R2 / R3 dilemma

playmofire said:
You never REALLY retire, Dave. Retirement is 24/7 every day of the year and you never have time to do what you want.
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By really retire I mean start to collect my state pension so I don't have to work (for money) any more. I know that spare time becomes even more scarce because everyone (SWMBO, children, other retirees) thinks you have nothing to do so kindly offer to fill your time :)
 
idlemarvel said:
By really retire I mean start to collect my state pension so I don't have to work (for money) any more. I know that spare time becomes even more scarce because everyone (SWMBO, children, other retirees) thinks you have nothing to do so kindly offer to fill your time :)
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It's a myth - the real reason that retired people are always busy is that they get up later, talk about everything for a lot longer, and take longer to do anything.

How do I know ? :rofl::rofl::rofl::rofl::rofl::rofl::rofl:
 
korm kormsen said:
talking specially about indoors now.
you will never have enough space for decent looking curves (or do you own an empty hangar?)
from my point of view the second best option is, to make curves as needed tecnically, that your roling stock does not derail.
then disguise these curves.
i use belly-bent curves that are between R1 and R2 (R1.5?) and where ever possible i built a mountain with a tunnel over them.
or they disapear behind dense woodland.
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That sounds like good advice Korm.

I would like to own a small barn if not a hangar but that's very unlikely without a lottery win, and I don't play lotteries.
 
Rhinochugger said:
It's a myth - the real reason that retired people are always busy is that they get up later, talk about everything for a lot longer, and take longer to do anything.

How do I know ? :rofl::rofl::rofl::rofl::rofl::rofl::rofl:
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Or spend too long on railway forums...o_O :giggle:
 
I do not know if this will help but trainli used to have R3 curves and switches and this r3 is really 3 foot radius. Note also that the LGB 3 way switch is LGB R1 and R2 curves.
 
idlemarvel said:
By really retire I mean start to collect my state pension so I don't have to work (for money) any more.
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Not sure how much pension you are expecting to receive, and if you are still working you will pay tax on it.
 
Thanks Jimmy. You can find your expected pension online. And yes not everybody realises that UK state pensions are taxable income. Don't worry about me, I have a nice company final salary scheme pension that pays the bills.
 
idlemarvel said:
Thanks Jimmy. You can find your expected pension online. And yes not everybody realises that UK state pensions are taxable income. Don't worry about me, I have a nice company final salary scheme pension that pays the bills.
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I find that also be be a misunderstood fact. Of course there are many out there that only get the State Pension thus their income is below the current Tax threshold meaning no tax is paid. I am in a similar position to you Dave with the added complication of income from my Dad’s old house. Thus I need to do a Tax return and every year I have to make up a spread sheet of the 4 pensions that I have (2 of them silly low amounts) because I can never remember whether what is on the Statement is it all that I got, or before Tax? The Tax return (”which need not be taxing“ what a joke saying) is somewhat similar instead of saying things like ’earnings before tax’ or ‘earnings after tax’ has been deducted. But whoever expected civil servants to be helpful or even civil? But when you talk to the people at the factory floor as it were great and always helpful. Tis the guys atvthe top with 6 figure salaries that are the problem.

Tax Rant Over.
 
I think your UK state pension is paid before tax and the tax taken off your private/emplyment pension if you have one. And eventually anyone with two or more pensions will have to do a tax return.
 
dunnyrail said:
I find that also be be a misunderstood fact. Of course there are many out there that only get the State Pension thus their income is below the current Tax threshold meaning no tax is paid. I am in a similar position to you Dave with the added complication of income from my Dad’s old house. Thus I need to do a Tax return and every year I have to make up a spread sheet of the 4 pensions that I have (2 of them silly low amounts) because I can never remember whether what is on the Statement is it all that I got, or before Tax? The Tax return (”which need not be taxing“ what a joke saying) is somewhat similar instead of saying things like ’earnings before tax’ or ‘earnings after tax’ has been deducted. But whoever expected civil servants to be helpful or even civil? But when you talk to the people at the factory floor as it were great and always helpful. Tis the guys atvthe top with 6 figure salaries that are the problem.

Tax Rant Over.
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Yes, I've always found the tax people have been very helpful and I've never had to spend a long time waiting to get through on the 'phone.
 
playmofire said:
I think your UK state pension is paid before tax and the tax taken off your private/emplyment pension if you have one. And eventually anyone with two or more pensions will have to do a tax return.
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No, you can do two or more pensions on PAYE; the mighty HMRC computer can work it out eventually, and usually fairly smoothly if nothing changes in the tax year - it's when you get over the investment threshold on other investments that you get dragged into the murky world of tax returns.
 
JimmyB said:
I have my state pension, two other pensions and my part-time earnings, what they do (in my case) is lower your tax rate mine currently is 466L :(
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Yep, it takes a lot of understanding because they persist in a backwards method of calculating. They'll have reduced your tax code so that your state pension is paid net, but the amount of the state pension has to go into the overall calculation of income.

Your risk is that you could be headed towards the higher tax bracket, and you then have two choices - pay up or earn less :devil: :devil:
 
I'm not sure how a thread on track curvature got into UK pension taxation, perhaps we should call a halt before we drive everyone who isn't in a UK pensioner round the bend (geddit?)!
 
Rhinochugger said:
No, you can do two or more pensions on PAYE; the mighty HMRC computer can work it out eventually, and usually fairly smoothly if nothing changes in the tax year - it's when you get over the investment threshold on other investments that you get dragged into the murky world of tax returns.
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Well, I've never been near the investment threshold on other investments, although after I retired I also did some work for my former employer on an ad hoc as a trainer and assessor for a few years. HMRC said I had to fill in a Self Assessment for this and I have had to continue with this even though I stopped doing the ad hoc work nearly 14 years ago.
 
playmofire said:
Well, I've never been near the investment threshold on other investments, although after I retired I also did some work for my former employer on an ad hoc as a trainer and assessor for a few years. HMRC said I had to fill in a Self Assessment for this and I have had to continue with this even though I stopped doing the ad hoc work nearly 14 years ago.
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Yes, that's possible - I've never had to wean myself off self-assessment as I never went there. When I ran my own company, I paid myself as a salaried director under PAYE, which in the long run is a darn site easier.

I think once they've got you on self-assessment, they don't want to let you go - after all, you have to do all the work, or better still, pay an accountant to do it (tax deductable ?? or not ? ) :cool::cool:
 
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