LTA allowance exceeded at 36

PdPaul

Appointments this week but more inclined to just continue what I'm doing at the minute and see how the year goes. S&S ISA currently about £550k. 
As it has been mentioned, who knows what the rules are going to be in 20+ years. 

RoadToRiches

Nice problem to have.  Does your SIPP or SSAS operator offers you the option of a Scheme Pension? https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm062310

Thrugelmir

PdPaul said:

Appointments this week but more inclined to just continue what I'm doing at the minute and see how the year goes. S&S ISA currently about £550k. 
As it has been mentioned, who knows what the rules are going to be in 20+ years. 

If you carry on as you are doing. Why worry about paying some tax.  Focus on maximising the returns. Don't let the tail wag the dog. 

EdSwippet

Thrugelmir said:

PdPaul said:

Appointments this week but more inclined to just continue what I'm doing at the minute and see how the year goes. S&S ISA currently about £550k. 
As it has been mentioned, who knows what the rules are going to be in 20+ years. 

If you carry on as you are doing. Why worry about paying some tax.  Focus on maximising the returns. Don't let the tail wag the dog. 

Malthusian's excellent response to the OP back on page 2 exactly nails the trade-offs:

It can be worthwhile to pay contributions while over the LTA if the alternative is to lose the money completely (e.g. matching employer contributions) and/or the benefits are generous enough to compensate for the extra tax (e.g. defined benefits scheme). Otherwise there's a good chance you will pay more tax to get the money out (including the LTA charge) than you get tax relief on the way in.

Since I don't believe the OP has yet revealed whether or not employer pension match overcomes their LTA tax penalty, blanket statements such as "carry on" and "why worry" may be misleading. More tax-efficient alternatives could exist. "Don't let the tax tail wag the dog" may be a cute phrase, but it is commonly over-used and misused.

Thrugelmir

EdSwippet said:

Thrugelmir said:

PdPaul said:

Appointments this week but more inclined to just continue what I'm doing at the minute and see how the year goes. S&S ISA currently about £550k. 
As it has been mentioned, who knows what the rules are going to be in 20+ years. 

If you carry on as you are doing. Why worry about paying some tax.  Focus on maximising the returns. Don't let the tail wag the dog. 

Malthusian's excellent response to the OP back on page 2 exactly nails the trade-offs:

It can be worthwhile to pay contributions while over the LTA if the alternative is to lose the money completely (e.g. matching employer contributions) and/or the benefits are generous enough to compensate for the extra tax (e.g. defined benefits scheme). Otherwise there's a good chance you will pay more tax to get the money out (including the LTA charge) than you get tax relief on the way in.

Since I don't believe the OP has yet revealed whether or not employer pension match overcomes their LTA tax penalty, blanket statements such as "carry on" and "why worry" may be misleading. More tax-efficient alternatives could exist. "Don't let the tax tail wag the dog" may be a cute phrase, but it is commonly over-used and misused.

I was thinking of just operating a GIA account and suffering the CGT. Once all other allowances are utilised. As the OP appears to have found an investment style that generates exceptional returns consistantly.