@@MedicsMoney personally I'd love to know more about limited company investing which you mentioned in this video. My accountant is really reluctant to advise as he doesn't want to blue the financial advice line. I've done a lot of reading and it seems to be a bit of a minefield. For example some places say you shouldn't invest through your actual ltd company and should create a second company to "lend" money to which does the investing as you lose business allowances etc, I don't really understand the ins and outs tbh
Thanks for subscribing. Spending your hard earned money on things that make you happy like holidays IS true wealth in our opinion. Just by making a few tweaks and having a financial plan you can continue to do this without working harder now or working longer before retirement. Our how to retire early video gives a few pointers.
Im in an admittedly fortunate position where im looking at how to add to a sipp, with a consultant-level NHS pension (member since 2010). Max out my S&S ISA yearly but struggling to work out how much i could put into a SIPP due to the complexity of the NHS pension. Any advice? I get the feeling that the only way of doing this is via a financial adviser
Do you really prefer tax advice from UA-cam rather than approaching a trained, professional, registered financial advisor? Despite your obvious wealth you are still looking for advice on the cheap...
Of course the textbook answer is consult an Independent Financial adviser that fulfils these criteria www.medicsmoney.co.uk/medics-money-approved/ At this earning level likely to have Annual Allowance and tapering issues possibly. It's perfectly possible to manage the SIPP yourself - if you know what you are doing. There's also WAY more to consider for your financial plan which is why we run this www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/
does the online tax rebate for doctors help with diploma exams? I'm a current fy2 and ive not done the tax rebate because the form is now a paper form which makes it confusing! im planning on doing a diploma this year which is a few grand, will this tax rebate change my tax code and reduce the amount I pay for my 3k diploma?
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Great video! I like the style used to compare both doctors.
Please can you do more videos on consultants working via a limited company?
Thanks for subscribing. Absolutely we can do that - any specific questions or topics you want us to cover?
@@MedicsMoney I was thinking about how to set one up and then how you pay yourself a salary from it. How you can use it to help with saving tax etc.
@@MedicsMoney personally I'd love to know more about limited company investing which you mentioned in this video. My accountant is really reluctant to advise as he doesn't want to blue the financial advice line. I've done a lot of reading and it seems to be a bit of a minefield. For example some places say you shouldn't invest through your actual ltd company and should create a second company to "lend" money to which does the investing as you lose business allowances etc, I don't really understand the ins and outs tbh
I'm trying to be doctor wealthy but too many holidays is making that a bit harder than it should be.
Thanks for subscribing. Spending your hard earned money on things that make you happy like holidays IS true wealth in our opinion.
Just by making a few tweaks and having a financial plan you can continue to do this without working harder now or working longer before retirement. Our how to retire early video gives a few pointers.
Im in an admittedly fortunate position where im looking at how to add to a sipp, with a consultant-level NHS pension (member since 2010). Max out my S&S ISA yearly but struggling to work out how much i could put into a SIPP due to the complexity of the NHS pension. Any advice? I get the feeling that the only way of doing this is via a financial adviser
Why not use that cash for investing now, like real estate?
@SRMinds I like the tax incentive of a SIPP plus I've been a landlord before and found it to be a ball-ache
Do you really prefer tax advice from UA-cam rather than approaching a trained, professional, registered financial advisor? Despite your obvious wealth you are still looking for advice on the cheap...
@kevinsyd2012 I'm just asking the question. Costs me nothing. You're daft if you think I wouldn't consider all my options.
Of course the textbook answer is consult an Independent Financial adviser that fulfils these criteria www.medicsmoney.co.uk/medics-money-approved/
At this earning level likely to have Annual Allowance and tapering issues possibly.
It's perfectly possible to manage the SIPP yourself - if you know what you are doing.
There's also WAY more to consider for your financial plan which is why we run this www.medicsmoney.co.uk/medics-money-financial-wellbeing-course/
Can you explain how an NHS consultant gets their pay put into a plc rather than PAYE?
Very hard to get NHS income via Ltd - usually it's non NHS income via Ltd. Search our channel we have several videos on this. Hope that helps?
does the online tax rebate for doctors help with diploma exams? I'm a current fy2 and ive not done the tax rebate because the form is now a paper form which makes it confusing! im planning on doing a diploma this year which is a few grand, will this tax rebate change my tax code and reduce the amount I pay for my 3k diploma?
All covered here www.medicsmoney.co.uk/free-guide/