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[tunnie]

Perhaps I'm old school but other than my house, and a Yamaha RD250 I owned when dinosaurs still roamed the earth, nothing has been mortgaged, rented, leased, HP'd or PCP'ed.

I'm not sure I like the idea of 'renting' a car for 3 or 4 years then handing it back and starting all over again.

Perhaps I'm wrong.

The tax system encourages it 

Above a certain threshold, 100% of my hard earned....... well earned at least dosh, goes into my pension. It will of course be taxed on the way out, later when I retire, but currently 100% goes in.

My alternative is 40% goes in my pocket and 60% on paying others so they don't have to work. 

As pointed about above it's a combination of things, to ensure I get the most out of it.

It's quite possible I will soon hit another limit, a cap on pension contributions. So, do I go EV, do I take the money.

At the moment, the EV does look the more tempting option, I sacrifice some more dosh to keep more of it, but as you say I am renting it.

It's actually a very strange system, as the more you earn, the cheaper the cars become.

[STEMO]

Perhaps I'm old school but other than my house, and a Yamaha RD250 I owned when dinosaurs still roamed the earth, nothing has been mortgaged, rented, leased, HP'd or PCP'ed.

I'm not sure I like the idea of 'renting' a car for 3 or 4 years then handing it back and starting all over again.

Perhaps I'm wrong.

The tax system encourages it 

Above a certain threshold, 100% of my hard earned....... well earned at least dosh, goes into my pension. It will of course be taxed on the way out, later when I retire, but currently 100% goes in.

My alternative is 40% goes in my pocket and 60% on paying others so they don't have to work. 

As pointed about above it's a combination of things, to ensure I get the most out of it.

It's quite possible I will soon hit another limit, a cap on pension contributions. So, do I go EV, do I take the money.

At the moment, the EV does look the more tempting option, I sacrifice some more dosh to keep more of it, but as you say I am renting it.

It's actually a very strange system, as the more you earn, the cheaper the cars become.

That threshold, I take it, is £99,999.

[tunnie]

Yes, or as close as I can get it playing with % of pension contributions.

The fiscal drag and not raising it based on inflation has affected us quite a bit.

[STEMO]

My missus will tip over the ridiculous 60% tax threshold this year. But the 12% that goes into her pension will ,keep the taxman at bay for a while.

[tunnie]

My missus will tip over the ridiculous 60% tax threshold this year. But the 12% that goes into her pension will ,keep the taxman at bay for a while.

One thing to bear in mind, which I did not realise until recently, is that employer pension contributions are included in the cap limit.

It's punishing the single earner, it's a pi$$ take. The silver cloud is that it's forced me to put more into my pension, which is always a good thing.

[STEMO]

My missus will tip over the ridiculous 60% tax threshold this year. But the 12% that goes into her pension will ,keep the taxman at bay for a while.

One thing to bear in mind, which I did not realise until recently, is that employer pension contributions are included in the cap limit.

It's punishing the single earner, it's a pi$$ take. The silver cloud is that it's forced me to put more into my pension, which is always a good thing.

What's the cap now. £60,000?

[STEMO]

Yes it is, just checked. She won't touch that with her 12% and employers 24%.

[tunnie]

Yes it is, just checked. She won't touch that with her 12% and employers 24%.

Yeah, half expecting Rachel from Accounts to lower it in the next budget as well. 

Employers 24% 

[STEMO]

But you'd better watch out this government doesn't reintroduce the LTA.

[STEMO]

Yes it is, just checked. She won't touch that with her 12% and employers 24%.

Yeah, half expecting Rachel from Accounts to lower it in the next budget as well. 

Employers 24% 

Public sector

[tunnie]

But you'd better watch out this government doesn't reintroduce the LTA.

I thought they already had, 1 million? 

Just seen it was abolished. But for how long and when do they U turn that! 

[STEMO]

But you'd better watch out this government doesn't reintroduce the LTA.

I thought they already had, 1 million? 

Not yet. At your age, you could easily exceed that.

[tunnie]

But you'd better watch out this government doesn't reintroduce the LTA.

I thought they already had, 1 million? 

Not yet. At your age, you could easily exceed that.

Very easily, current calculator I use via the work provider, puts mine at 1.5 to 1.7.

[STEMO]

But you'd better watch out this government doesn't reintroduce the LTA.

I thought they already had, 1 million? 

Not yet. At your age, you could easily exceed that.

Very easily, current calculator I use via the work provider, puts mine at 1.5 to 1.7.

You'll need to employ a very clever accountant, or retire at 55 like hospital consultants do. This is why the Tory government abolished the limit, not enough consultants. If Labour reintroduce it, they'll have to have a special get out for consultants, which will miff other public sector workers and......STRIKE!! 

[tunnie]

But you'd better watch out this government doesn't reintroduce the LTA.

I thought they already had, 1 million? 

Not yet. At your age, you could easily exceed that.

Very easily, current calculator I use via the work provider, puts mine at 1.5 to 1.7.

You'll need to employ a very clever accountant, or retire at 55 like hospital consultants do. This is why the Tory government abolished the limit, not enough consultants. If Labour reintroduce it, they'll have to have a special get out for consultants, which will miff other public sector workers and......STRIKE!! 

 

I have the retirement calculator set for 60, as that's my current aim. Suspect by the time I get there though it will not be an option, have to be 55 currently to access the work pension, it's raising to 57 in 2028.