earning over £100k - contribute to pension or ISA

Reduce tax

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Person earning over £100k. Raise pension contribution or invest in ISA's

Replies (17)

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By Tax Dragon
07th Jan 2024 08:32

Mutually exclusive?

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By williams lester accountants
07th Jan 2024 09:30

Probably a lot depends on whether they need access to those funds in the short or longer term. How close retirement is and a whole host of other pertinent questions which only the client and accountant will know the answers to!

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By David Ex
07th Jan 2024 11:05

So the forum has come to this.

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Replying to David Ex:
VAT
By Jason Croke
07th Jan 2024 11:42

David Ex wrote:

So the forum has come to this.


It's January, open season for free advice because, you know, 'my accountant is busy doing tax returns until end of Jan and I really need to make life changing decisions right now/at the weekend". ;)
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Replying to Jason Croke:
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By Leywood
07th Jan 2024 12:08

They think we believe they have accountants?!!

ROFL.

This place will be littered with more freeloaders than usual for the next few weeks. Some will even claim to be ‘accountantists’

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By kim.shaw-and-co.com
07th Jan 2024 11:41

I blame the media !

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Replying to kim.shaw-and-co.com:
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By kim.shaw-and-co.com
07th Jan 2024 11:42

...

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RLI
By lionofludesch
07th Jan 2024 11:50

It depends.

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DougScott
By Dougscott
07th Jan 2024 12:20

Cor, strike a light, I am not authorised to give investment advice, sorry.

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By FactChecker
07th Jan 2024 16:25

Yes
... now what was the question?

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By Truthsayer
07th Jan 2024 17:39

The last time you asked a question it really went down a rabbit hole, so I will not suggest you supply more information. I suggest you get an accountant instead.

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stonks
By WinterDragon
09th Jan 2024 11:57

The best investment advice I can give you is to invest in a financial advisor

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Replying to WinterDragon:
paddle steamer
By DJKL
09th Jan 2024 12:09

The best advice I can give is don't bother with an IFA, instead spend a year or so haunting the Lemon Fool boards and teach yourself how to invest.

(I did similar pre widespread internet forums with an Investors Chronicle book and buying the monthly magazine)

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Replying to DJKL:
stonks
By WinterDragon
09th Jan 2024 20:28

I just looked up the lemon fool and it looks a bit old school for me. I did my reading on the r/ukpersonalfinance subreddit and picked up the investment bit by James Shack on youtube. I personally wouldn't bother with an IFA as high fees can eat into the compounding effect - especially when I'm rather early into my investment journey.
As for those who want life's answers handed to them on a plate, they are best off speaking to an IFA and paying for it!

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Replying to WinterDragon:
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By FactChecker
09th Jan 2024 22:17

When "life's answers are handed to (you) on a plate", you may well find that they're not answers applicable to your life ... just plausible answers for the life someone else thinks you should have been living!
[Equally applicable to many 'professional' advisers - but IFAs are definitely up there on the winners' podium.]

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Replying to WinterDragon:
paddle steamer
By DJKL
10th Jan 2024 10:02

I am old school- I think I may at 63 be one of the younger posters on Lemon Fool , there are on there some pretty sharp investors and ex city professionals so I do haunt some of the investment boards and read with care items by certain posters. (used to follow threads on ADVFN but its posts were like white noise)

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By Mr_awol
10th Jan 2024 09:05

Depends how much over £100k they are earning, how much they have already (had) put into their pensions in the current/previous years, and how much they can afford to/are willing to invest - amongst other factors.

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