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  1. Replies
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    I ve found that as you get older you actually...

    I ve found that as you get older you actually spend more - For me spending on furniture, kitchens, art and travel has massively increased since when I was in my late 20s and I dont see that changing...
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    Chimp master said it well. Even 650 a day outside...

    Chimp master said it well. Even 650 a day outside ir35 no longer buys what it used to and house prices is one example of that

    Reality is 650 a day is now realistically 550 a fat and all inside...
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    The 10k number came from chimp master but it’s...

    The 10k number came from chimp master but it’s immaterial. The question was more general about at what point do you actually stop?

    If you get to your magic number at the age you decide then do...
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    One of the best threads in months. An interesting...

    One of the best threads in months. An interesting twist to the question

    Suppose you had the 10k a month income as chip master states or whatever number you need would you still continue billing...
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    Very helpful thread and it can be summarised as...

    Very helpful thread and it can be summarised as follows:

    1) Once you have your own place mortgage free you need 35K in after tax income

    2) A property portfolio of approx 1MM should be able to...
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    I would also seriously like to know what you need...

    I would also seriously like to know what you need and how much is enough because I think about when to stop a lot more then I used to! That’s why this topic really does interest me

    My initial...
  7. Replies
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    Im sorry to disappoint you but have you really...

    Im sorry to disappoint you but have you really thought this through and in particular whether 35k a year after tax is enough

    I have no idea how much pensioners need these days but as someone in...
  8. Replies
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    I will miss you WordIsBond - Your posts were...

    I will miss you WordIsBond - Your posts were always well thought out and creative. I m happy that you managed to move to the US but can you share a bit more of the story?

    For example how did you...
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    Also worth pointing out that many lenders in 2015...

    Also worth pointing out that many lenders in 2015 i think reduced the maximum income multiple for mortgages over 500K from 5 times to 4 times so reducing the amount of money that can be borrowed -...
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    This topic very much interests me because I have...

    This topic very much interests me because I have been thinking about this retirement thing as well

    I notice chimpmaster you did not answer the question yourself :)

    1. How much money do you...
  11. Replies
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    The mind simply boggles when I read with tears...

    The mind simply boggles when I read with tears what has happened to the Uk contract market. I never in my life thought I would see developer roles at £120 a day inside even it is for a junior (and...
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    50% discount for a hedge fund role? Seriously? ...

    50% discount for a hedge fund role? Seriously? You mean low latency and exchange trading is now no longer 650 but more like 325 in london and presumably inside ir35?

    Goodness gracious me - But...
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    One of the few posts on here where the rate is...

    One of the few posts on here where the rate is reasonable but not great

    Can I conclude that you are working on big data as engineer and in London ?
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    Lavish means childcare live in nanny’s shopping...

    Lavish means childcare live in nanny’s shopping at selfridges private schools and many holidays a year

    100k is middle of middle class affording you one of the above at most

    Finally there are...
  15. Frequency of invoices is not that useful because...

    Frequency of invoices is not that useful because it depends on whether you invoice weekly monthly or quarterly.

    What is interesting is the gross amount billed to end client over what period...
  16. Can I conclude that you are safely OUTSIDE IR35...

    Can I conclude that you are safely OUTSIDE IR35 :) :) :)

    By that I mean same client for 8 years ....
  17. Replies
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    Thanks for sharing numbers chimpmaster - Very...

    Thanks for sharing numbers chimpmaster - Very useful

    Am I allowed to ask what sort of contract rate you used to get and what area of UK you are in to get a better understanding of your anecdotal...
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    I’m with Halifax and always product transfer with...

    I’m with Halifax and always product transfer with them because I no longer meet criteria so in effect a mortgage prisoner

    Halifax intermediary rates are 1.2% 60% ltv 2 year fixed but you still...
  19. Buying property now is foolish Check...

    Buying property now is foolish

    Check chimpmaster and my posts on this subject and you will see that taking money out of business A is the best way to go rather than changing sic code because of...
  20. Many thanks ILiketax - very helpful - And thank...

    Many thanks ILiketax - very helpful - And thank you eek for explaining that income tax to CG has been tried many times - I do realise that but I am in a very blessed position where I can take...
  21. I m more interested in applying reasoning and...

    I m more interested in applying reasoning and logic to come to conclusions you see rather then fanciful thinking

    That is why I gave you an example clearly of a disposal being done for tax...
  22. Im not following you at all I move property...

    Im not following you at all

    I move property from MyName to CompanyA and that is fine because different entities

    I move ownership of shares (by way of sale) of companyA from MyName to CompanyB...
  23. Fair enough - However in my scenario where I sell...

    Fair enough - However in my scenario where I sell CompanyA shares to companyB both stamp duty at 0.5% and CGT are also levied. The only difference is CGT in both jurisdictions is zero and 0.5% is a...
  24. Im keen to understand Ramsay because that could...

    Im keen to understand Ramsay because that could be applied to anything and as I already asked about the well known tax dodge of moving personal property from personal name to Ltd to avoid S24 tax -...
  25. Well in my case the reasoning is simple - If I...

