How much do you put in your pension?

[diseasex]

Yeh, I mean it only took just 7 pages of postings to persuade diseasex getting an accountant was a good idea.

I guess this must come under the heading of one of his many "interesting" posts

And one of this pages changed my mind. Whats your point? Took me few months to find right accountant for me - one that not only does my accounts, but also serves with wealth advice. Most other would be waste of cash to me.

[MrMarkyMark]

And one of this pages changed my mind. Whats your point? Took me few months to find right accountant for me - one that not only does my accounts, but also serves with wealth advice. Most other would be waste of cash to me.

Yes, it took you that long to actually listen to something that is completely fundamental anyway.
I don't agree with the second statement either, you were well on course for messing it up.
Your arrogance and thinking you know best, when 9/10 you are way off the mark is laughable.

[ChimpMaster]

Professional forum. Let's leave the bickering and in-fighting behind and move on with sharing positive ideas pertinent to the point of this thread.

[missinggreenfields]

You only risk it when investment is significant (20%+ of your income).

Citation needed.

I read a forum post in the past year or so where someone was prevented from claiming ER because the company had used a fixed-term savings account to store money in for the year.

[diseasex]

Citation needed.

I read a forum post in the past year or so where someone was prevented from claiming ER because the company had used a fixed-term savings account to store money in for the year.

What contractors need to know about investing through their contractor ltd company

For example, say a contractor limited company ABC Ltd has £20,000 of consulting income in a year and the only assets are unit trusts worth £50,000, assumed not to be required for trading purposes, which provide an income of £7,000 in the same year.

“HMRC could well challenge this scenario if the contractor wanted to claim ER”, warns Abbott. “HMRC could argue that the non-trading income is greater than 20% of the total income, which might indicate that ABC Ltd is non-trading and deny a claim for ER. They may also highlight that all the assets are non-trading assets, well over the 20% threshold.”

I don't know of reliability of this artice. I'm trading in mind that I will never dissolve my LTD. But i'm far away from 20% yet and will try to mitigate this problem by borrowing child-LTD all money without interest and trade on child. Then repay back to parent, claim ER if needed etc.

[pr1]

Citation needed.

I read a forum post in the past year or so where someone was prevented from claiming ER because the company had used a fixed-term savings account to store money in for the year.

...citation needed yourself!

[missinggreenfields]

What contractors need to know about investing through their contractor ltd company

I don't know of reliability of this artice. I'm trading in mind that I will never dissolve my LTD. But i'm far away from 20% yet and will try to mitigate this problem by borrowing child-LTD all money without interest and trade on child. Then repay back to parent, claim ER if needed etc.

From the same opinion piece:

what is significant is not defined by statute

As I said, someone elsewhere last year was told by HMRC that they could not claim ER because they had a reasonable sum of cash in a fixed-term account on three months notice. But I'm sure you know what you're doing.

[missinggreenfields]

...citation needed yourself!

It was not on this forum. But I'm sure that if you search hard enough then you can find it.

(It wasn't a one year account, it was in a three month account if that helps you search)

[needmorstuff]

what provider are you guys/gals using for your SIPP and why? and if you don't mind disclosing what are you investing in?

[psychocandy]

Hargreaves lansdown sipp