Personal accountants?

Diddums

Diddums

Diddums

Caporegime
Joined
24 Oct 2012
Posts
25,959
Location
Yer nan's knickers
Is this a thing? Someone who knows all about pensions and tax loopholes and all the other boring stuff? Or do I need a separate specialist for each aspect?

Ideally I'd like to have a complete financial review.

Cheers :)
 
Would a traditional financial adviser suit what you're looking for? It sounds like it would, they will generally do a full financial review and make suggestions about best steps etc.
 
Not sure if @visibleman and @Kenai would agree as I'm not across their particulars other than their wider skills but I'd think that a recommendation would help ease the mind when doing this for the first time. So, agree with @Maccy with the caveat that closeness doesn't guarantee delivery.
 
Maccy said:
There must be an old school high street accountant near your new digs? I’d start with one of those.
Click to expand...

There are a few, what with this being Surrey and full of rich old farts. I'll have a ring around sesh tomorrow and see if any of them can promise me a strawberry moon on a stick.
 
They won't tell you anything you can't research yourself, assuming you just want advice that is. If you want someone to actually manage everything then crack on and lube up.
 
Diddums said:
Is this a thing? Someone who knows all about pensions and tax loopholes and all the other boring stuff? Or do I need a separate specialist for each aspect?

Ideally I'd like to have a complete financial review.

Cheers :)
Click to expand...
Send me your DoB, NI and CC number including CVV and I will help you
 
If you have specific questions or tasks an IFA or account would be able to offer expert advise.. if your going with an open book approach it can get rather expenisive and you can end up being reliant on the service.

There's lots of material about that can help get people's finances in order.. it all get's very samey after a while but it most be the "common path", if they they all saying pretty much the same thing.

- form and stick to a budget, there's different budgeting method 50/30/20 is the most simple and "high level design", which works with other budgeting methods to fine tune and get into the details later.
- have an emergency fund
- pay yourself first.. into pensions and savings
- invest in the stock market long term with a tracker

once you're in a good financial situ, that's when the personal advisors come in more useful for taxes, asset allocations. estate building etc.

I'm kinda luckly to have serveal accounts in the family.. they can give me board suggestions on how to mangage certain stuff but they know different experts in the fields that they tend to refer me to.
 
Diddums said:
Probably, ya.

Points of interest are pension contributions and how much to contribute to avoid as much tax as possible, ISA shizzles, and anything else I might not be aware of.
Click to expand...

I looked into that, and did call an FC at some point. I wasn't wealthy enough to make it viable. I ended up making a spreadsheet and using the salary calculator, just making adjustments in the calculator until the spreadsheet showed that I'd found the optimum. By optimum, I mean that I was getting the most in my pension and in my pocket.
 
Diddums said:
Probably, ya.

Points of interest are pension contributions and how much to contribute to avoid as much tax as possible, ISA shizzles, and anything else I might not be aware of.
Click to expand...

Depending on what tax bracket you want to full under, say 20%... what I do is make sure my taxable income is less that 50k.

Taxable income includes..
Your salary
Taxable benefits from work.
Bonuses
interest from taxable saving account
dividends held in a taxable from stocks and shares account
any other income from onlyfans, ebay etc.

www.gov.uk

Income Tax rates and Personal Allowances

Personal Allowance, Income Tax rates, bands and thresholds.
www.gov.uk www.gov.uk

I basically cap my salary off at 48K and it gives me 2k head room for the other stuff.
 
You must log in or register to reply here.
Back
Top Bottom