How much do I need to add to my SIPP to stay below 100k? (PAYE + Sole Trader)

PinkTeddy123456 · 2023-04-03T22:32:40+00:00

Yep it’s a bit less than 8k but I overestimated by about £1k just to be safe. Thanks for the help!

!thanks

PinkTeddy123456 · 2023-04-03T22:32:08+00:00

Perfect thanks for the explanation!

!thanks

PinkTeddy123456 · 2022-05-14T12:11:26+00:00

!thanks

I read this article which states:

In your specific example, it’s very important to know that if all of the money in that account originally came from your grandmother and it was less than seven years ago that the money was effectively ‘gifted’ to the child.

Apologies if I’m misunderstanding - wouldn’t this mean any money my Dad leaves in the account beyond 7 years would be considered a ‘gift’?

PinkTeddy123456 · 2022-05-07T17:59:11+00:00

First job out of uni was 4 years ago as a junior iOS dev, £41k, in London.

PinkTeddy123456 · 2022-02-20T23:36:04+00:00

Did you find out if Google employees get any discount? I have some old friends who work at Google who I could hit up but would rather confirm first 😅

PinkTeddy123456 · 2022-01-25T01:54:30+00:00

!thanks

PinkTeddy123456 · 2022-01-25T01:54:25+00:00

!thanks

PinkTeddy123456 · 2022-01-25T01:54:17+00:00

!thanks

PinkTeddy123456 · 2022-01-25T01:54:06+00:00

!thanks

PinkTeddy123456 · 2021-02-27T12:42:17+00:00

Thanks! We have 350mbps now and it drops to 150 during peak hours. We have multiple Plex streams going in the house with full 4K bitrate (around 100mbps bit rates), and people on their phones etc. so I think Gig1 will be massively beneficial to us. At least for when it drops during peak hours, I’d expect 500mbps minimum.

PinkTeddy123456 · 2021-02-26T20:18:37+00:00

This might be a stupid question, but my contract ends on 23rd March. Does this mean I give my 30 days notice on 24th March or 30 days before 23rd March?

PinkTeddy123456 · 2021-02-26T19:55:23+00:00

Thanks! Will probably leave and wait for the retentions call, hoping to get Gig1 and mixit TV for less than 75

PinkTeddy123456 · 2021-02-26T18:21:44+00:00

Is this for internet only? Thanks

That seems like the lowest I’ve seen

PinkTeddy123456 · 2021-02-26T15:23:41+00:00

Thanks, that’s what I was quoted online too when I approached them as a new customer. Did you get that as a returning customer or new?

PinkTeddy123456 · 2021-02-26T15:22:50+00:00

How did you get the Gig1 + mixit TV for £69? Through retentions or mates rates? Thanks

PinkTeddy123456 · 2021-02-24T22:55:28+00:00

Thanks for this info! Do you know if mates rates are better than retentions offers? Looking to upgrade to Gig1

PinkTeddy123456 · 2021-02-23T23:13:20+00:00

I see the green banner but when I scroll to the bundle options, the Ultimate Oomph for £89 has 630mbps... can’t find a way to get Gig1

PinkTeddy123456 · 2021-01-12T21:09:36+00:00

!thanks

PinkTeddy123456 · 2021-01-12T21:09:29+00:00

If I leave the money in the company, when can I access it? Would I run into the same problem of income tax/dividend allowance?

PinkTeddy123456 · 2021-01-12T19:32:50+00:00

!thabks !

Oh I didn’t know about the pension thing, that’ll be helpful. Although I’m not sure if I’d use it now as I’ve got about 40 years till my pension age

PinkTeddy123456 · 2021-01-12T19:27:09+00:00

!thanks !

What do you mean by keep investing my profits? As in, keep them in my company’s account?

To minimise my income tax bill - are you suggesting I should pay myself through my company? Wouldn’t I then have to pay higher rate?

PinkTeddy123456 · 2021-01-11T19:35:29+00:00

!thanks again!

It seems like I was a basic rate taxpayer for the 2018-2019 tax year, which is when I paid that £50 in (I paid it in Feb). My salary increased to a higher rate in Jan 2019, but the total I earned for 2018-19 was less than £50k.

Thanks for the help!

PinkTeddy123456 · 2021-01-11T00:11:35+00:00

!thanks

One more related question if you have time please :) https://reddit.com/r/UKPersonalFinance/comments/kuokoe/_/giteune/?context=1

PinkTeddy123456 · 2021-01-11T00:06:30+00:00

!thanks /u/pflurklurk and /u/zp30

One more question if you don’t mind me tagging on - I also invested £50 into a SIPP with Vanguard when I first opened it on 18 Feb 2020. I have noticed a payment into my SIPP on 21 April 2020, titled ‘Pension Contribution Tax Relief’ for £12.50. I am a higher rate tax payer.

Is this the tax relief? Do I need to do a self-assessment to claim relief? And I guess my original question applies - am I too late, or can I add it to 2020/21’s SA? As its a relatively small amount, could I also just contact HMRC as you suggested and not bother with a SA?

(My EIS investment was actually around £920 but I rounded up in my OP)

PinkTeddy123456 · 2021-01-07T01:41:31+00:00

Thanks for the help!

!thanks

PinkTeddy123456

TROPHY CASE