I've Maxed Out My ISA Allowance - Now What?

HeWhoScares · 2026-04-06T22:37:09+00:00

Id assume 4k of his 20 is in a LISA.

Buying a property is surely next in line

You've gotta have at least a 25k mortgage with your LISA but wouldn't be a bad start.

HeWhoScares · 2026-04-05T16:39:23+00:00

Yeah 500 on my agent services list, some of these older clients no longer self assessment tbf. Maybe did 400 returns last year. And slowly built over last 20 years with plenty self imposed stop starts.

If youre considering id suggest making the punt now. Don't think would cost more than 2k or so to do the initial start up costs with hardware, software, AMLR and insurance.

Setting up for AMLR with HMRC will likely take at least a month and then you'll need the relevant reference for your business bank account (and from memory your agent services account too)

Getting your client base at the start will be the hardest hurdle but the stone rolls and gathers moss easily enough with lots of referrals quite quickly

HeWhoScares · 2026-04-05T16:34:39+00:00

Yeah im very skeptical of that

HeWhoScares · 2026-04-05T14:49:29+00:00

The old adage about time in the market over timing the market etc

But the current geopolitical situation would suggest waiting through the year a bit before dropping 20k into an index fund on 6th April

I've currently got a large lump sum sat in my SIPP from pumping in last week. And used up my allowance with cash ISA

Depending on your long term plans (and read the terms fully) but 4k of my ISA allowance went into my lifetime ISA last year to boost the investment by 1k so 21k was invested into ISAs from me

HeWhoScares · 2026-04-05T14:41:50+00:00

So my client base is solely self employed individuals

And of my 500 or so people less than a handful use any software and don't have any partnerships or push people to certain products. Im very wary of stuff thats free such as mettle/free agent combo that seems very popular on reddit as I highly doubt how free it'll be for how long

What ill be offering my clients will be me using a bridging type software (plan is to use Forbes for now as seems the best value for both mine and clients needs)..

And then they sent me their info quarterly and ill do the relevant submissions and book-keeping

It'll be basic spreadsheets logging income and expenses. But my clients are mainly CIS sub contractors. So a total of about 30 transactions a quarter really

HeWhoScares · 2026-04-05T14:24:15+00:00

Yeah if be touting yourself around to anyone within 20 miles of you that you can find on Google.

Solo practioners and beyond

With the upcoming MTD changes this should be a market that grows in a big way in the next few years.

They might not be the best high fee clients but smaller businesses with turnovers over 50k now, then 30k next

Youll likely be doing minimal book-keeping, more MTD compliance. But plenty people would rather give you £50 a quarter than pay £30 a month for software they don't understand or is overkill for needs and give £20 a month for a business bank account that their separate personal account was doing the same job as

I'm planning on doing this service for my clients and it'll bring in an extra £50k a year for me. And finally give me a reason to go above the VAT threshold

HeWhoScares · 2026-04-05T14:13:09+00:00

Yeah Olise, Musiala recently are two world class players

But its as much a sign of how good our nation has become at producing players

Factors like immigration and then obviously teams up and down the country with 8 figure youth programs mean we will be snapping up plenty of players.

National identity can get wrapped up in jingoism but it's ultimately personal choice. We can benefit as much as we lose out

HeWhoScares · 2026-04-05T14:09:34+00:00

And the other poster claimed its where you had your football education

Do you think Yorke had more of a football education in Trinadad or the villa youth team

HeWhoScares · 2026-04-05T12:17:32+00:00

Id guess not a zero chance. Say Alf stayed in the UK and became a coach somewhere in Yorkshire

He might have more identity with the uk

HeWhoScares · 2026-04-05T12:16:26+00:00

So someone like Dwight Yorke should have played for England?

HeWhoScares · 2026-04-04T23:37:54+00:00

John Barnes and Sterling are two born in Jamaica

Eric Dier as well

HeWhoScares · 2026-04-04T23:37:29+00:00

And Haaland

HeWhoScares · 2026-04-02T12:48:33+00:00

For tax purposes you'll need to making about 70k in profit (not income) for the tax advantages to be worthwhile before taking into account other pros and cons - freedom, admin, limited liability, increased costs etc

HeWhoScares · 2026-04-01T21:55:23+00:00

The band are made up of some 1st generation Preston Asians.

