Tam n pups winter trip 2022

Langtoftlad said:
...but what about that itch
Unless you do this (or another) Vario, it will always be gnawing away in the back of your brain...
Click to expand...
Possibly but the sensible head has to weigh that up with possibly losing money .

So I'm having a head/heart dilemma .

I've a few weeks to think about it
 
Northernraider said:
Guys maybe I should just give an idea here of my position and folk might get it better.

So , I have no house , I have no private pensions etc. I have limited savings squirreled away from the sale of my house. Currently amounts to 70k , I have 50k of that in a longterm higher interest account. I have no intentions of ever touching that. Its my rainy day fund for the future.

The other 20k is my easy accessed savings , I also don't like to dip in to that if I can avoid it.

I work 4 nights a week I make on average 3-400 quid depending on how busy it is. That's over 6 months of the year and before I deduct the cost of fuel , insurance and maintenance to the car.


My cost of living here is currently very cheap as im parked on mums drive ....that won't last forever


When I went fulltime in 2017 I started off with £110k total then bought the frankia for near 40k .

The euramobil is worth around £30 k minimum and the vario around £8k

So if I sold both plus the car I'm basically at the same place financially that I was on 2017 .

Now I'm fine with that , I've no complaints but baring in mind im getting older etc I have to remain sensible.

So I want to have a good reliable comfortable van I can live in and travel in for the next 3 to 5 years , at which point I will have to then consider going back to a normal job to build up my ni contributions etc so I get my full pension on retirement.

I will also most likely need a permanent address then .


I've always wheeled and dealed and I'm quite content with my lot. But I think some forget im not wealthy , my entire lot is less than most folks vans cost lol.

But granted I'm also aware im in a better situation than a lot of folk out there so I'm not complaining

At the minute what I do living wise and travel suits me and the dogs , but things change over time and I need to be prepared for that.

I bought this van last year as the situation was a little tense when I came back to mums with ela etc. That's why I sold the vario to Wissel and bought this. If it hadn't been for his help at the time and him buying the vario for what it had cost me financially ( not counting the 6 months I worked on it ) I'd have been stuck so I don't regret buying this one I just wasn't sure at theBtime it was what I wanted and I've now decided it definitely isn't.

To be honest I prefer older more basic vans as long as they work for me . I tend not to lose money on them which is a bonus.

I've always the thought at the time of buying one if I can sell it again without losing out ....because I need to .


So there's a reason for my confusion and different thoughts.

It's a different life from being retired, owning your own home etc and having a motorhome just as a hobby or for holidays.


I take nothing from the state, I don't claim benefits etc . And never intend to bar my pension when old enough.
Click to expand...
Based on what you have said here my idea was a fecking stupid one. You are right you have a lot to think about.
 
Northernraider said:
I think only complete years count Charlie
Click to expand...
It is only around 3 quid a week for class 2 so yopu just pay it continually. As you only work aroumnd 6 months it isn't likely you would have to pay class 4's on the 'profits of your earnings. That way the class 2's give you a full year, every year

Subscribers  do not see these advertisements

 
gus-lopez said:
It is only around 3 quid a week for class 2 so yopu just pay it continually. As you only work aroumnd 6 months it isn't likely you would have to pay class 4's on the 'profits of your earnings. That way the class 2's give you a full year, every year
Click to expand...
I agree, I think Tam Northernraider needs to be paying class 2 nic to keep up qualifying years
I think you can pay for back years too.
 
This site contains affiliate links for which MHF may be compensated.
gus-lopez said:
It is only around 3 quid a week for class 2 so yopu just pay it continually. As you only work aroumnd 6 months it isn't likely you would have to pay class 4's on the 'profits of your earnings. That way the class 2's give you a full year, every year
Click to expand...
I don't understand any of that. What's class 2's and 4's ?
 
Figaro said:
I agree, I think Tam Northernraider needs to be paying class 2 nic to keep up qualifying years
I think you can pay for back years too.
Click to expand...
How do I find out about this without a lot of forms and folk being nosey wanting pay slips etc. I get paid cash in hand and it varies every week .
 
Northernraider said:
How do I find out about this without a lot of forms and folk being nosey wanting pay slips etc. I get paid cash in hand and it varies every week .
Click to expand...
Go on to Martin Lewis's website he is brilliant on this stuff and he will tell you how to pay what you owe to catch up.

Subscribers  do not see these advertisements

 
Class 2 nic is a weekly amount you pay I think off the top of my head around 3 quid and class 4 is what you pay on annual profits.
 
