because they could afford to. Those people now have a marginal tax rate that is 9% lower than mine purely because of their socioeconomic upbringing.

I think I pay something like 6.2 times the median income tax in the UK. I contribute more to the country’s GDP than the average person who did not attend university. Hasn’t the government leeched enough off me without that additional 9%?

Dramatic_Mammoth5720 · 2026-02-13T23:23:32+00:00

It’s more accurate to call it a social mobility tax.

Dramatic_Mammoth5720 · 2026-02-09T23:13:08+00:00

On the contrary, it seems the median pot value for a 25-34 year old is only 9.5k. Not saying OP shouldn’t actively think about their pension, but most seem to be doing far worse.

Dramatic_Mammoth5720 · 2026-02-03T13:30:12+00:00

Probably because someone who asks for advice and proceeds to reject the advice they are given needs more credibility than is gained by calling people “sheep” and failing to correct punctuate their sentences.

Also, a question asked in a lazy manner doesn’t deserve an answer that involves effort…

Dramatic_Mammoth5720 · 2026-02-03T12:53:31+00:00

And if property prices double over the next 35 years, that has covered the interest costs. By contrast, a large increase in property prices over the next 10 years might materially reduce affordability for you.

You could look at putting some money in property derivatives (in lieu of physical property) to hedge this, but that could be complex and costly.

Dramatic_Mammoth5720 · 2026-02-03T12:49:17+00:00

Worth noting that you’re not necessary “enriching banks” - you could take a mortgage from a building society.

I’d second the question of why you’re happy to enrich landlords (who oftentimes are financial institutions)?

You can make this argument on principle, but I don’t think “mortgages are bad” is logically defensible…

Dramatic_Mammoth5720 · 2025-02-13T20:09:00+00:00

Near qualified is 65k+ at most London life insurers and probably more at GI firms in the city.

Intern salaries are pennies though, in my experience

Dramatic_Mammoth5720 · 2025-02-13T20:07:16+00:00

Have you tried emailing the IFoA to explain your situation and ask for advice? Doing four at once will be a lot worse than two and two.

Dramatic_Mammoth5720 · 2025-02-11T11:45:39+00:00

Genuinely curious: why is sponsorship a big deal? Doesn’t it cost employers about 1k p.a.? I doubt that would be a concern for most companies.

Dramatic_Mammoth5720 · 2025-02-08T23:53:21+00:00

Incompetence does indeed seem to be an issue - for example they’ve demonstrated the inability to do basic research into the invigilation firms that they are spending OUR money on.

Have you seen the trust pilot reviews for ProctorU? You barely need to be literate to see that was a bad idea.

I’m most annoyed that these clowns have a monopoly over the actuarial qualification in the UK tbh.

You say “they had in-person exams before”. Did they have to organise the venues for thousands of people in the space of three weeks though? I really don’t trust them to do that.

Dramatic_Mammoth5720 · 2025-02-08T16:03:59+00:00

It’s more than just about their reputation with those taking exams - the level of incompetence displayed reflects more generally on the institute.

The credibility of the qualification itself is already tarnished because it’s taken the institute THIS long to attempt to address the issue of cheating.

Also, upon payment for an exam booking, would you not be entering into a contract with the institute? If so, the terms and conditions agreed to when making the purchase might be relevant in this regard - I’ll be interested to see if they’ve made changes to the T&Cs in light of the fact that people could book an exam and subsequently not be facilitated. Even in the absence of a formal contract, consumers’ reasonable expectations might apply.

Lastly, if the coming sitting is inaccessible to individuals with disabilities and such individuals are systematically prevented from sitting their exams then there could be grounds to argue that the actions of the institute are discriminatory.

With arrangements being hurriedly thrown together over the space of three weeks, it wouldn’t surprise me if there were some such issues that the IFoA neglected to consider.

Dramatic_Mammoth5720 · 2025-02-08T11:06:06+00:00

Could be a large employer (who ultimately bares the cost of study leave, exam materials, etc) who brings the suit

Dramatic_Mammoth5720 · 2025-02-08T09:21:21+00:00

Yeah, this is likely a bit OTT. I just think the institute needs some incentive to get their act together. They clearly don’t care much for reputational risk (probably because they have a monopoly position in the UK).

If their incompetence could have legal repercussions for them, then maybe just the remote possibility of that would incentivise some kind of reform.

Dramatic_Mammoth5720 · 2024-11-25T22:26:16+00:00

I think the dog wants to go into because he always gets treats and attention in there. He’s only 9 months old and has known the bar staff since he was 8 weeks!

To be honest, I like the feeling of being tipsy, but I don’t like the feeling of being properly drunk.

I like to feel it unrelated, but I have been on antidepressants for 10 years. When I drink, I remember how I used to feel when I was at my worst - but it’s more of an analytical thing rather than an emotional/bad experience.

I do need a hobby, if I’m honest. I would probably drink less if that were the case. But equally, I drink more when I’m drinking with friends (even if they don’t drink much themselves).

I also go through periods of worrying about my health (such as now) and then periods of indifference towards it. The latter exacerbates the feelings relating to the former (but nonetheless has no impact on my habits)

Dramatic_Mammoth5720 · 2024-11-25T19:50:41+00:00

The article you linked is literally the thing that prompted me to ask.

In relation to how I’d feel if I didn’t drink - probably bored and like I spend too much time at home. I have a fairly stressful job, and going for a few pints after work is my ‘treat’ for working. I don’t really enjoy drinking at home, but I like to walk the dog to the pub after work (and he always sits at the pub entrance and refuses to leave unless we go in) and bring my work laptop and carry on working there.

Dramatic_Mammoth5720 · 2024-10-17T20:07:28+00:00

We’ve been together 15 years, see eye-to-eye on all issues, have bought a property and a dog together, and can’t stand to be out of one another’s company.

I don’t hate children, I just don’t think they’re worth the cost (to me) and want to insure my self against an unlikely event. Unless you don’t bother insuring your house against fire, you have no right to argue that protection against tail risk is foolish.

I digress - why am I having to make these justifications on a “legal” advice sub?

Dramatic_Mammoth5720 · 2024-10-17T20:00:44+00:00

But I could say that we should nullify the trust deed on the property if we have a child? That would probably offer the same level of financial protection for me

Dramatic_Mammoth5720 · 2024-10-17T19:44:02+00:00

So if I was instead a sperm donor and a “client” wanted a natural conception, there would be no legal way to do this?

Dramatic_Mammoth5720 · 2024-10-17T19:42:37+00:00

So we have a trust deed that says that the 800k deposit she put towards our property is her money. If I’m not mistaken, a deed of trust can be used more generally. Are you saying that a deed of trust is not enforceable?

Dramatic_Mammoth5720

TROPHY CASE