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What's next after maxing your S&S ISA and SIPP?

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    What's next after maxing your S&S ISA and SIPP?

    Interested to hear what people do once they top up their SIPP and S&S ISA. At the moment I:

    - Pull full dividends up to the lower rate as soon as the tax year begins
    - Bosch it straight into a S&S ISA
    - Set a small monthly salary to live one
    - Invest company funds into a SIPP

    It leaves me with a personal cash surplus way above an emergency fund and with inflation so high it seems a bit daft. I've thought about opening a GIA or even maybe an SPV for BTLs but so far have opted to just leave a chunk in Chase earning minimal interest.

    In fairness this is more of a personal tax planning question than an accounting one.

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    #2
    Originally posted by BigLadFromBeeston666 View Post
    Interested to hear what people do once they top up their SIPP and S&S ISA. At the moment I:

    - Pull full dividends up to the lower rate as soon as the tax year begins
    - Bosch it straight into a S&S ISA
    - Set a small monthly salary to live one
    - Invest company funds into a SIPP

    It leaves me with a personal cash surplus way above an emergency fund and with inflation so high it seems a bit daft. I've thought about opening a GIA or even maybe an SPV for BTLs but so far have opted to just leave a chunk in Chase earning minimal interest.

    In fairness this is more of a personal tax planning question than an accounting one.

    ​​
    Bring forward unused SIPP contribution allowance going back up to three years. ISA allowances are lost if unused each year. Pension contribution allowance remains usable for three years.

    Going back awhile, I paid £80k into my SIPP for two consecutive years, using previously unused allowance.
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      #3
      Bloody hell, live a little.

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        #4
        So you don't touch the money in the ISA and just live off the salary? I'd agree with ensignia on this one. Don't let the tax tail wag the dog. Enjoy your money a bit.
        'CUK forum personality of 2011 - Winner - Yes really!!!!

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          #5
          Originally posted by northernladuk View Post
          So you don't touch the money in the ISA and just live off the salary? I'd agree with ensignia on this one. Don't let the tax tail wag the dog. Enjoy your money a bit.
          I think they said they live off the salary plus what's left of the dividend threshold after putting 20k into the ISA, so that's ~30k. I'm not clear if the OP is saying they have too much personal cash, business cash, or both though it's quite easy to see that 30k is more than you need to live off if you don't have a mortgage or expensive tastes.

          Having too much money isn't really something to worry about. Stick it in the bank, buy property, get into altruism or a hobby.
          Originally posted by MaryPoppins
          I'd still not breastfeed a nazi
          Originally posted by vetran
          Urine is quite nourishing

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            #6
            Originally posted by d000hg View Post

            Having too much money isn't really something to worry about. Stick it in the bank, buy property, get into altruism or a hobby.
            ...or work less.
            Spend more time doing the things that are important to you, being with the people that are important to you, having a positive impact.

            You don't want to be the richest fool in the graveyard.
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              #7
              If you have some energy and an interest in property, open another Ltd Co (SPV) for investing into BTLs. Your IT Ltd Co can give an open-ended loan to your Property SPV and that can be invested in BTLs.

              It's not difficult but can be time consuming. There is also a risk of the property market facing some quite significant headwinds what with rising interest rates and cost of living impacting tenant affordability.

              Personally I'm not buying property at this time unless I see a 'deal', and I also have cash devaluing in the bank right now

              Comment


                #8
                Also:-

                Get married
                Have kids

                That'll sort your bank balance right out.

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