Retirement...when, how old and how much??

paulchapo said:
You can still apply for residency there but have to jump through a few hoops to do so and prove you have a certain amount of funds in the bank. I think Spain is doing a lot of lobbying to change that rule but the EU isn't keen.
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This.

Spain and Portugal have the best golden visa programs and you can meet the financial commitment by purchasing property valued over €400/€500k Euros….
 
Another important thing about being retired which some have mentioned is health.
As we get older for one reason or another things begin to stop functioning.
A lot of things can be controlled by medication/operations change of lifestyle etc but I have found with my ailments I am just glad I am no longer working.
There is nothing worse than doing a high pressure job whether on a employed or self employed basis if your feeling shit and constantly needing to take time off, or on medication which affects your ability to do the job.
Retirement definitely takes those pressures away
 
Churchlawtonblue said:
Spot on, it's bloody hard running a small business these days. The corporation tax hike will put an end to tens of thousands of small buiness aspirations. Those that don't run a small business think it's allsweetness and light. Far from it.

There is very little financial incentive to start a small buiness these days and an awful lot of hassle and hoops to jump through that wernt there 30 years ago.
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Whilst I wouldn't dispute any of that, most small businesses don't pay corporation tax do they?
 
halfmist said:
Another important thing about being retired which some have mentioned is health.
As we get older for one reason or another things begin to stop functioning.
A lot of things can be controlled by medication/operations change of lifestyle etc but I have found with my ailments I am just glad I am no longer working.
There is nothing worse than doing a high pressure job whether on a employed or self employed basis if your feeling shit and constantly needing to take time off, or on medication which affects your ability to do the job.
Retirement definitely takes those pressures away
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My dad retired at 60 took redundancy/retirement, he’s was great for about 6 years then things started to go wrong health wise, the last 12 years have been shit for him, heart, type two diabetes and ailments that go with that, replacement knee, he’s a shell of himself it’s awful too watch, diagnosed with early Parkinson’s about 3 year as ago as well. So if he’d worked until 67 he basically wouldn’t have enjoyed those first 6/7 years he got off and would’ve gone from an office to his chair at home, it’s so sad and something that will drI’ve me to do more in my retirement before I reach state pension age and the slippery slope to pill popping and shitting myself!
 
Churchlawtonblue said:
Not sure where you get that idea from?? There is no 0% rate.

The lowest rate is 19% up to 50k and between 50k and 250k its going to rise to 26.5% from the current 19%.
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I didn't say they pay nothing, but if they are sole traders or members of a partnership they pay income tax just like everyone else so they won't have be directly affected by corporation tax

59% of businesses are sole traders.
 
Mr Kobayashi said:
I didn't say they pay nothing, but if they are sole traders or members of a partnership they pay income tax just like everyone else so they won't have be directly affected by corporation tax

59% of businesses are sole traders.
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OK, but clearlt if you are a Ltd company and employ even one person you do, which is what I was talking about. And that applies to most small businesses I suspect, which comes back to what I was saying, its much harder in my experience to run a small business than it was 20 odd years ago. This government are dreadful when it comes to supporting S and M business. They are only interested in helping big business.
 
Blue Maverick said:
My dad retired at 60 took redundancy/retirement, he’s was great for about 6 years then things started to go wrong health wise, the last 12 years have been shit for him, heart, type two diabetes and ailments that go with that, replacement knee, he’s a shell of himself it’s awful too watch, diagnosed with early Parkinson’s about 3 year as ago as well. So if he’d worked until 67 he basically wouldn’t have enjoyed those first 6/7 years he got off and would’ve gone from an office to his chair at home, it’s so sad and something that will drI’ve me to do more in my retirement before I reach state pension age and the slippery slope to pill popping and shitting myself!
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That's the harsh reality. None of us know how long we've got. We might be lucky and have a good twenty years of life, or longer and good health to enjoy it. There again we might not. A guy I knew well from my local had his 62nd birthday on the Wednesday and was found dead in his apartment on the Sunday. No underlying health conditions and the post mortem was inconclusive. Great guy, the poor bugger didn't even make his state pension. Get out as early as you can and enjoy it while you have good health.
 
Mr Kobayashi said:
Whilst I wouldn't dispute any of that, most small businesses don't pay corporation tax do they?
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yes they do, reduced rate of 20% with under 50k profits, sliding scale then up to the new rate (£250k?) but they do and always have done
 
flook said:
yes they do, reduced rate of 20% with under 50k profits, sliding scale then up to the new rate (£250k?) but they do and always have done
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You've misunderstood the point.

Small businesses operating as sole traders (59%*) or partnerships (7%*) do not have separate legal personality and don't pay corporation taxes.

Their proprietor(s) pay income tax.

*of businesses operating in the UK in 2019.
 
Mr Kobayashi said:
You've misunderstood the point.

Small businesses operating as sole traders (59%*) or partnerships (7%*) do not have separate legal personality and don't pay corporation taxes.

Their proprietor(s) pay income tax.

*of businesses operating in the UK in 2019.
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ah ok, the original discussion was about businesses of all sizes, which would suggest those of corporate structure whether with 1 or 100,000 employees. Using your figures that still leaves a third of small businesses paying corporation tax.

From personal experience of 30 years operating a small business I know that any perks or incentives that used to exist have long since vanished
 
Mr Kobayashi said:
It’s not. But it can't apply to "most small businesses" unless you meant to say most ltd companies. ;)
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No I think you are actually referring to micro businesses. Small businesses as defined by the UK government and exchequer employ between 10 and 50 employees.

Which is where we are placed and what I was referring to in the first place. ;-)
 
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