Personal accountants?
- Thread starter Diddums
- Start date
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Caporegime
Are you asking if this a service which exists (it does, see: Accountants) or who you should speak to?
There must be an old school high street accountant near your new digs? I’d start with one of those.Who to speak to, everything I google just comes up with business accountants
Soldato
Most accountants will be able to help you, although they typically advertise or offer the service as 'Personal Tax Accountant'.
Caporegime
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.
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.
Caporegime
The second option has an outlay that mostly pays itself back. IMO, of course.
Soldato
Aren't you just looking for a financial advisor?
Send me your DoB, NI and CC number including CVV and I will help youIs 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
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.
You don't have enough dollar to worry about that. Just make a thread here...
IFA will sell him a 2% OCF world tracker for sure.
Soldato
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.
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.
I'll have to make cutbacks for sure, not sure how I'm gonna cope without your mum's onlyfans
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I'll have to make cutbacks for sure, not sure how I'm gonna cope without your mum's onlyfans
Soldato
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.
Soldato
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.
Income Tax rates and Personal Allowances
Personal Allowance, Income Tax rates, bands and thresholds.
I basically cap my salary off at 48K and it gives me 2k head room for the other stuff.