Ginam said:
Paying your NIC up to date will be a very good investment for you as you will benefit from thousands of pounds of pension for the rest of your life.
Click to expand...
Yes I'd like to do that if I can ..
 
Northernraider said:
Yes I'd like to do that if I can ..
Click to expand...
Get you NI number ready and give HMRC a ring they will tell you how much you need to pay to get up to date with your contributions. Then you can set up a direct debit with them and pay it monthly. I feel sure Martin Lewis has the relevant phone numbers etc.
 
It appears to me that you need to give this offered motorhome a good going over with a view to selling it on quickly at a profit. What I can't see is why hasn't he sold it himself. Could be a simple answer. You need to investigate when he returns. Keep your current motorhome advertised cos you can easily find a caravan to live in temporary. Regarding your Nat Ins contributions, you need to speak to an accountant or your tax office for proffesional advice. Most people on here cannot give you expert, up to date advice on your circumstances, only opinions based on their knowledge. Good luck Tam and keep us informed. You're like a breath of fresh air in these crazy times.
 
Northernraider said:
How do I find out about this without a lot of forms and folk being nosey wanting pay slips etc. I get paid cash in hand and it varies every week .
Click to expand...
I think you'd declare yourself to be self employed and ask to pay self employed nic, which isn't a lot of money but would enhance your state pension entitlement.
DWP would be your source for more information, I think you'll find them quite helpful.
If you have a government gateway account you can check your eligible years and a host of other useful information like projected state pension at retirement, along with retirement age
 
Langtoftlad said:
First stop
https://www.gov.uk/check-national-insurance-record

Then
https://www.gov.uk/check-state-pension
to see what you currently are going to get, and what you could get

No prying, no wage slips
Click to expand...
Looks like my forecast is £203 a week from 2040.

But I only have 28 complete years so I'd get £179 a week for what I've paid now.

It won't get any better than 203 it says but basically if I pay the shortfall between now and 2040 I'll get the full amount

Subscribers  do not see these advertisements

 
Northernraider said:
I think only complete years count Charlie
Click to expand...
Yes however you can top up any part paid years you may already have from the last time you were employed and paying NI.
gus-lopez said:
It is only around 3 quid a week for class 2 so yopu just pay it continually. As you only work aroumnd 6 months it isn't likely you would have to pay class 4's on the 'profits of your earnings. That way the class 2's give you a full year, every year
Click to expand...
I can't remember the amount of work you have to do to prove you are self employed so that needs thinking about.
Figaro said:
I agree, I think Tam Northernraider needs to be paying class 2 nic to keep up qualifying years
I think you can pay for back years too.
Click to expand...
Yes you can but you need to be careful as not all years count.

Northernraider said:
I don't understand any of that. What's class 2's and 4's ?
Click to expand...
Different rates for different types of employment/pay etc. Go on the HMRC Pension site and it's all explained.

The Pension Service is who you need to ring but first get your forecast by registering for the Govt Gateway was you will be able to see your contribution history for all years. Once you have this ring the PS who'll tell you what you can top up (ie part years) and how many years short you are along with what pension you qualify for now and what you'd get by topping up which roughly adds about £5 a week per year paid I think.

One more thing, do this SOON as I believe you only have the option to pay for earlier years (to 2015/16) until the end of this July 2023, it was April but due to massive demand the deadline was extended, after that I think you will only be able to pay for 2016/17 onwards. Also the price to pay for missing years is due to be increased from 1st August.
 
mackeellan said:
It appears to me that you need to give this offered motorhome a good going over with a view to selling it on quickly at a profit. What I can't see is why hasn't he sold it himself. Could be a simple answer. You need to investigate when he returns. Keep your current motorhome advertised cos you can easily find a caravan to live in temporary. Regarding your Nat Ins contributions, you need to speak to an accountant or your tax office for proffesional advice. Most people on here cannot give you expert, up to date advice on your circumstances, only opinions based on their knowledge. Good luck Tam and keep us informed. You're like a breath of fresh air in these crazy times.
Click to expand...
Accountants cost money, lots of money even for a short telephone call. HMRC direct information line is free.
 
mackeellan said:
It appears to me that you need to give this offered motorhome a good going over with a view to selling it on quickly at a profit. What I can't see is why hasn't he sold it himself. Could be a simple answer. You need to investigate when he returns. Keep your current motorhome advertised cos you can easily find a caravan to live in temporary. Regarding your Nat Ins contributions, you need to speak to an accountant or your tax office for proffesional advice. Most people on here cannot give you expert, up to date advice on your circumstances, only opinions based on their knowledge. Good luck Tam and keep us informed. You're like a breath of fresh air in these crazy times.
Click to expand...
I think he's still using the motorhome . It was there last year when I bought the vario from him .. he said at the time he was selling the vario and bought the motorhome to take his parents on holiday with him . He Says his parents have now gone back to India and he misses the vario and would like it back. I've no reason to doubt any of that.

