Learning to walk before I run

badmemory

I can see why the royals employ live in nannies.  Back in the day (40 yrs ago) it was cheaper to employ a live in mother's help (as in unqualified nanny) than to use various childcare systems.  Especially valuable when the now ex was working away from home half the week.

edinburgher

@savingholmes - that is the first that I have heard of it and I can't find anything about it on the SPFO website?

LadyWithAPlan

edinburgher said:

@savingholmes - I don't have sal sac - local government employee.

@badmemory - should be in place before Christmas - think that means I can also claim HR tax relief on the SIPP contributions I've already made this year as long as I'm in HR band at some point during the tax year?

I am SE and now always ensure I pay into my SIPP all monies I earn over the HR £50k limit even with me saving for my house deposit so  I ultimately make myself only a BR tax payer by maximising my contributions.

If you earn 60k then you can claim up to the limit so £10k  (60k-50k) back  at the HR at that 40% tax rate if you pay 10k in

If earn £75k you can claim back on the £15k - you need to have paid in that much to your SIPP of course
If you earn £75k and only add £15k to your pension - it's just the 15k you can claim back your contributions

I am not sure if you have an accountant to do your sipp so either talk to your work re additional company pension payments and/or probably you will need to do an additional s/e tax return for your sipp and will get paid the cash back as you will have already paid 40% plus NI on the money you invested.

edinburgher

@LadyWithAPlan - thank you, but I won't be troubling £50k+ any time soon

killerpeaty

edinburgher said:

@LadyWithAPlan - thank you, but I won't be troubling £50k+ any time soon

Ahh, Scottish rates! I always forget!

Congratulations on your raise! I'm jealous but you more than deserve it!

The builder being difficult is so annoying, I've been lucky in the past with either family or coworker connections but once those dried up, I couldn't even get a builder to quote for me, let alone mess up for me! You're so close, hang in there.

Suffolk_lass

edinburgher said:

@savingholmes - that is the first that I have heard of it and I can't find anything about it on the SPFO website?

I found this (although the link it goes to references 2019-20). Only the first link. Obviously your SIPP is the alternative to paying Prudential for an AVC scheme 

South_coast

I had no idea the tax thresholds in Scotland were so different 😳!

edinburgher

Today has seen a little virement and purchasing V3lux blinds - those guys are not cheap! Then again, I've known Mrs E for 15 years and her parents are still using the same V3lux blind in their attic that they had when we first met.

edinburgher

Decided to set up a lottery DD. £37.50 transferred from my personal spends account to cover it for the rest of the year and £37.52 sin tax paid into my SIPP (£46.90 after tax relief). Thought it was easier than lots of little payments 👍

elantan

South_coast said:

I had no idea the tax thresholds in Scotland were so different 😳!

Aye, it can get quite confusing between the two. 

Congrats Ed on the promotion, I know a few people with those blinds that have had them for years as well ... but that's not to say they are still the same quality as they were or that others are not as good, our bedroom blind cost us a fair bit but weve had it for years so it was worth it 

hope u get a good deal either way