I can't emphasise enough how useful your videos are, Chris. Thanks for making them
@chrisbourne-retirementplanner
3 жыл бұрын
I really appreciate you saying that Gareth. It spurs me on when I get comments like this.
@sun_and_seo
3 жыл бұрын
yes I would be interested to hear about the EIS!
@chrisbourne-retirementplanner
3 жыл бұрын
Thanks Michael. This is certainly on the agenda 👍
@JessieOpportunityCostInvesting
3 жыл бұрын
I wish more preople focused on all the tax savings info you are pouring out. There's so much quality in this information. Thanks for sharing man! You're doing great things!
@chrisbourne-retirementplanner
3 жыл бұрын
Cheers Jessie appreciate you saying that!
@dietrichcdrr
3 жыл бұрын
Yes, definitely interested in video about EIS, and how to apply for tax refund.
@chrisbourne-retirementplanner
3 жыл бұрын
Thank you Dietrich
@EdmundBaileyUK
3 жыл бұрын
Nice one Chris!! All really useful info!! Gotta love a bit of Del!! 👍
@chrisbourne-retirementplanner
3 жыл бұрын
Thanks Ed. Glad you enjoyed it. 👍
@vishalnatekar8420
Жыл бұрын
Thanks Chris. Looking for forward to your video on EIS. Also, if possible can you also do a video on SEIS please ?
@jemsworld
Жыл бұрын
Excellent I have never heard this before, please can you also make a video on EIS
@chrisbourne-retirementplanner
Жыл бұрын
I will do at some point soon 👍🏼
@julietm5753
3 жыл бұрын
Another Great video just subbed!! can't wait for your million subscribers 👏👏
@chrisbourne-retirementplanner
3 жыл бұрын
Thanks Juliet! Haha the rounds are on me if I get to 1m subs!
@garyrichardson8934
3 жыл бұрын
I personally didn't get much from this because you're covering issues that I'm not really interested in. However, it was a very entertaining video. Absolutely loved how many OFAH references you crammed in.( I'm also a big fan) I have however got a lot out of your other videos! Cushty!!!
@chrisbourne-retirementplanner
3 жыл бұрын
Haha well if it entertained you at least Gary then I’m happy enough with that. Thanks for your comment. Mange tout.
@WaysToWealth
3 жыл бұрын
Mate, you are doing a great job!! Love the video edit. L20
@chrisbourne-retirementplanner
3 жыл бұрын
Appreciate you saying that mate! Thanks for your ongoing support.
@jodie1074
2 жыл бұрын
Really useful info and channel, thanks for sharing such useful tips!
@chrisbourne-retirementplanner
2 жыл бұрын
No problem Jodie I’m pleased that it’s useful!
@antj9857
3 жыл бұрын
Just found your channel and am hooked! Yes please I am interested in the EIS. I found the VCT fascinating, I'm going to look into this further. Will you be analysing the budget next week? Probably lots of tax implications coming.....
@chrisbourne-retirementplanner
3 жыл бұрын
Really glad you're enjoying it Ant! I am hoping to if I can squeeze the recording and editing into my schedule! I have a video going live later that you may like if you're interested in specialist tax planning vehicles - this one focuses on how you can make ISAs exempt from Inheritance Tax.
@garymiller8530
2 жыл бұрын
Thanks again, great video
@chrisbourne-retirementplanner
2 жыл бұрын
Glad it was useful. Thanks for watching!
@whosyourbrad
3 жыл бұрын
Great video Chris 💰💰💰 I really like your videos mate.
@chrisbourne-retirementplanner
3 жыл бұрын
Thank you... Likewise!
@rpowell215
7 ай бұрын
This was excellent thankyou
@chrisbourne-retirementplanner
7 ай бұрын
You’re welcome thank you for watching.
@geoffball5803
2 жыл бұрын
Unfortunately Octopus Titan VCT is Closed for new investment
@chrisbourne-retirementplanner
2 жыл бұрын
Only the latest tranche Geoff. It opened for about a month and was massively oversubscribed. Next tranche will probably open in the new tax year. VCTs are not open for investment all year round - they only open for short subscription periods usually a couple of times a year.
@geoffball5803
2 жыл бұрын
@@chrisbourne-retirementplanner ah ok many thanks Chris, VCTs are brand new to me. Merry Christmas to you and your family
@pataleno
2 жыл бұрын
Great video. Will definitely do a bit of research on VCT. What I don’t understand is isn’t this the same as simply paying into a SIPP and getting tax relief ?
