Stock and Shares ISA maxed out - options?

Eco_Miser

Marcusian said:

Thrugelmir said:

Marcusian said:

I probably have 500-1000 per month to to invest - I do have a GIA with Freetrade,

Then you are unlikely to suffer any adverse tax consequences. Unless you are extremely fortunate with your choice of investment. Dividend allowance is £2k and capital gains tax allowance is £12,300.  More than adequate to trade outside of an ISA. Until you can move the funds inside the wrapper. 

Yes, however i have a LTD Company, that will be using my tax free dividends. So if i am reading that right, unless I 'gained' more than 12k on my investments i won't be liable to any tax? (which from i can see would be highly unlikely with a max 10k invested before April 22).

Any dividends you receive (or are accumulated within a fund or ETF) are liable to income tax in the year they are paid/accrued.

Any capital gains are assessed when you sell the asset, but you can only set that year's allowance (£12,300) against them, no carry-forwards.

So having used your £2000 dividend allowance there may be income tax to pay, but you're unlikely  to have to pay CGT unless you hold in your GIA for many years.

csgohan4

Marcusian said:

kuratowski said:

Got a pension?

I do, a SIPP, but truthfully, I am not arsed about money I can't access before whatever age it will be by the time I get to that (I am 38). I know, i know...pensions and all that. But just not interested. 

Living for the now and ignoring your later years a disaster in the making for alot of people.
Can you honestly live off the state pension plus what ever you have put in your pension so far? It isn't much at this stage.

Your choice on what you want to do, if you want to enjoy it now, good, but come your retirement your going to have to make some tough decisions

Marcusian

csgohan4 said:

Marcusian said:

kuratowski said:

Got a pension?

I do, a SIPP, but truthfully, I am not arsed about money I can't access before whatever age it will be by the time I get to that (I am 38). I know, i know...pensions and all that. But just not interested. 

Living for the now and ignoring your later years a disaster in the making for alot of people.
Can you honestly live off the state pension plus what ever you have put in your pension so far? It isn't much at this stage.

Your choice on what you want to do, if you want to enjoy it now, good, but come your retirement your going to have to make some tough decisions

You speak with such certainty with barely any knowledge of my circumstances. I merely, alongside my SIPP, am looking at other long term investment options once my ISA is maxed out for the year. I am not tone deaf to what you are saying, merely that given my circumstances (and potential opportunities) I don't to put much more into money I cannot access for the best part of 30 years, that's all. 

Voyager2002

Marcusian said:

You speak with such certainty with barely any knowledge of my circumstances. I merely, alongside my SIPP, am looking at other long term investment options once my ISA is maxed out for the year. I am not tone deaf to what you are saying, merely that given my circumstances (and potential opportunities) I don't to put much more into money I cannot access for the best part of 30 years, that's all. 

You can normally take money out of a SIPP once you are 55, so less than twenty years for you. Just long enough for this year's excess money to grow into enough to pay off your mortgage.

csgohan4

Marcusian said:

csgohan4 said:

Marcusian said:

kuratowski said:

Got a pension?

I do, a SIPP, but truthfully, I am not arsed about money I can't access before whatever age it will be by the time I get to that (I am 38). I know, i know...pensions and all that. But just not interested. 

Living for the now and ignoring your later years a disaster in the making for alot of people.
Can you honestly live off the state pension plus what ever you have put in your pension so far? It isn't much at this stage.

Your choice on what you want to do, if you want to enjoy it now, good, but come your retirement your going to have to make some tough decisions

You speak with such certainty with barely any knowledge of my circumstances. I merely, alongside my SIPP, am looking at other long term investment options once my ISA is maxed out for the year. I am not tone deaf to what you are saying, merely that given my circumstances (and potential opportunities) I don't to put much more into money I cannot access for the best part of 30 years, that's all. 

I take things at face value and I cannot read your mind. You  comment about ' I am not arsed about money I can't access before whatever age it will be by the time I get to that' does suggest that attitude of spend now, save later. 

It is more tax efficient to put money aside for the future as well as having  a better lifestyle when you retire.

It's your money, do what you want, some of us, want to live more than off the state pension, than scrounge around and hope for the best. Living with memories of that expensive holiday/Car when your younger and having nothing to show for it, doesn't fit with some of us. 

underground99

csgohan4 said

It's your money, do what you want, some of us, want to live more than off the state pension, than scrounge around and hope for the best. Living with memories of that expensive holiday/Car when your younger and having nothing to show for it, doesn't fit with some of us. 

Clearly, it's good to have a nice time now and a nice time later. 

For a lot of us, living in retirement *without* the memories of a nice car or holiday or self- indulgent times with good friends when we were young enough to enjoy them - so that you can pad a pension or have more left over at the end - is not a great solution either. There is more to live for, than 'tax efficiency'.

