Highest paying specialty?

[Squid]

Lotus? Really? well, I'll raise you my Reliant Scimitar, and throw in my Gilbern Invader!
In exchange for something that works...

What model?

Mate was doing the head on this,

 

[DefyG]

Unless you are employing a number of people £100k a year is unrealistic as a SE 'one man band', unless you can really find that niche speciality that we all search for but then again £100k when you are 40 may equate to about £45k in todays terms!

 

[Brian Taylor]

I think you have to be realistic...I've been in the industry for 40 years and earn well under £15000.oo per year..if you're after the sort of money you state may i respectfully suggest that being a sparks is not what you should be considering....try becoming a member of parliament..they seem to get a good screw for minimum qualifications.

 

[TJ Anderson]

I think you have to be realistic...I've been in the industry for 40 years and earn well under £15000.oo per year..if you're after the sort of money you state may i respectfully suggest that being a sparks is not what you should be considering....try becoming a member of parliament..they seem to get a good screw for minimum qualifications.

15k? What are you doing man!!

 

[Deuce]

I think you have to be realistic...I've been in the industry for 40 years and earn well under £15000.oo per year..if you're after the sort of money you state may i respectfully suggest that being a sparks is not what you should be considering....try becoming a member of parliament..they seem to get a good screw for minimum qualifications.

You worked one career for 40 years to achieve minimum wage!?

Pretty much every self employed spark I know, once they're established earns about £40-45k a year, on the basis that with a good reputation that's not too tough to achieve, and that it's fairly pointless trying to earn more as you jump into the next tax band = more work for less reward and starts to screw with the work/life balance.

 

[TJ Anderson]

I'm sure Brian miss typed

 

[TJ Anderson]

You worked one career for 40 years to achieve minimum wage!?

Pretty much every self employed spark I know, once they're established earns about £40-45k a year, on the basis that with a good reputation that's not too tough to achieve, and that it's fairly pointless trying to earn more as you jump into the next tax band = more work for less reward and starts to screw with the work/life balance.

You're LTD co aren't you.......45k+ is not an issue when you're Ltd as I'm sure you know

 

[Deuce]

I'm sure Brian miss typed

That's what I thought, but then 150k wouldn't make any more sense given the context.

 

[Deuce]

You're LTD co aren't you.......45k+ is not an issue when you're Ltd as I'm sure you know

It actually makes very little difference these days. As it happens I also cap my drawing (salary/dividends) at the same sort of tax sensible level, and any excess goes into a complicated buy to let project we set up in place of a pension plan... I'll let you know how that worked out in 20-30 years

I suppose the one thing about being ltd is if you have a good year you can leave the excess in the company and draw on it the next year, with less pressure to work as hard. But in the end, if salary or salary+dividends exceed the limit, you go into 40% tax. Or as I call it, the de-motivation tax.

 

[lumenmachine]

£1270 a week not £1200

Year Month Week
Gross Wage £100,000 £8,333 £1,923
Taxable Wage £88,141 £7,