@chrisbourne-retirementplanner
2 жыл бұрын
Hi Pat. The only similarity with a SIPP is that they both offer tax relief, but that’s probably the only similarity… The amount of tax relief, how it’s paid, length of investment, choice of investments and general risk are very different.
@ConsumerkingUk
Жыл бұрын
Great vid! But be careful Chris, the Sullivan estate will come after you unless you've got permission to use OFH vid!
@chrisbourne-retirementplanner
Жыл бұрын
Yes thank you. Fortunately small clips tend to be protected under KZitem Fair Use policy.
@ConsumerkingUk
Жыл бұрын
@@chrisbourne-retirementplanner they'll try trust me...and they won't care about You Tube. Do love ur presentation though.
@popasmurfaudley
2 жыл бұрын
Thank you Chris, another great video! When should somebody typically look at investing in VCTs? After they have filled their ISAs and SIPPS?
@chrisbourne-retirementplanner
2 жыл бұрын
Generally speaking yes. There’s no rule to say that and it may sometimes still be worth considering a VCT even before those annual allowances have been utilised, but you would tend to focus on building those mainstream wrappers first.
@popasmurfaudley
2 жыл бұрын
@@chrisbourne-retirementplanner thanks Chris
@ChrisPDoherty
2 жыл бұрын
As an owner of a ltd company would this effectively mean that I could boost my wage and be potentially better off rather than leaving a wage at a minimal level and boosting through dividends? As this would mean that I could contribute more to a sipp through the company plus receive all the additional tax advantages. And have an easiest time securing loans / mortgages by being able to show a higher salary?
@chrisbourne-retirementplanner
2 жыл бұрын
@@ChrisPDoherty Hi Chris. From a tax perspective, you could reclaim a large amount of the tax you pay by investing into a VCT, but you shouldn't invest into anything solely for tax advantages - investment suitability is the first consideration, and understanding the specific VCT risks. Regarding SIPP contributions, you should be able to pay up to the annual allowance of £40k into your pension through your company (assuming it makes enough profits). Your salary level doesn't come into the equation if you make company contributions because it is the company that receives the tax relief (against corporation tax) rather than you as the individual.
@ChrisPDoherty
2 жыл бұрын
@@chrisbourne-retirementplanner Fantastic, always good to learn something new everyday. Thank you for your videos. Keep it up!
@themaskedmoneysaver
3 жыл бұрын
Grear video again and yes please to information on EIS plus a question for you I have a £4,400 special Tesco dividend (but really it works out to be my own money and nothing extra so I feel conned they called this a dividend at all!!) But I am aware of the £2,000 dividend limit before you pay tax but also I will not have earnt my full £12,500 personal allowance because I am self employed and what with the covid situation etc have not learnt much money at all. I have not received 1 penny of help from the government either my question is -is there any way I can offset one against the other as I have paid any income tax but am liable to 7% on the £2,400 on the dividend excess Thank you kind regards Anita
@chrisbourne-retirementplanner
3 жыл бұрын
Hi Anita! Thanks for your question. If your Personal Allowance for income hasn't been used, it is available for dividend income. So even if your dividend exceeds £2,000, if your total income doesn't exceed £12,500 there won't be any tax due. I hope that helps!
@themaskedmoneysaver
3 жыл бұрын
Thank for answering my question so swiftly. Also the answer has been of great help to me. Thanks again. Ps I have subscribed to your KZitem channel and blog. Best of luck in the future with all your ventures.
@jonathanhowson6420
Жыл бұрын
Very good. Thanks for this. 7-9% returns pre covid? Probably worth putting some of my 'ard earned' into this in April. Im guessing it forms part of the £20k ISA allowance?
@chrisbourne-retirementplanner
Жыл бұрын
Hi Jonathan. I would be cautious about growth expectations… I tend to say to people that if the VCT doesn’t grow at all over 5 years, the 30% relief would effectively be your growth, and that wouldn’t be a bad return. Even if it went backwards, the relief is a cushion. Anything above that is a bonus. VCTs have their own allowance of up to £200k a year, but you can only get tax relief up to the amount of tax you’ve actually paid, so you’d only invest £200k if you’d paid at least £60k of tax in the tax year.
