Hi,
I've tried searching the forums, but haven't found anything exactly like my situation although this thread from a few years ago has a good general discussion on making pension contributions from limited companies.
My situation is that I have a final salary pension in payment from an old employer, plus a SIPP that I have been paying into since starting contracting, and I'm now close to hitting the lifetime allowance. I'm generating around a £50k surplus a year, and with my pension and personal savings feel I have sufficient warchest to see me through time on the bench, so the question now is what to do with the surplus?
A friend, who has been contracting for longer, has built up quite a sizeable property portfolio and recommends buy to let. I already let out one house, outside the company, so an option might be for the company to buy this house from me, then over the next few years I can use the surplus to pay down the mortgage. I asked my accountant what he thought but he was very non-committal, but also couldn't offer any alternative investment approaches. So has anyone here got any advice?
Thanks, Steve
I've tried searching the forums, but haven't found anything exactly like my situation although this thread from a few years ago has a good general discussion on making pension contributions from limited companies.
My situation is that I have a final salary pension in payment from an old employer, plus a SIPP that I have been paying into since starting contracting, and I'm now close to hitting the lifetime allowance. I'm generating around a £50k surplus a year, and with my pension and personal savings feel I have sufficient warchest to see me through time on the bench, so the question now is what to do with the surplus?
A friend, who has been contracting for longer, has built up quite a sizeable property portfolio and recommends buy to let. I already let out one house, outside the company, so an option might be for the company to buy this house from me, then over the next few years I can use the surplus to pay down the mortgage. I asked my accountant what he thought but he was very non-committal, but also couldn't offer any alternative investment approaches. So has anyone here got any advice?
Thanks, Steve
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