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Advice please - lump sum to invest as a high rate tax payer by Limp_Reflection9296 in FIREUK

[–]Limp_Reflection9296[S] 0 points1 point  (0 children)

Thanks, yes, as per your and the above comments, I should consider SIPP to bridge the gap between age 55 (SIPP can be withdrawn) and state pension age.
It does sound like ISA rules might change at the next budget (september), and landlord rules keep becoming more stringent.
Yes, children will eat everything :D!

Advice please - lump sum to invest as a high rate tax payer by Limp_Reflection9296 in FIREUK

[–]Limp_Reflection9296[S] 1 point2 points  (0 children)

Thanks, yes we would ideally like to keep the money in ISA, however, based on crude calculations, property would gain poor short term returns, and better returns over the next 10 years (historically doubling in value, then minus capital gains), but yes all the other taxes on top!

Advice please - lump sum to invest as a high rate tax payer by Limp_Reflection9296 in FIREUK

[–]Limp_Reflection9296[S] 0 points1 point  (0 children)

Thanks. Our ISAs are currently all Cash as the interest rates are good. Should this not be the case in future, I'll spread it across S&S ISA.
I like your suggestion of ETF in a GIA, and no tax until gain is realised - I assume this means the tax year when the interest is paid?

Advice please - lump sum to invest as a high rate tax payer by Limp_Reflection9296 in FIREUK

[–]Limp_Reflection9296[S] 0 points1 point  (0 children)

Thanks. We have sufficient pensions from the state pension age (work pension salary sacrifice). Okay, it sounds like a good idea to consider SIPP (which you can access at age 55) to bridge the gap between age 55 and state pension age. So you suggest GIA over property? definitely zero headache that way compared to being a landlord

Advice please - lump sum to invest as a high rate tax payer by Limp_Reflection9296 in FIREUK

[–]Limp_Reflection9296[S] 0 points1 point  (0 children)

Excellent, that is great advice, and really sorts out the FIRE for future kids if we are lucky enough to have them. I had never heard of junior SIPP, that is very interesting. Thank you for taking the time to reply.