Advice on my best options

eskbanker

mooneysaver said:

How much of your portfolio is currently in gold? If you buy gold coins you pay no CGT and it has consistently been a profitable investment. I would recommend ensuring 60-63% of your property is in physical gold or gold ETFs.

Given their clear preference for conventional options, I would recommend that OP ignores 99-101% of that advice - no harm in a small side flutter on some gold but not into double digit percentages, never mind large ones....

LHW99

griffinsaver26 said:

Thanks AlanP.  I’ve read about over paying on the pension and got a bit mixed up with the two options. I’m a higher rate tax payer and got a partner whose pension is rubbish. If that helps. I’ll look into this AVC scheme. 

In that case, and if your relationship is sound, it could be worth giving you partner money for their pension. IMO its worth planning retirement as a couple, if you are one - it means there are two tax-free allowances available.

You would not get tax relief on the gift, but your partner could claim basic rate relief, and even if not earning could put £2880 into a pension, and get £720 paid in by HMRC.

If they are still below personal allowance at retirement, then all the money up to that level they take from a pension could be tax free (not counting the usual 25% tax-free on withdrawal).