@karina4827
3 жыл бұрын
Hi Chris, I just discovered your channel and I've been binged watching 😊! I'm interested in EIS also and if I may, could you please make a video about ESPP and if they are worth participating in? I only find US videos on the topic and it would be great to have a UK perspective. Many thanks!
@chrisbourne-retirementplanner
3 жыл бұрын
Thanks Karina! A very good suggestion. I'll see if I can plan that into the content schedule at some point soon. Appreciate you supporting my channel.
@rodgerq
3 ай бұрын
As a company director paid via small salary and dividends, am i eligible for the tax relief on my dividend tax?
@tomwebster8299
Жыл бұрын
Great video. Is a self invested person able to access VCTs or do you have to go through an Adviser? If oubkically available, any places you know of which offer them?
@chrisbourne-retirementplanner
Жыл бұрын
Hi Tom. VCTs are available to direct investors, but you should only invest into them if you fully understand all the risks. There are many VCT providers. Octopus are certainly the largest.
@tomwebster8299
Жыл бұрын
@@chrisbourne-retirementplanner thanks a lot. Been checking them out and doing my research.
@bapufromUK
9 ай бұрын
We both are high rate of taxpayers and for example if I withdraw 120k from my Ltd company as dividends, my wife is not in my Ltd , how to save personal tax 😢
@StrongManLiving
Жыл бұрын
Nothing will ever beat only fools
@chrisbourne-retirementplanner
Жыл бұрын
I agree. Still my fave.
@pointoblivionuk4796
3 жыл бұрын
Hi Chris - in your experience for VCT/EIS are these to be considered before maxing out allowances like: capital gains, dividends and interest? VCT 'supermarkets' like wealthclub are good sources.. Any other areas to look at, the other main consideration is high fees eat away the gains over the 5 years whilst it's locked up... Would be interested to know your thoughts?
@chrisbourne-retirementplanner
3 жыл бұрын
I think VCTs and EISs are the top layer of planning once other mainstream wrappers and allowances have been maximised. You have to be careful of fees and you have to be careful with liquidity. The fees are offset of course by the tax relief, but they must still form part of the decision making process and must still be good value.
@pointoblivionuk4796
3 жыл бұрын
@@chrisbourne-retirementplanner hi Chris appreciate the response. Seems about in line with my thoughts. Great video content keep it up 👍.
@GBlock4207
3 жыл бұрын
Hi Chris can you do a wealth building strategy for low income earners can you become financially independent on under 40 grand a year and can you become financially free at over 45 years old with no savings account Isa or mortgage
@chrisbourne-retirementplanner
3 жыл бұрын
Hi there! Great suggestions. Some of my older content (I say old - it's only from the middle of last year as haven't been doing KZitem very long!) might help a little with this. I'll put the links below. I will refresh some of this content in coming videos too so stay tuned! How to retire in 10 years starting with £0... kzitem.info/news/bejne/o4-qt3eCiqyChpg How to invest £100 a month for fastest growth... kzitem.info/news/bejne/ypt6p6KGbGqdnKg
@transformativelearning2186
Жыл бұрын
Amazing but are unearned incomes allowed? Eg rental income?
@chrisbourne-retirementplanner
Жыл бұрын
Yes - any tax paid is allowable for the purposes of contributing to VCTs, unlike pensions. It is just the risk that needs to be fully understood.
@user-se4pz1dg1c
8 ай бұрын
It’s not 30% relief on a VCT if you’re a lower rate taxpayer is it?
@chrisbourne-retirementplanner
8 ай бұрын
Yes. Every investment qualifies for 30% relief. You’re not able to receive more of a refund than the total amount of tax you’ve paid in the tax year though.
@memories-fh5fd
Жыл бұрын
is it possible to invest in VCT for children?
@chrisbourne-retirementplanner
Жыл бұрын
No you have to be 18 at least to invest in a VCT.
@pinakibanerjee8583
Жыл бұрын
Hi, I need some professional advise. How can I reach out to you. Best,
@chrisbourne-retirementplanner
Жыл бұрын
Hi there. Apologies for the delayed response I missed this one! My contact email address is on the About page of my channel.
@Equitybonds24
2 жыл бұрын
How did you work out £6,800 from £5,500 contribution?
@chrisbourne-retirementplanner
2 жыл бұрын
If I a referring to a pension contribution, £5,500 would be grossed up to £6,875 with basic rate tax relief… £5,500 / 0.8 = £6,875.
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