Originally Posted By Peter J
Originally Posted By twotribes
Originally Posted By RoadsterBoy
Sounds to me Peter that you really have cracked the retirement issue - just keep doing what you're doing!


Yes, but use Caroline's accountancy expertise to determine whether it's better to stay PAYE or retire and get the company to re-hire you as a self-employed contractor. I know which I'd do...


We have discussed this.
Being employed has three benefits, above the monthly bank transfer....

1. Non contributory pension scheme that they pay into every month worth 15% of my pay.
2 . AXA PPP medical care plan as part of a large group scheme there are no restrictions or exclusions. BIK is less than £4K for the 2 of us. Talking to AXA a similar scheme, as a former employee, is simply unaffordable.
3. Life Insurance, 4X my pay included in the package.

I discovered that as an employee, once over 65 I pay NO NI contributions. Self employed Class 4 you do... Why????.


Peter, that sounds compelling:

1) As long as your pension is not already overcontributed against your Lifetime Allowance - otherwise you are mainly making a future gift to the Exchequer

2) The unaffordable personal HI scheme can become affordable. Like Sky, AA etc you never know what the actual best rates are until you give notice to leave. In AXA PPP's case, this is accomplished through a wholly-owned brokerage subsidiary who have access to - would you believe it - AXA's own underwriting department.

3) I wouldn't want my wife knowing I was worth this much dead quiet

4) I had no idea - yet another tax on enterprise

Stuart
"There's no skill substitute like cubic inches."