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  1. Perhaps slightly hyperbolic. I think it was in the region of 460-480k (Offers in Excess Of). I know his parents downsized and gave him a lot of cash to help him. He doesn't like to get in to much detail and will shut down the subject quite quickly. It's not something I really want to push. S
  2. Speaking to friends my age (24; soon 25), some seem to have bitten the fruit of HTB. They seem overwhelmingly leveraged, and have hedged on the idea that IRs will not rise for a long time. I know that the HPI toolbox is not exhausted; but it was mentioned here with a graph before that BoE tracks Fed base rate aggressively. Seems Fed is backing off however, so we may have a bit more time before it hits the fan. If we raise rates, we will stimulate growth. It certainly seems unfeasible that we can keep these record low rates for much longer. When my friend bought a £500k 1-bed flat (not in London), I worry that not only will this all collapse, there is no other option but a bail out. Is HTB going to be the next PPI? -- S
  3. Fortunately not an issue here because as a Ltd Co I can effectively control what I draw down. I'm going to keep stuffing £40k in for now. Even if I exceed LTA, it's only taxed on excess at 55% post crystallisation; so it makes sense for me to take advantage of this currently. I've looked up North and it's appealing, but I'm still not sure of a compelling reason to stay in the UK. Parts of Aus look OK; but they are experiencing similar issues. Too many Aussies though. I think I'll stay put for 2-3 years then make a move. Thanks chaps. I continue to read this forum to realise I'm not the only one who thinks this isn't sustainable
  4. Unfortunately this forum doesn't seem to allow me to edit my post. My reply was submitted prematurely. * EU chose to fight tax evasion; knowing that the only people who could comply with schemes like VATMOSS would be the big boys like Amazon with entire floors dedicated to mitigating tax. * Paid SW is delayed: running any SaaS platform in the EU is a nightmare. So for now we just have extended 'beta testing'. It's a bad sign when it takes longer to develop tax collection methods than a software product.
  5. I sell physical goods. We do HW + SW. We don't data harvest but we have a lot of users. Things like mailing lists and telemetry for things like bug reports were hassle for me to get right legally. SW is delayed because of VATMOSS. The EU has chosen to fight tax evasion. This means that if you sell a single eBook online, you would need to fill out a VATMOSS return or submit a VAT return in the country of the customer you sold to. To prove you sold to the customer in their country. at the correct VAT rate, you need to collect several pieces of non-contradictory data. All hassle. I think this is the side of the EU that a lot of people don't know about. It definitely stifles innovation. A competitor in the US beat us to market because of this; simply because of a lack of regulation here. We'll work it out. Almost all B2C; but we get B2B applications from the reliability of our B2C products. We also do some B2B based on reselling. All manufacturing and shipping from UK. People will pay for quality and I don't bother with the lower pricing. Better to have 10-20k customers annually that value service; that you can respond to adequately because you have resources than 10x at the same profit margin who receive a more rushed, impersonal service. I don't translate my product data yet beyond compliance statements; but that will change in the next year or so. We have good markets in Scandinavia and Germany. They seem to have a good level of disposable income. Cheers,
  6. I earn a fair bit over £76k; I'm not sure where that figure came from on this post; but would rather not go in to details. My ISA is maxed out every year. Putting £40K in to a SIPP works well for me as it reduces my CT bill. I expect to finish at about £250k at 27 and then with a 7% YoY return, I'll stay in line with life time allowance increases. If I do exceed this, there's not much harm as tax of 55% is applied post-crystallisation. After this, I plan to set up a separate company to invest to avoid a higher tax rate due to 'non core' activities . At my age, I have plenty of time to ride out market cycles and I believe passive investment would be a better option for the majority of my investments as I don't have a solid enough understanding of the markets.
  7. Yes: putting £40k in to SIPP via Ltd and £16k in to regular ISA and £4k in to LISA. Regulations are tricky. Things like GDPR haven't helped.
  8. Good to get some replies. Thank you I do wonder if some aren't aware of how bad the situation is. My parents are surprised at my position and keep asking why I choose to pay in to my SIPP and ISA when I could've got a deposit on a house. I can see at best house prices stagnating. Any gains must surely be muted at this point; at least in comparison to an index fund. About 90% of my revenue comes from outside the UK now. I just need a laptop to do most of my work; so I'm not tied to any fixed location which is very helpful. I've noticed a decline in our UK sales and increasing uptake internationally. I don't think we're failing in the UK, but disposable income seems to be tightening. I don't know if you'll be able to do that with rental costs; but you may get some relief with use of home and subsistence. Contracting route is the way to go as long as you don't fall in the scope of IR35. I'm not keenly positioned on leveraging myself heavily with a potentially depreciating asset. I'm also not sure the South East is where I'll want to be in the future; and buying a place would restrict my ability to move on. Prices up North look more in line with expectations; my concern here is that everyone may get the same idea and I may need to make a decision a few years earlier than I would have ideally liked. Bemused as to how it can all work. I live very frugally. I don't buy anything I can't afford and if I do use a credit card, it's to build credit history and for consumer protection (i.e. flight cancellations). On the other hand, I see people my age driving cars that I know they can't afford. I suppose it's a combination of cheap credit and perhaps a disillusioned opt-out from the hope of being able to afford a house.. Cheers
  9. I've been reading this forum for a while and there's some great analysis on it. It looks like chaps such as durhamborn are on the mark. I'm 24 years old and have been fortunate enough to start my own business. It does pretty well, and I'm lucky enough to max out my ISA and SIPP contributions every year. But being in the South East, there's not much chance of me being able to afford something actually worth its value for some time. Conversely, my friends are either working minimum wage jobs such as bartending or happy to bring in 26k a year (albeit outside of Central) despite us all having attained a good qualification in engineering subjects. It's unclear to me how any of this is sustainable, but perhaps it is. I can't see anything else in the long term other than severe -ve equity on purchases because Carney will rise to match Fed far too late and far too quickly and a disaster will ensue. Perhaps one thing we haven't considered that will contribute to a crash is not just a lack of affordability; but those that can afford simply wanting to wait a lot longer in the hope they get something better.
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