    Well in my case the reasoning is simple - If I take dividends I do not pay UK tax but I do have to pay Swiss tax

    If however it is a CGT then I do not pay UK tax or swiss tax. So if there was a...
  26. I am aware of the cgt consequences. There is no...

    I am aware of the cgt consequences. There is no profit attributable to cgt increase since purchase. It’s the retained profit from years of contracting that is at stake

    I am selling shares held in...
  27. If it was cash I would MVl and close the ltd

    If it was cash I would MVl and close the ltd
  28. Does there really need to be a commercial...

    Does there really need to be a commercial purpose? Might more share capital be the answer

    The reason for doing this is obviously to sell shares held in my personal name to the new company and...
  29. Replies
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    You can do this but you run the risk of the tax...

    You can do this but you run the risk of the tax rules changing as well as admin costs. I wish I had taken advantage of MVL before I left the UK but it depends on retained funds I suppose
  30. I do like zerosums attention to detail and...

    I do like zerosums attention to detail and creativity

    I can tell you what I am thinking as I am in a similar position

    1) Have a large warchest in UK which remains in company as retained profit...
  31. Thank you James brown. This is my understanding...

    Thank you James brown. This is my understanding as well

    Blaster area above indicated that this might not be the case for one man band companies who had worked and retained profits. Do you know if...
  32. Replies
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    If you are out of Uk non resident there is no...

    If you are out of Uk non resident there is no dividend tax to pay to hmrc. I think but I’m not sure about the five year rule for divis. It definitely applies to proprietary cgt (the five year rule)....
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    Also worth pointing out that dividends from your...

    Also worth pointing out that dividends from your uk ltd IS TAX FREE if non uk tax resident meaning if you move away rom UK you can declare a dividend with no further UK tax to pay - Of course local...
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    I am director and shareholder and outside the Uk ...

    I am director and shareholder and outside the Uk

    The ltd also employs one person who manages the company and is basically the contact person (there are some rental income that are collected and...
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    This is correct - The more interesting question...

    This is correct - The more interesting question is whether people are thinking now of moving their assets from personal to Ltd or vice versa for the following two reasons - I am thinking specifically...
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    Impressive how people here patronise posters for...

    Impressive how people here patronise posters for pointing out the rules of the furlough scheme on the somewhat false pretence of upkeeping moral standards.

    I don’t know why I bother highlighting...
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    Yes but still employee of ltd which is Uk based. ...

    Yes but still employee of ltd which is Uk based.

    Do you understand now

    From the hmrc guidance

    your employee has more than one job or other duties
    If your employee has more than one job
    If...
  38. Replies
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    Finding tennants is easy via openrent directly. I...

    Finding tennants is easy via openrent directly. I never use them as agents simply just act as interesting busybodies

    Agents are useful when you come to sell as they can really squeeze the lemon...
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    If someone can point o anything concrete which...

    If someone can point o anything concrete which states you have to have been affected by corona to be furloughed please do share that.

    In fact losing £1 because your stationery costs have gone up...
  40. As eek and NL said it all depends on LTV rather...

    As eek and NL said it all depends on LTV rather then income multiplier although there are affordability calculators which just prove you can pass their criteria

    Rates set exclusively on LTVs
    ...
  41. Replies
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    And would you like to share what this person was...

    And would you like to share what this person was doing? Scrum master for 200K plus benefits or something else ?
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    I do not see this precondition stated anywhere in...

    I do not see this precondition stated anywhere in the guidance - Anyway proving coronavirus had an impact is very wishy washy

    In my case coronavirus had an effect in my ability to build up my...
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    It’s even better then that. 200k plus bonus plus...

    It’s even better then that. 200k plus bonus plus benefits!!! So a 300k package. This is clearly a spoof
  44. Having spent a lot of time on this the answer is...

    Having spent a lot of time on this the answer is you can dispose of your asset CGT free on all the increase up to April 2015 provided you stay out of the UK for a cumulative 5 years as non resident. ...
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    SIPP tax relief is not available to anyone who is...

    SIPP tax relief is not available to anyone who is not UK tax resident - I checked this
    Also BTL rental income is not income for SIPP tax relief purposes

    Two short questions:
    1) Can you pay...
  46. Zerosum I would certainly like to hear more about...

    Zerosum I would certainly like to hear more about how you are going to get cash out of the UK limited when in a different country because that could potentially be an avenue a lot of people choose to...
  47. Replies
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    Subscribe to read | Financial Times...

    Subscribe to read | Financial Times

    Day rates for consultants advising on government projects can reach thousands of pounds per day. Executives at Boston Consulting Group, one of the three...
  48. I for one would like to see this thread...

    I for one would like to see this thread continuing

    I am out of Uk in perm employment and have a ltd in Uk which continues trading in real estate. I extract a salary and dividends from the Uk ltd...
  49. Replies
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    It works if you are on the RTI payroll which is...

    It works if you are on the RTI payroll which is the implementation of contractually obliged payment salary

    Do you have any evidence of LTD directors not being able to qualify for this and your...
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    It has caused inflation in stocks and houses....

    It has caused inflation in stocks and houses. Fortunately those are mot included in the Uk inflation measure. I am serious here

    The pound is down massively against eur and usd but that’s be the...
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