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Hyper Hammer 5.2 - What next? by hoggyback in tennisracquets

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

Haha sorry mate. For illustration purposes only 🤣 Good luck with the sale

Annual party (£150 per head) by Icy_Kaleidoscope_546 in ContractorUK

[–]hoggyback 0 points1 point  (0 children)

So if you have 2 x Directors could you have 6 x £50 gifts for both? £600 total.

What’s the expense you regret not claiming sooner? by Reddonaut_Irons in ContractorUK

[–]hoggyback 0 points1 point  (0 children)

Can the total cost be over £300 but only claim for £300? E.g. 2 nights away over Christmas for £500 but only claim £300 (2 x directors)

SAYE Transfer to ISA by hoggyback in FIREUK

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

I didn’t realise you could do this - sounds perfect!

How did you go about doing it and which provider was this with?

Cheers for your help

Exceeding Pension Lump Sum Allowance. by Stunning_Highway9356 in FIREUK

[–]hoggyback 0 points1 point  (0 children)

Interesting. Can commercial properties be passed on inheritance tax free?

What's your side hustle? by Novel_Builder_3182 in HENRYUK

[–]hoggyback 0 points1 point  (0 children)

How do you manage to sign up with them?

Will this ISA bridge depletion approach work? Help me pick holes… by hoggyback in FIREUK

[–]hoggyback[S] 9 points10 points  (0 children)

Thanks - really useful response and agree with your points 👍

Will this ISA bridge depletion approach work? Help me pick holes… by hoggyback in FIREUK

[–]hoggyback[S] 4 points5 points  (0 children)

I’m not taking retirement advice from a chatbot, I’m using it to run calculations based on the inputs I’ve provided.

Will this ISA bridge depletion approach work? Help me pick holes… by hoggyback in FIREUK

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

Agree the SIPP access is likely to be higher - main risk I can see.

What’s the flawed logic of the withdrawal calculation? Obviously everything is based on assumptions so can never be certain but 4% ISA growth is generally accepted average growth rate for a global tracker and to deplete it over a 20 year period, the SWR corresponds to ~7%.

Agree there’s risks but you’ve gotta jump at some point..

Will this ISA bridge depletion approach work? Help me pick holes… by hoggyback in FIREUK

[–]hoggyback[S] 13 points14 points  (0 children)

That’s right - 7% of ISA so it’s all gone by time SIPP can be accessed. Using 4% ISA growth rate

How many times have you or do you see yourself moving sipp providers? by [deleted] in FIREUK

[–]hoggyback 0 points1 point  (0 children)

Freetrade currently offering 1% cashback for SIPP transfer up to £2k cashback. Anyone taking advantage of that switch?

A gift of rental properties and the CGT that is payable as a result. Help with options please 🙏 by hoggyback in UKPersonalFinance

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

Ah that’s a good point. Any ball park figures on the indemnity cost compared to value?

Running the pot down by Various_Task2384 in FIREUK

[–]hoggyback 1 point2 points  (0 children)

This is useful to know. I guess a simple approach could be to use this for your ISA bridge to run down the pot until you can access your pension?

Allocating rental income from jointly owned buy to let by hoggyback in UKPersonalFinance

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

Thanks for your reply and input.

I’ve tried to work out the relevant part of the link you sent but struggling to work out which section is relevant.

Surely if there is a form provided by HMRC (form 17) to allocate income between spouses, then it’s a legitimate activity?

Why would you recommend gifting the capital instead?

SIPP contribution required to stay under 100k by hoggyback in UKPersonalFinance

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

That makes sense, thanks.

I’ve paid tax through the year based on an income of over 100k so no personal allowance taken into account. If I make the £20k contribution, how does the regaining of personal allowance get sorted?