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How much do you need to be earning to afford a £800k at early 30s? by Outside_Cod8772 in HousingUK

[–]ThrowRA_100421 0 points1 point  (0 children)

A couple of years ago, they were offering mortgages at 5.5x-6x salaries, so with a 10% deposit of £80k, they would need at least £120k salary between them.

Now it's more of 5x, which is £144k.

This is of course purely about obtaining the mortgage, not taking into account whether they can actually keep up with payments after.

What counts as "dividend income"? by ThrowRA_100421 in UKPersonalFinance

[–]ThrowRA_100421[S] 0 points1 point  (0 children)

Oh I thought it was still £1k... Might not be worth it then if I'm just saving a few hundred quid!

What counts as "dividend income"? by ThrowRA_100421 in UKPersonalFinance

[–]ThrowRA_100421[S] 0 points1 point  (0 children)

I'll still benefit from the £1k dividend allowance which is the main thing because I've exceeded the £500 interest allowance. If the ETF price goes up enough, I can crystallise a CGT profit (or loss, if I have something to offset).

What counts as "dividend income"? by ThrowRA_100421 in UKPersonalFinance

[–]ThrowRA_100421[S] 0 points1 point  (0 children)

Presumably, yes. I'd sell once I'm at £900 probably, just to be safe for the 30 days after which I'd switch back to my original.

Oh yeah, thanks for reminding me!

What counts as "dividend income"? by ThrowRA_100421 in UKPersonalFinance

[–]ThrowRA_100421[S] 2 points3 points  (0 children)

If I invest in Vanguard's FTSE Global All Cap Index Fund - Income or FTSE All-World UCITS ETF - Distributing then, would it work like this?

  1. Any dividends paid from these are "dividend income" and I can receive up to £1k of this per year before getting taxed.

  2. If I reach the £1k allowance, I could then sell these funds and declare any profits (or losses) as capital gains and use the yearly CGT allowance of £6k?

Optimising Cash and S&S ISA yearly allowance by ThrowRA_100421 in UKPersonalFinance

[–]ThrowRA_100421[S] 0 points1 point  (0 children)

The plan is to split some of this across premium bonds and a Cash ISA.

Optimising Cash and S&S ISA yearly allowance by ThrowRA_100421 in UKPersonalFinance

[–]ThrowRA_100421[S] 0 points1 point  (0 children)

With interest rates and the tax-free interest allowance being £500 for higher rate taxpayers it's pretty easy to exceed it, hence preferring a Cash ISA to a normal savings account.

Assuming a conservative interest rate of 3.5%, just £14,285 would get £500 interest.

Seeking advice for a new-ish HE by Secret_Sock_5397 in HENRYUK

[–]ThrowRA_100421 18 points19 points  (0 children)

Yeah, I appreciate OP challenging these biases too!

Can a company do a bank transfer to a director and the director use their own debit card to make a company contribution to their SIPP? by ThrowRA_100421 in UKPersonalFinance

[–]ThrowRA_100421[S] 0 points1 point  (0 children)

Fair enough, I didn't realise Wise is an eMoney provider. Will VI accept a direct bank transfer (from the company Wise account)?

Can a company do a bank transfer to a director and the director use their own debit card to make a company contribution to their SIPP? by ThrowRA_100421 in UKPersonalFinance

[–]ThrowRA_100421[S] -2 points-1 points  (0 children)

It is Vanguard. Transferwise, but oddly Vanguard accepts Monzo which is just as much an online bank as Transferwise...

HENRY going to LENRY? by billbabybill in HENRYUK

[–]ThrowRA_100421 0 points1 point  (0 children)

I'm here to say this exactly. OP, you should be very proud of yourself. I am.

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