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dwayne_dibbley posted:Sorry, I was stupid, left out two important details. I have a 300k lump sum to invest and so need a standard investor account (no ISA). Try iweb, I think they charge a flat fee of £5 per trade and that’s it, no other platform fees to speak of.
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Jan 10, 2020 21:11
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Pantsmaster Bill posted:My gf is looking to invest some money in a S&S ISA rather than keep it in a savings account. I use Charles Stanley Direct for my investments, but I think the charges have gone up since I opened. iWeb charges £5 per transaction so if she wants a single investment of a single fund it’ll be cheaper than vanguard within a month. If she wants regular investing etc yeah vanguard is better.
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Jan 30, 2020 07:42
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Yeah we were shocked when we realised that nursery costs more than private school. Unlike some of our friends, we didn’t have to pay any nursery fees during lockdown which was great (and the difference for a part time nanny in the interim was considerably less than we used to spend eating and drinking out). Having said that, for the 10 days our nursery has been open, my child has been at home sick for more than half. At 10 days exclusion every time my toddler gets a temperature, nurseries just aren’t viable right now.
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Aug 2, 2020 13:45
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I realise this puts me in line for the guillotine in the other thread but here goes: A few years when we outgrew our 1 bed flat in zone 1, it seemed sensible to borrow a little bit more against it (to afford the next place) and rent it out rather than selling up entirely. Our experience has been pretty good, full occupancy, mostly exemplary tenants, they’ve always been happy with us. However, the change to the tax laws ate 75% of the rental yield, leaving us with roughly £2000 net profit per year, and this costs 10-15 hours of effort. It’s not bad money per se, but we’ve concluded that it’s not worth the effort for us; when the market picks up for 1 bed flats we plan to sell. I suppose if you do it properly; via a limited company etc, then the numbers might work for you, but it isn’t “passive” income by any stretch of the imagination.
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Feb 15, 2021 13:03
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Breath Ray posted:im in a similar position. but where would you put the money from the sale? the goal used to be to move up the ladder to bigger houses but if they replace council tax with annual property tax at 0.5% as has been reported that makes a little less sense We’re keen to move somewhere larger and the rumoured property tax, while annoying, wouldn’t affect our choice. If we weren’t planning to move we’d probably stick the cash in an index fund for relatively similar returns and zero effort. Dakha fucked around with this message at 19:56 on Feb 15, 2021 |
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Feb 15, 2021 19:52
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I think premium bonds are your best bet in the shortish term if you’re able to save all 50k
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Oct 17, 2021 20:24
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If your time horizon is 5 years plus then consider investing the money in stocks and shares (with a risk of losing money over that period). If 10 years plus then s&s is a no brainer. If less than 5 years, cash is safer (though will be outpaced by inflation either way). Plenty of literature on this subject if you’re interested. Smarter Investing by Tim Hale is a good, UK centric, place to start.
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Nov 21, 2022 20:24
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Vanguard is cheapest until you’ve £104k invested, then Interactive Investor (ii.co.uk) is cheaper. Both allow Ltd Company contributions assuming that’s relevant. Both excellent options.
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Jan 23, 2023 16:00
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Rent in London is ridiculous right now. If you have the deposit and plan to stay more than 5 years I’d buy for sure. Less than that and stamp duty starts to really add up though.
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Jun 9, 2023 17:41
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Honestly you probably don’t need an adviser unless you’ve very complicated finances (which it doesn’t sound like you do). Have you seen the UKPF flowchart from Reddit? https://flowchart.ukpersonal.finance/ This should give you everything you need to work on.
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Nov 1, 2023 19:37
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If anyone had a definite answer to that one then they’d be too busy profiting from the info to give a decent answer here. That said it does seem like inflation has slowed and further rises are a lot less likely than they were looking a few months back. My personal guess is that rates will stay flat for some time before dropping slightly, but I probably wouldn’t make a bet on that. If you want to lower your outgoings you could also consider a longer term, eg 34 years assuming you’re under 40, though you will end up paying more in interest in the long run.
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Jan 14, 2024 22:14
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Shelvocke posted:I'm on the look out for some accounting software. I'm switching to fully freelance as opposed to full time PAYE/part time freelance. I also manage the in/outgoings of our furnished holiday let, receive some dividends, and account interest in a taxable account. Xero is by far the best software out there. We use it for our Ltd company (though to be fair our accountants do all the hard stuff…)
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Jan 22, 2024 21:17
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It may be too late if you’re already incorporated but I highly recommend using your accountant’s address (or paying for a specialised service) to keep your home and company address separate. Otherwise various web scraping services will make googling your name return your home address with no real recourse.
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Mar 22, 2024 09:09
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I have a limited company rather than self employed, not sure if that makes a big difference, and at this point I claim for as much as I reasonably can. Laptop is 100% business (and to be fair I do very little outside of business hours on it). Phones are an allowable expense so iPhone + plan on the business. I even tried to put my 1gig home internet through the business, which the accountant said probably wasn’t ok so I also pay for the cheapest possible home plan privately, making it only slightly worth it. YMMV but I’d say it’s all defensible.
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Apr 4, 2024 07:59
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If you’re simply reimbursing for something you bought personally, it’s a case of transferring the money from your business account to your personal one and filing the personal receipt somewhere. That’s an expense repayment. If you need some additional capital in your business to buy stuff before your business is earning money, that’s pretty straightforward, just make a note of it - so long as you’re not charging interest then there’s no real paperwork. If you charge interest then it needs to be market rate, otherwise there are tax implications. Borrowing money from your business is considered a directors loan with lots of rules and potential tax implications. Avoid if you can through there are a few times it can make sense to use one.
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Apr 4, 2024 17:54
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I got income protection insurance once, when I’d just gotten my first mortgage and I’d just switched careers and felt my position was a little more precarious than it had been. Once I’d been in my new job a year I felt confident enough to cancel it. In retrospect I probably didn’t even need that as my spouse could have covered my unemployment, it wouldn’t have been pretty but we wouldn’t have been destitute. Honestly Saros is right here, it’s accounting for low likelihood outcomes that only you can really be the judge of. Mostly consider how precarious your finances are and plan accordingly. Regarding future interest rates, it certainly does seem like they’re likely to fall a little in a few months, but there are all sorts of reasons why that might not happen. Inflation. Gas prices. China economy. Etc. if anyone knows the future they will be too busy profiting from it to give you decent advice here. One thing to remember is the fee for taking out mortgages - £999 for a floating mortgage now and £999 for a slightly better fix in a few months time is only a better deal than fixing now if your mortgage is really large or interest rates move dramatically. Congrats on the new house too. Good luck with all the repairs for things that have absolutely never been an issue while you’ve been renting…
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May 13, 2024 16:05
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If you have dependents or share a mortgage with a partner then life insurance is absolutely not optional - though I think MeinPanzer may have already said that.
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May 13, 2024 19:08
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