Backdating Company Pension - Separating Fact From Fiction.

[mudskipper]

Yep fair point. Apologies for my brusque response.

And my apologies for the way I put it...

Get a room, you two.

[northernladuk]

Get a room, you two.

Would that be a business expense?

[Fred Bloggs]

OP, I have done exactly what you want. It isn't a problem provided you have checked your entitlement and contributionsalready made. No problemreally.

[iguy2008]

Get a room, you two.

Noe that's better

[TheFaQQer]

Would that be a business expense?

Ask your Mrs if you can use her corporate account.

[SueEllen]

You can only backdate if you were a member of a pension in those years. This includes any old employee pensions you have which you no longer pay into but are a member of. There is a HMRC calculator page where you can calculate what you are able to pay in based on previous year contributions.

I was too lazy to type stuff like that because the OP explained he seen an IFA who said it was OK.

Perhaps your accountant is worried about the contribution being 'wholly and exclusively necessary for business purposes'

It goes without saying the pension is"wholly and exclusively necessary for business purposes" just like paying the director some wages.

I suspect the accountant is worried because
1. Their other clients either don't worry about pensions or pay into them in the appropriate company year , and,
2. It's outside their area of expertise.

[ZARDOZ]

It goes without saying the pension is"wholly and exclusively necessary for business purposes" just like paying the director some wages.

I suspect the accountant is worried because
1. Their other clients either don't worry about pensions or pay into them in the appropriate company year , and,
2. It's outside their area of expertise.

Possibly, but my accountant reminded me of that 'wholly..' clause no idea why.

[Contreras]

It goes without saying the pension is"wholly and exclusively necessary for business purposes" just like paying the director some wages.

Not necessarily if one is talking about creating a loss for the current year, it becomes debatable (and a matter of opinion) whether that is still wholly for business even if the previous years' revenue was all generated by the same director.

An IFA however will tell you it is fine.

[Iliketax]

It goes without saying the pension is"wholly and exclusively necessary for business purposes" just like paying the director some wages.

I suspect the accountant is worried because
1. Their other clients either don't worry about pensions or pay into them in the appropriate company year , and,
2. It's outside their area of expertise.

Or perhaps they know some case law - like Samuel Dracup & Sons.

[WordIsBond]

Or perhaps they know some case law - like Samuel Dracup & Sons.

Since OP is posting here and so presumably not dead, there's substantive differences between that case and his.