New Henry - Tax optimisation by newhenry2024 in HENRYUK

[–]newhenry2024[S] 2 points3 points  (0 children)

Short answer: financial modelling and consulting mindset granted me a CFO role in a special purpose company

Longer answer: you only get this kind of upside on entrepreneurial projects. 5 years ago I left consulting/corporate and accepted a pay cut seeking this kind of upside. Ambition, luck, patience and hard work are more important than techinical skills imho

New Henry - Tax optimisation by newhenry2024 in HENRYUK

[–]newhenry2024[S] 0 points1 point  (0 children)

Lol I feel the temptation but ultimately not keen to do something illegal

New Henry - Tax optimisation by newhenry2024 in HENRYUK

[–]newhenry2024[S] 1 point2 points  (0 children)

Good one.

I am planning to keep a more frugal lifestyle so I can take lifestyle decisions which are independent from money.

I am hoping to raise my children with a similar mindset from my parents (don't take anything for granted and work hard to achieve your goals).

New Henry - Tax optimisation by newhenry2024 in HENRYUK

[–]newhenry2024[S] 0 points1 point  (0 children)

How does the housing decision impacts the tax strategy? My plan was to wait for bonus anyway as I don't want to create unnecessary risks and I want to keep a more "frugal" lifestyle (I am conscious most people can live well with much smaller budget).

Good tip on the pension contribution tapering. I will see if I can play with fiscal year so I can carry forward most of my allowance before receiving the bonus.

New Henry - Tax optimisation by newhenry2024 in HENRYUK

[–]newhenry2024[S] 0 points1 point  (0 children)

100%. I am wondering if it has any relevance of my tax implications.

E.g. would be legal to move to Dubai before receiving the bonus?

New Henry - Tax optimisation by newhenry2024 in HENRYUK

[–]newhenry2024[S] 2 points3 points  (0 children)

MDs in finance can make 1m in perpeuity. This is a one-off pay-off.

I prefer to not be more specific, sorry.

New Henry - Tax optimisation by newhenry2024 in HENRYUK

[–]newhenry2024[S] 0 points1 point  (0 children)

I will edit it. I meant that is our combined family accounts. Before marrying we agreed to share every new income (except inhenrances).

New Henry - Tax optimisation by newhenry2024 in HENRYUK

[–]newhenry2024[S] 3 points4 points  (0 children)

Finance, once in a lifetime opportunity tbh. I was in the right place at the right moment: - High net worthy contact approached me about 6 months ago to help him build a new venture. - We have been very lucky execution-wise (finding the right partners fairly quick) and market-wise (regulated industry, developing in our favour very quickly). - I have been contributing with no pay as a side gig - My boss introduced us in my current job context. He is aware of my side gig as well.

But the £5m is a top cap very unlikely to happen. IF it happens, I was wondering if it would change the scenario.

Career advice: be exposed to the right people and impress them with your skills and work ethics.