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  1. #1

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    LondonPM1 doesn't make much sense


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    Quote Originally Posted by anim View Post
    Thanks for that. I might ping you for the acctnt details.

    I have been looking at many different options - LTD or personal (including life rents), hybrid. While I am still crystallizing ideas and approaches I wanted to see what the clever folk are doing.
    So any more details on how you did it are appreciated. If you dont like to post here, PM would work.

    Generally for the property I own, I will not pay CGT because it is < 12300 increase in the price. Only SDLT by the LTD.





    One question: do you need SPV or LTD will do? Is is in relation of BTL mortgage?



    Why would you pay er to take money out of your company and then set up a new one. Why not just rebrand the company and change its sic coding and invest the money it has??

  2. #2

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    Quote Originally Posted by LondonPM1 View Post
    Why would you pay er to take money out of your company and then set up a new one. Why not just rebrand the company and change its sic coding and invest the money it has??
    Ask your accountant - because it's already been explained above (and you really don't want to screw this up).
    Last edited by eek; 22nd September 2020 at 08:18.
    merely at clientco for the entertainment

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    Quote Originally Posted by LondonPM1 View Post
    Why would you pay er to take money out of your company and then set up a new one. Why not just rebrand the company and change its sic coding and invest the money it has??
    So many questions, so little time.

    ER is by far the best legally acceptable tax efficient manner in which you can get funds to you personally. So, assuming you have significant retained profits in the IT company when you quit the business, you liquidate, pay ER and have the funds in your personal account. You then loan the same funds into the SPV to buy property. SPV then owes you money that will take years to pay back.

    So what's happened here? You've created an income stream that will be income-tax free for years/decades. You've already paid tax on it - CGT with ER.

    If ER wasn't available, then yes you would just rebrand the company and use the funds in there to purchase income generating assets. But then any extraction of funds will cost you the usual dividend/salary tax.

    I'm happy to help but I'm strapped for time. I'll hold a seminar if you guys have enough numbers to drum up a suitable fee for my time.

  4. #4

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    LondonPM1 doesn't make much sense


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    Quote Originally Posted by GigiBronz View Post
    most of the recruiters I've spoken to either say the role is remote and are expecting for you to take a big cut for that or expect you not to ask too many questions and be comfortable with "wfh for now", on site soon.
    So I say 55k is base for remote role, for on-site central London 75k base.

    What I think there is a backdoor push by big corporate not to make people comfortable with wfh, hence the silent approach.

    I've had 2 companies expecting to pay "up to 40k" for mid level python/generalist engineer. one big consultancy central London with same whoosh whoosh "remote for now" policy.
    I'd rather pick strawberries or be another benefit scrounger than get burned out in one of those tulipholes.
    40k for a mid level (you mean ten years experience?) in London for a consultancy ??

    Are you for real

  5. #5

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    LondonPM1 doesn't make much sense


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    Quote Originally Posted by anim View Post
    Depending on the fee amount I might be up for it. Please suggest.

    Why new company? One of the main reasons for most of us is going in-IR35/umbrella for the same client. In the current climate very few here will turn down offer to go inIR35 for the same client for, say, £6000/m in your pocket.

    You dont want to risk HMRC investigation of your SPV-turned IT LTD.
    I’d be interested but for no fee. If a fee involved I don’t think I can do it. If it’s a dial in for qanda and sharing knowledge I’d love to be part of it

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    Quote Originally Posted by LondonPM1 View Post
    I’d be interested but for no fee. If a fee involved I don’t think I can do it. If it’s a dial in for qanda and sharing knowledge I’d love to be part of it
    Can’t you afford a fee to pay for it?
    I mean, it would be an honest business expense.
    I'm perfect, in a very specific and limited way.
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    Quote Originally Posted by WTFH View Post
    Can’t you afford a fee to pay for it?
    I mean, it would be an honest business expense.
    You would have thought he could easily afford it given all the hassle he has with his £75k of passive income...
    merely at clientco for the entertainment

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    LondonPM1 doesn't make much sense


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    Quote Originally Posted by WTFH View Post
    Can’t you afford a fee to pay for it?
    I mean, it would be an honest business expense.
    These are ten a penny on YouTube. It’s all below market value no deposit down nonsense

    I don’t want to get involved in paid advice. Unless of course the provider is going to provide indemnity insurance and guarantee my return

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    Quote Originally Posted by LondonPM1 View Post
    Is that the way consultancies are going now? PAYE contract? I m not even sure I know what that actually means
    yes, it's the consultancies' response to all the banks who said they wouldn't work anymore with ltd contractors.

  10. #10

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    Quote Originally Posted by LondonPM1 View Post
    These are ten a penny on YouTube. It’s all below market value no deposit down nonsense

    I don’t want to get involved in paid advice. Unless of course the provider is going to provide indemnity insurance and guarantee my return
    FOLPM1
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