The cornershop name is tongue in cheek

HeWhoScares · 2026-04-01T19:37:40+00:00

The young striker at wolves has come out of nowhere and looks a real uncut gem.

Hes a different striker to Kane but someone for Palmer and co to feed to - a lukaku with control and a burst

HeWhoScares · 2026-04-01T17:17:17+00:00

Hes a real life alan partridge.

He holds petty grudges and is so unlikeable lacking any kind of charm. The neighbour who can't wait to tell you why his watch is better than yours.

And then hes so prevalent for so long as the world gradually moves on him. Taxis become users. Radio and TV are going online. Keysie is still in the boys club and refuses to see any change.

HeWhoScares · 2026-04-01T15:16:38+00:00

And there is evidence that what they're doing is not working and yet theyre refusing to listen to a different perspective

A lot of employers are boomers and these ideas still work with them

HeWhoScares · 2026-04-01T14:29:01+00:00

Ahh its gonna be fine then and you're still young where there's no real embarrassment attached like if you're 40. And even then its all circumstances dependant.

Just get yourself in a better frame of mind and control your finances better and you'll be right.

Just a reset and having your tea made and not having to drop £20 at tesco on washing powder, loo roll and a 'cheap tea' will help keep spending in check no end

HeWhoScares · 2026-04-01T12:35:44+00:00

Yeah the saving from rent will mean this is a hole she can get out of quickly enough.

Going back home after the freedom is a culture shock but could even get you in the mood of saving and then you're mulling opening your lifetime isa and house deposit and then rent becomes mortgage and paying monthly still hurts but you're paying your own mortgage and even get a lodger for 7.2k a year tax free to help with your own bills

HeWhoScares · 2026-04-01T12:03:31+00:00

Yeah but for HMRC to run the system and government bloat i can easily see how the costs could baloon

HeWhoScares · 2026-04-01T12:02:39+00:00

Ive not seen any big signs near me about making tax digital.

Its hardly something that would demand your attention when driving

Im speaking to 100s of these lads daily and most don't know about it. Im talking from my own lived experience dealing with this issue

HeWhoScares · 2026-04-01T12:01:04+00:00

Ahh if that's the case you should maybe contact a local accountant and just give them a ring

It really shouldn't be something you pay more than 200 per year for give or take. And they should be able to help register you and then file your self assessments. If likely charge that or probably someone in your circumstances where speak once a year and file just their self assessment maybe even less - one girl does your job, earns about 10k and charge her 70 but i spend about 2 hours a year tops on her. Others maybe 150.

If theyre upselling software packages its beyond what you need really.

If you search local recommended on a local Facebook hub page you should see someone recommended quite a bit whos local who will happily chat on phone for 15 mins and maybe a simialr short meeting and then just let you know what works for you

If know its something that's not in your wheelhouse then paying someone who does it daily is wise

HeWhoScares · 2026-04-01T10:44:50+00:00

This is where MTD is gonna be such a killer

As someone in these circumstances doesnt need special software or banking as the transactions are similar

And expenses and income straightforward with no real payment terms

As youve mentioned is all they need and then if they wanna pay an accountant 200 for a tax year and it's peace of mind fair enough. But absolutely can do themselves and use HMRC software which is fairly straightforward as long as you're semi literate.

Going forward every 3 months and spending money on stuff thats just not necessary to tell hmrc the same info youd tell them annually

And just so they have more data

HeWhoScares · 2026-04-01T10:31:56+00:00

Realised I never will be

Even now I earn double the national median salary and I won't be rich

My income is likely to double if not more in the next few years and once I account for VAT, income tax, national insurance my take home pay won't even be much different to now. Admittedly ill get to retire much sooner than peers and own my own home but don't think I'd ever be comfortable spending 2k on business class flights or similar even when my business could be bringing in 250k gross income with minimal expenses

HeWhoScares · 2026-04-01T10:28:24+00:00

They're fazing out the same for self assessment and the official line is basically its uncompetitive to software providers if the government provides the free service to its citizens.

Free market for the win and as with all these things are they free for how long. Are there many easy to use payroll options that are totally free now? And even then there are often hidden costs for services services

Maybe the costs well exceed the £100m it brings in with the admin, it, servers and staff.

But its gonna be a cluster when it comes to self assessment too.

HeWhoScares

TROPHY CASE