Life is a trade-off between competing objectives and while I aim to avoid the very highest marginal rates of tax, I don't aim to move all my liquid assets into an inaccessible tax wrapper just because it's technically 'more efficient' to put everything into a SIPP rather than only putting some money into a SIPP and paying some extra tax now. Perhaps Marcusian has similar objectives.

csgohan4

underground99 said:

csgohan4 said

It's your money, do what you want, some of us, want to live more than off the state pension, than scrounge around and hope for the best. Living with memories of that expensive holiday/Car when your younger and having nothing to show for it, doesn't fit with some of us. 

Clearly, it's good to have a nice time now and a nice time later. 

For a lot of us, living in retirement *without* the memories of a nice car or holiday or self- indulgent times with good friends when we were young enough to enjoy them - so that you can pad a pension or have more left over at the end - is not a great solution either. There is more to live for, than 'tax efficiency'.

Life is a trade-off between competing objectives and while I aim to avoid the very highest marginal rates of tax, I don't aim to move all my liquid assets into an inaccessible tax wrapper just because it's technically 'more efficient' to put everything into a SIPP rather than only putting some money into a SIPP and paying some extra tax now. Perhaps Marcusian has similar objectives.

Personal preference and yes a balance is struck, but from the OP's initial comments, nothing mention about balance but rather blow it all now.  This is a money saving forum after all though. 

Not saying you should not enjoy the fruits of your labour, but not saving away enough for a comfortable retirement is also unpleasant. Living in a state funded care home is not always the best to spend your final years, where you will likely not remember that nice holiday you had 50 years ago, but remember you soiled yourself yesterday and didn't do anything about it, grim but reality

If you want to buy a Tesla and spend 20k in Maldives go for it. But sadly we have seen posts on here from mid 50's OP's who have peanuts in their pension wrapper and wondering what to do and their income is dropping is off as well or preparing to retire. 

Always having one eye on the future would be wise, you reap what you sow. 

Marcusian

Just to be clear. I drive a 14 plate suzuki alto paid for in cash, I have no debt, I save/invest 30% of my income and i am 40% tax payer. I am very very frugal and live in the south wales valleys. I haven't been on a holiday, let alone a foreign holiday, for years. I am merely looking how best to use my surplus, the abundance from a huge growth in my business to fix the roof when the sun is shining. I maxed out my ISA from the 30% bit of my income within 9 months. I am hardly bloody living the vida loca, I am a bodybuilder and diet and fitness coach. I am like a metronome lol, i eat the same 8 things. 

I just don't really want this surplus tucked away until I am 60 odd, as I do have potential other business interest or uses for my investments in a shorter time frame than 25 years. 

csgohan4

Marcusian said:

Just to be clear. I drive a 14 plate suzuki alto paid for in cash, I have no debt, I save/invest 30% of my income and i am 40% tax payer. I am very very frugal and live in the south wales valleys. I haven't been on a holiday, let alone a foreign holiday, for years. I am merely looking how best to use my surplus, the abundance from a huge growth in my business to fix the roof when the sun is shining. I maxed out my ISA from the 30% bit of my income within 9 months. I am hardly bloody living the vida loca, I am a bodybuilder and diet and fitness coach. I am like a metronome lol, i eat the same 8 things. 

I just don't really want this surplus tucked away until I am 60 odd, as I do have potential other business interest or uses for my investments in a shorter time frame than 25 years. 

The important bits which were missing from your OP would have been useful to guide the other posters to your replies. 

We cannot read your mind and sadly we have been getting alot of 1 post wonders, like 'I have 10k Where do I invest ?' e.t.c with no context and expect others to give them a list of funds and spoon fed and then they come back not happy with the advice. 

Marcusian

csgohan4 said:

Marcusian said:

Just to be clear. I drive a 14 plate suzuki alto paid for in cash, I have no debt, I save/invest 30% of my income and i am 40% tax payer. I am very very frugal and live in the south wales valleys. I haven't been on a holiday, let alone a foreign holiday, for years. I am merely looking how best to use my surplus, the abundance from a huge growth in my business to fix the roof when the sun is shining. I maxed out my ISA from the 30% bit of my income within 9 months. I am hardly bloody living the vida loca, I am a bodybuilder and diet and fitness coach. I am like a metronome lol, i eat the same 8 things. 

I just don't really want this surplus tucked away until I am 60 odd, as I do have potential other business interest or uses for my investments in a shorter time frame than 25 years. 

The important bits which were missing from your OP would have been useful to guide the other posters to your replies. 

We cannot read your mind and sadly we have been getting alot of 1 post wonders, like 'I have 10k Where do I invest ?' e.t.c with no context and expect others to give them a list of funds and spoon fed and then they come back not happy with the advice. 

A fair point, however nowhere did i mention 'blow it all now' - anywhere, at all. Merely that in the context of maxing out my ISA, where would be a good place to put it (and that a pension for me is locked away for too long).