Surplus cash

[northernladuk]

5. I didn't want to pay for a second set of accounts.

You don't want to pay a bit of money to get proper advice when investing 10s of thousands of your company money.

Right smart that is...

[kryten22uk]

... you warchest which should be 3 to 6 month at full rate if you are on the bench depending on your appetite for risk.

Why would you set your warchest by reference to your full rate rather than your living expenses? A contractor with a high income low outgo could live for 2 years or more on 6mths full rate.

[northernladuk]

Why would you set your warchest by reference to your full rate rather than your living expenses? A contractor with a high income low outgo could live for 2 years or more on 6mths full rate.

Good point. Yes you would at the beginning but later on why not do it at full rate. You can't get it out efficiently so just let it grow to a level you are comfortable with. Why work your nuts off for years as a contractor and then hit the breadline when you are out of work. Bigger warchest, less stress.

Really depends on where are in your contracting career. There comes a point for most of us where we suddenly flick over from worrying. One gig you are fretting when the end is near and desperately start looking for something else and then then in the next you hit the turning point where you don't really care about the next gig and look forward to a couple of weeks off before looking. Not sure what exactly triggers that change but a healthy warchest is certainly part of it. Probably confidence helps when you've got a couple of years of end to end gigs as well.

[simes]

It is with a sense of masochistic impending doom that I sometime dip into what the northerntrollop has to say, but every now and again, I find myself irrevocably doing just that, knowing full well I will wholeheartedly regret it.

Too often, someone Writes some words, northerntrollop then Reads it as something else, and then, Responds again to something else entirely…

It is difficult to decide how his mind works as anything other than a head full of disconnected ball bearings, all just bashing about aimlessly and causing the random blurted output, All-Of-The-Time, to something he may actually have read elsewhere a half an hour ago. It is unsure whether to feel charitable sorrow for his state, or to consider euthanasia as his (and our) possible way out.

Still, for the benefit of those who may be distracted by his non-point, I have been renting property for the last 19 years and have a very good (read: friendship) with my letting agent. I take my Advice from him, bearing in mind his immediate connection to this market.

As for a business modus operandi, I keep my customers, in this case, tenants, happy to end of contract through communication and quick response to issues.

To reassert the one point that percolated incorrectly through the bovine mass otherwise considered to be northerntrollop’s cognisance, Paying for a separate and second set of accounts for an SPV, as opposed to keeping everything in one LtdCo house with but one set of accounts to pay for, does not equate to Advice.

[northernladuk]

Still, for the benefit of those who may be distracted by his non-point, I have been renting property for the last 19 years and have a very good (read: friendship) with my letting agent. I take my Advice from him, bearing in mind his immediate connection to this market..

Haven't you been letting properties, not renting them?

[WordIsBond]

It is unsure whether to feel charitable sorrow for his state, or to consider euthanasia as his (and our) possible way out.

'Our'? If you propose that the two of you go for euthanasia together, I agree that it is a possible way out (without expressing any personal opinion as to whether what is gained by the transaction would be worth what is lost).

[simes]

'Our'? If you propose that the two of you go for euthanasia together, I agree that it is a possible way out (without expressing any personal opinion as to whether what is gained by the transaction would be worth what is lost).

Laughing loudly. Yes, I missed that inference.

I will leave it to the public to decide the meaning.

[Drei]

Laughing loudly. Yes, I missed that inference.

I will leave it to the public to decide the meaning.

simes, I sent you a PM, if you don't mind replying

Pretty much regarding the property investment, was thinking of this and accountant suggested a 2nd company that deals only with the letting side of things.

[simes]

Sent.

Hope it helps.

[whats]

any way to invest in stocks, I've searched the forum and basically can sense its a no no. Thought I'd ask incase some accountant came up with some clever structure to do it

This got me thinking and I found this How to Invest your Company Profits - Foxy Monkey
I don't want to get into direct property myself. I was hoping moving money into shares could reduce my companies capital tax bill.
Accountant says it just looks like another bank account though (which makes sense).