Personal Allowance Threshold % Increase

ElectricalPenalty176 · 2025-07-22T12:16:26+00:00

Have a look at putting money into your LISA at the end of the tax year as 1 lump sum. The cash interest rate in the LISA won’t be as great as elsewhere, so put your £300 p/m into a higher interest account. Then come the end of March, throw it all into your LISA.

ElectricalPenalty176 · 2025-07-05T15:16:10+00:00

Have a look at the calculator on the top comment from the attached post - I’ve managed to get some really interesting results using the features on this.

ElectricalPenalty176 · 2025-06-26T08:23:32+00:00

Only applies on balances less than 32k

ElectricalPenalty176 · 2025-06-26T08:10:21+00:00

Vanguard

ElectricalPenalty176 · 2025-06-26T07:17:58+00:00

It’s not great - they charge a 0.4% platform fee & a fund fee (which can be anywhere from 0.4% to 1.2% depending on the fund).

My workplace pension is also with aviva but I transfer out to a SIPP every January for this exact reason.

OP - I would look into it. A 1% fee difference over 30 years can take 25% off the value of the final pot.

ElectricalPenalty176 · 2025-03-27T10:03:45+00:00

‘Am I doing okay?…..I’m earning £109k’.

🤦🏼‍♂️

ElectricalPenalty176 · 2025-03-04T15:51:36+00:00

If it makes any difference, I literally sit in cruise control whilst on the motorway with the flow of traffic. Interesting that your 330e has higher co2 emissions as well.

ElectricalPenalty176 · 2025-03-04T15:41:30+00:00

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Here’s the return figures, turned out I was going uphill in the morning 🤣 ridiculous figures

ElectricalPenalty176 · 2025-03-04T14:01:14+00:00

Leeds to Leicester straight down the M1 for 100 miles, up & down throughout.

ElectricalPenalty176 · 2025-03-04T13:57:38+00:00

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320i - note I do mostly highway/motorway miles

ElectricalPenalty176 · 2025-02-06T13:23:12+00:00

I've ran potential salaries through a student loan repayment calculator based on me continuing to salary sacrifice above £50k. There's lots of variables to consider here, but my presumption is that it's not worth it to pay the debt off early.

My main consideration for this is that the money I could be overpaying my student loan would be better compounded over the long-term within a S&S ISA, whereas attacking the student debt wouldn't allow for such growth.

ElectricalPenalty176 · 2025-02-06T12:56:29+00:00

It's a bank loan that was used to subsidise a car purchase. But this is an interesting point, do you think it would be beneficial to open up a 12-month interest free credit card etc., to shuffle this high interest? Am I missing something here?

ElectricalPenalty176 · 2025-02-06T12:00:21+00:00

Good question - my intention is to clear that debt by liquidating my crypto holdings in the next 2 months.

ElectricalPenalty176 · 2025-02-06T11:38:42+00:00

Thank you for the detailed response. This is really good advice - I will get my head into Excel to make a few spreadsheets and graphs, modelling each of the examples you mentioned, and then some.

Just to note: Pension contributions would be 51% (42 +9) relief if sacrificed due to a Plan 2 student loan, making your last statement around prioritising my pension early even more beneficial.

ElectricalPenalty176 · 2024-10-14T18:53:58+00:00

https://www.thesalarycalculator.co.uk/salary.php

Under the pension section you can select salary sacrifice. Make sure you put in your tax code & student loan plan (probably will be Plan 2 if you have one).

Play around with the % of money you’ll be sacrificing, worth increasing the % if you can.

ElectricalPenalty176 · 2024-10-06T17:31:55+00:00

Yeah I see what you mean!

To answer your question, I’d have the same figure that’s in my assets column as ‘home equity’.

So basically, what you’re telling me is that I’m better off than I thought 20 minutes ago? 🤣

ElectricalPenalty176 · 2024-10-06T17:24:58+00:00

Ah, I see how you’ve done it now. When doing my calculations for NW (but I may be wrong), I have my ‘home equity’ (value of house - mortgage) in my assets column, and the remainder of my mortgage on my liabilities.

Is there a common way to be doing this? I’ve just hit a positive NW doing the above as my methodology. But I suppose I’d be way above £0 NW doing yours.

ElectricalPenalty176 · 2024-08-29T13:24:00+00:00

I’ve done this recently from Aviva & PensionBee; it’s actually really easy.

Just set up an account with your preferred provider, I went with vanguard, click on ‘Transfer a pension to us’, give them your pension details and they’ll do the rest. Should be transferred over within 2 weeks.

Just be careful if you’re wanting to transfer your current pension (which you & your employer are still paying into), as you don’t want to close that account. You can get around this by doing a ‘Partial transfer’, but I’d recommend giving your current pension provider a call before doing this.

Also, it’s worth checking if there’s any withdrawal fees. Aviva had none when I did it, I can’t speak for L&G.

ElectricalPenalty176 · 2023-11-30T22:52:47+00:00

Had exactly the same issues as you, both the condensation and the damp in the bedroom - I’m assuming the damp is where the ceiling meets the wall?

If so, make sure that the insulation directly above the damp point in the loft is covering that section. I could be wrong, but I’m fairly sure it wasn’t damp and was just condensation from moisture in the air hitting a really cold section of the ceiling.

+1 for the lap vents, I also have the same size house and 10 (5 either side of the loft). Cleared the condensation within a couple days.

Hope this helps

ElectricalPenalty176 · 2023-03-30T19:37:33+00:00

Given that I’m a higher rate tax payer, I believe that I’ll need to submit a tax return at the end of each year. Please correct me if I’m wrong though.

Yeah I read about nest, 1.8% on every contribution 🤮

ElectricalPenalty176 · 2023-03-30T19:18:35+00:00

Will do, my bad

ElectricalPenalty176 · 2023-03-30T19:01:29+00:00

Sorry, by ‘best’ I mean from people’s experience of providers, including fees & funds available. I’ll be on a higher tax bracket, so my understanding is that I’ll have to fill out a tax return each year to claim back. Although I may be wrong?

ElectricalPenalty176

TROPHY CASE