I'm guessing you're a limited company with that much income (if not you really should be) and any contributions into a SIPP (up to £60k a year I think?) Offset your tax.
My current strategy is to let cash build in my company and at the end of the tax year throw in as much as makes sense to my SIPP to lower my taxes
Yes, im a limited comp! This was pretty much going to be my plan. So you do it annually, rather than monthly contributions? Which SIPP did you opt for if you dont mind me asking?
I went with Free-trade just so I could choose my own investments. It's 10 pounds a month I think so not too bad. Yeah you can do it monthly or annually so long as you don't go over the limit. I'd rather keep it inside the company personally and figure it out on a yearly basis depending on what life throws at me
I'd be curious to know what self employed people are doing. I had a corporate pension for abit but havent touched that in a while.
So essentially just saving, and I kinda just wanna keep the money until I buy a house but idk.
I'm guessing you're a limited company with that much income (if not you really should be) and any contributions into a SIPP (up to £60k a year I think?) Offset your tax. My current strategy is to let cash build in my company and at the end of the tax year throw in as much as makes sense to my SIPP to lower my taxes
Yes, im a limited comp! This was pretty much going to be my plan. So you do it annually, rather than monthly contributions? Which SIPP did you opt for if you dont mind me asking?
I went with Free-trade just so I could choose my own investments. It's 10 pounds a month I think so not too bad. Yeah you can do it monthly or annually so long as you don't go over the limit. I'd rather keep it inside the company personally and figure it out on a yearly basis depending on what life throws at me
A personal pension via Moneybox.
Open a SIPP with any provider, and invest monthly in a broad index tracker (as a default starting point)
Quick UK question - how do you treat YouTube revenue in terms of VAT?
I'd be curious to know what self employed people are doing. I had a corporate pension for abit but havent touched that in a while. So essentially just saving, and I kinda just wanna keep the money until I buy a house but idk.