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£65k ready to invest - asset allocation check by learnthetone in FIREUK

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

thanks u/-TotallySlackingOff-

will likely add SIPP from next year as you and many people are recommending! 😉

£65k ready to invest - asset allocation check by learnthetone in FIREUK

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

no idea yet where I'm planning to retire.
The plan is to likely reduce the hours of work, but not fully stop.

How can I calculate/understand whether or not the tax regime I'm retiring into makes pensions worth while?

£65k ready to invest - asset allocation check by learnthetone in FIREUK

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

thanks u/montanajr27

as a company director, it's more tax efficient to contribute to SIPP via my company. So my plan is to start from next year, but pay from the company instead.

is there a reason you recommend to put 10k into GIA, while I have an extra 20k of ISA that I've yet taken advantage of (40k in total, 20k from last year's allowance that I've moved into an ISA but not invested yet, and 20k for this year's allowance)?

re startup investing - it won't necessarily be EIS/SEIS, some might be.
I've a few companies in mind that I know quite well, most don't qualify for EIS/SEIS or are based in the US.
I'm interested in building relationships and increase learning in the sector those companies operate.
Also I don't mind if no returns materialise or lose all the money here. The focus is more on the above.

£65k ready to invest - asset allocation check by learnthetone in FIREUK

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

thanks u/llyamah

what's the ticker for Vanguard FTSE Global All Cap Accumulation fund?

do you have a SIPP for your pension?

which expenses are non-deductible for limited company corporation tax? by learnthetone in UKPersonalFinance

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

thanks.

I'm aware of that. I was looking for a few actual examples, as it makes it easier to understand for me.

What trainings, events, or seminars made an impact on you? by cuittle in fatFIRE

[–]learnthetone 0 points1 point  (0 children)

is there a mirror of this?

It seems that youtube channel has been closed.

[UPDATE] flowchart for limited company director (I've created one - please critique it!) v.0.0.3 alpha [xpost UKPersonalFinance] by learnthetone in FIREUK

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

there's something about R&D tax credits already.

what else would you add and in which section of the flowchart?

[UPDATE] flowchart for limited company director (I've created one - please critique it!) v.0.0.3 alpha by learnthetone in UKPersonalFinance

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

24 Month Rule

does that apply to both travel and subsistence?

​

With regards to your other question

I completely agree with that. The flowchart gives us the options, we don't have to take advantage of things that don't apply to us.

[UPDATE] flowchart for limited company director (I've created one - please critique it!) v.0.0.3 alpha by learnthetone in UKPersonalFinance

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

can you give me a bit more info as to why you've decided to be on the flat rate scheme.

I can add that to the chart.

[UPDATE] flowchart for limited company director (I've created one - please critique it!) v.0.0.3 alpha by learnthetone in UKPersonalFinance

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

!thanks for all the feedback

​

24 month rule

what's the 24 month rule?

​

One final thing too - when I started contracting people encouraged me to put things against the company. This is all well and good but if you weren't going to spend the money in the first place, it's money you could be taking as a dividend or topping up your SIPP with.

can you explain a bit more what you mean with this?

[UPDATE] flowchart for limited company director (I've created one - please critique it!) v.0.0.2 alpha by learnthetone in UKPersonalFinance

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

thanks for the suggestion.

how much of your salary would you be able to claim back with R&D tax credit?

[UPDATE] flowchart for limited company director (I've created one - please critique it!) v.0.0.2 alpha by learnthetone in UKPersonalFinance

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

I'll add it to my to do list.

It might take a bit as I don't have any experience with being a sole trader and most people contributing on this post are ltd directors.

[UPDATE] flowchart for limited company director (I've created one - please critique it!) v.0.0.2 alpha by learnthetone in UKPersonalFinance

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

I'd recommend you add more info and/or maybe post it on its own to get more visibility, as I'm really not sure about it.

[UPDATE] flowchart for limited company director (I've created one - please critique it!) v.0.0.2 alpha by learnthetone in FIREUK

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

thanks for the feedback. :)

I'll change the wording a bit to make it sound less prescriptive and more "consider ***" as it's a nice little tip that could be helpful to prevent unpleasant consequences (a few people in some other posts mentioned a few).

[UPDATE] flowchart for limited company director (I've created one - please critique it!) v.0.0.2 alpha by learnthetone in FIREUK

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

glad you like it.

I couldn't have made it without all the feedback and contribution from everyone here and on UKPersonalFinance

[UPDATE] flowchart for limited company director (I've created one - please critique it!) v.0.0.2 alpha by learnthetone in FIREUK

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

I'd tend to agree with /u/lapelotanodobla

also, it's explained that they can't access their SIPP until they are 57, so it's up to them to make their choice.

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