$300,00 in the bank

[AlfredJPruffock]

Here with a Bag of Crisps beneath the Bough,
A Can of Beer, a Radio - and Thou
Beside me half asleep in Brockwell Park
And Brockwell Park is Paradise enow.

Some Men to everlasting Bliss aspire,
Their lives, Auditions for the heavenly Choir:
Oh, binge on your Credit Card and waive the Rest -
Brave Music of a Distant Drum !

The Material World ...No place for a Gentleman .

AJ Pruffock

[AlfredJPruffock]

And if I don't get infirm or lose my marbles the instant I retire? I'd rather have some money to avoid a cold, dark, lonely and boring existence until I do.

My only consolation would be knowing that my friends in New Labour will be well looked after, following their years of selfless service to the nation.

Aye W

How very public minded of you,I am looking forward to donating my body, after it has expired of course,to New Labours Social research program.

My advice to those who die, declare the pennies on your eyes ..

[ratewhore]

Just out of interest, is this chunk of money being built up inside, or outside the company?

Whats better in terms of tax? I was thinking about building up a lumpsum in the company and then continuing to pay myself a salary for the future, supplemented by a few jobs here and there. But I'm sure there could be a better way...

[eternalnomad]

Just out of interest, is this chunk of money being built up inside, or outside the company?

Whats better in terms of tax? I was thinking about building up a lumpsum in the company and then continuing to pay myself a salary for the future, supplemented by a few jobs here and there. But I'm sure there could be a better way...

Both - the majority (70%) being within the company

[Sergeant Apone]

And if I don't get infirm or lose my marbles the instant I retire? I'd rather have some money to avoid a cold, dark, lonely and boring existence until I do.

Don't worry, wendigo100, the state will support you (unless you have any dough salted away, in which case you were clearly an evil, greedy, middle class scumbag and can f.o.a.d.).

You may think this absurd, but this is what the state is encouraging people to think with its current policies.

[ChimpMaster]

Both - the majority (70%) being within the company

I'm in a similar situation with the 70/30 split.

I take out/pay myself below the 40% threshold and the bulk remains in the Co. I was thinking that maybe it would be best to keep it there and use it to finance my "downtime" or even my retirement.

There is the risk however, that the Government may change taxation laws on funds held in the company. There's also the problem of IR35, which may or many not apply, once HMRC decide what IR35 actually is. Furthermore, it is somewhat painful to have the bulk of my hard earned money where I cannot spend it.

It would be nice to have it in my personal account where I could fund alternative investments, or just buy that flash car I always wanted!

T

[Sergeant Apone]

I try to leave the money in the company coffers until I need it as well. This is mainly because it keeps it out of the hands of Mrs Sergeant Apone, who would only otherwise spend it on tulipe.