The motorhome he has only has 36000 miles it is a 1996 model . The mot history on it looks good and the body looks OK in the photos. It's old so I don't expect it to be perfect . But if clean and tidy inside and usable then it would do me for using now if/when the euramobil sells. I can then decide after a winter away again whether to sell it on , trade it in or keep a hold of it and use it.

Won't know till I see more pics of it or the van itself. He Says once he returns from holiday he will do a video call and show me all the van etc . If happy he'll drive up to do the swap .

So I've 2 weeks to think it over and who knows maybe I'll have a buyer for the euramobil meantime.
 
Northernraider said:
I think he's still using the motorhome . It was there last year when I bought the vario from him .. he said at the time he was selling the vario and bought the motorhome to take his parents on holiday with him . He Says his parents have now gone back to India and he misses the vario and would like it back. I've no reason to doubt any of that.

The motorhome he has only has 36000 miles it is a 1996 model . The mot history on it looks good and the body looks OK in the photos. It's old so I don't expect it to be perfect . But if clean and tidy inside and usable then it would do me for using now if/when the euramobil sells. I can then decide after a winter away again whether to sell it on , trade it in or keep a hold of it and use it.

Won't know till I see more pics of it or the van itself. He Says once he returns from holiday he will do a video call and show me all the van etc . If happy he'll drive up to do the swap .

So I've 2 weeks to think it over and who knows maybe I'll have a buyer for the euramobil meantime.
Click to expand...
Now that sounds like a plan (y)

Subscribers  do not see these advertisements

 
Minxy said:
Yes however you can top up any part paid years you may already have from the last time you were employed and paying NI.

I can't remember the amount of work you have to do to prove you are self employed so that needs thinking about.

Yes you can but you need to be careful as not all years count.


Different rates for different types of employment/pay etc. Go on the HMRC Pension site and it's all explained.

The Pension Service is who you need to ring but first get your forecast by registering for the Govt Gateway was you will be able to see your contribution history for all years. Once you have this ring the PS who'll tell you what you can top up (ie part years) and how many years short you are along with what pension you qualify for now and what you'd get by topping up which roughly adds about £5 a week per year paid I think.

One more thing, do this SOON as I believe you only have the option to pay for earlier years (to 2015/16) until the end of this July 2023, it was April but due to massive demand the deadline was extended, after that I think you will only be able to pay for 2016/17 onwards. Also the price to pay for missing years is due to be increased from 1st August.
Click to expand...
I've done the government gateway thing . I have 28 complete years , 2 years with only 50 weeks which is a pain but they were in the early 90's so can't complete them . And obviously nothing paid for the last 6 years. I need another 7 complete years to get my full entitlement. It would be £25 less a week if I left it as it is now.

So if only £3 a week to pay it myself it would be worth doing it. As long as they don't start wanting me to provide tax declarations etc as I get paid by each customer I deliver too that's it.

No payslips etc and no benefits and the amount I make varies depending how busy it is .
 
Northernraider said:
I've done the government gateway thing . I have 28 complete years , 2 years with only 50 weeks which is a pain but they were in the early 90's so can't complete them . And obviously nothing paid for the last 6 years. I need another 7 complete years to get my full entitlement. It would be £25 less a week if I left it as it is now.

So if only £3 a week to pay it myself it would be worth doing it. As long as they don't start wanting me to provide tax declarations etc as I get paid by each customer I deliver too that's it.

No payslips etc and no benefits and the amount I make varies depending how busy it is .
Click to expand...
No you can just pay your NIC and leave it at that, as that is the most important thing for your future. Whether you are working or not just pay it. Like I said, a good investment(y)
 
Ginam said:
You don't earn enough to pay tax Tam. So just ask to pay your NIC no need to mention your work.
Click to expand...
Yeah I think that's the best approach

Subscribers  do not see these advertisements

 

Join us or log in to post a reply.

To join in you must be a member of MotorhomeFun

Join MotorhomeFun

Join us, it quick and easy!

Join us

Log in

Already a member? Log in here.

Latest journal entries

Back
Top