Hi

Background - mid 20s. I work in London trading on the futures markets. I have been very fortunate indeed to have been quite successful since starting 2 years ago after university and earn bonuses dependent on how much I make from trading the futures markets.

I basically trade with a company in London but act as if self - employed. Earning the money I make in the markets and then paying the tax man through the self assessment tax method.

Hence buying a property with an offset mortgage would be ideal for me as quite often for periods of time I am sitting on money due at a later date for the taxman. However although I feel bearish on house prices in general in the UK, I cant make my mind up on the direction of London house prices?. Prices are higher but seem underpinned by higher wages etc

So if I dont buy a flat for myself just now then I have the equivalent of an STR fund and need to decide what to do with it?

By Easter I will have over £250k (my own money after tax) + £100k+ due to taxman in Jan 09.

I like to treat the money a 2 seperate amounts - my own and that which is due to the taxman.

Basically looking for advise with what to do with the money?
NSI?? The inflation linked one (£15k twice a year) looks good although the Gov't always keep inflation artificially low and we seem to have an arguement going between whether we are heading for inflation or deflation??
Banks??

Also would putting money in a SIPP even if just as cash till I decide what to do with it?? I am a higher rate taxpayer.

If I put £20k in a SIPP does that mean I am taxed on £20k less when I do my tax return??

If anyone has any advice on the issues affecting me which I have underlined I would really be greatful.

Just as an after thought I am newish to this website but have been trying to give as well as take input from discussions since I joined a couple of weeks ago. I think the whole concept of this website is superb. Its good to have somewhere to look at discussion between where people think housing/economy is heading. Keep up the good work.

Thanks

As an obviously higher-rate taxpayer, the idea of sticking a large amount of it into a SIPP is quite a freakishly good idea if you're happy managing your own investments. Remember you'll get a 40% tax refund on what you put in. Interesting idea, that.

Don't want to write a essay here , as you might not return , so.............
I use Hargreaves Lansdowne as my broker , reliable , efficient , cheap , easy to use etc.............
http://www.h-l.co.uk/
They have a specialised SIPP department , just a suggestion you could phone them up 0800 138 2121 making out you would like a account with them and ask them all relevant Q's , they won't give you advice where to invest , but will tell you all the rules , tax claiming etc.