By Charlotte Walker on Saturday, 30 October 2021
Category: It's No Holiday

Looking forward to a relaxing retirement (just not quite yet)

October is tax time around here. I seem to have acquired several small Ltd Companies, part of an LLP as well as self employed, payroll, pensions and land & property pages, as well as the FHL (furnished holiday let) parts of my own tax return. Can you beat my record number of tax pages?

Make it simple, stupid! 

This complex spaghetti is a necessary evil to separate the various businesses and joint ventures that I am involved in, and the result of early mistakes in not separating my affairs. Fortunately I have great help with these various bits of accounting.

To try and simplify my affairs is one of my aims, to move from 'small business owner' and 'landlord' to 'investor'. Trusting others to run things for you takes time, optimism and effort, I have to put aside my lively 'executive function' (some might say bossy) tendencies and let go. Another opportunity to do this arose with breaking my ankle this month (while unloading rubbish at the tip, rather than skiing or skydiving).

I usually visit each of the holiday lets a couple of times a week to double-check standards, do small repairs and check inventory. I have been unable to do this and, once again, my team has stepped up to the challenge. My renovations continue, the holiday let business carries on and I am reminded yet again that I am not indispensable. Perhaps someone is sending me a message that I can step out. I have been using the down-time to explore hands-free (stock market etc.) investments and may even try to stop creating new jobs for myself at every turn. For now, every move that I make towards this aim seems to create another layer of complication but the goal is within sight. I am following several strategies within my overall exit strategy and will share a few ideas (that do not constitute advice, just a regular landlord trying to exit eventually!):

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