Hello experts,
Myself and my wife are both IT contractors working for 2 separate clients (outside IR35) and contributing more or less equally to our company's revenue.
We are both directors with 50:50 share holding.
Currently, we are not contributing any pensions(neither employee nor employer).
I have opened an SIPP account recently and not paid into it (zero balance for this FY)
My question is , how much can my company(employer) contribute as Employer Pensions? Is it 40k£ for individual director and 80K in total.
The profit is sufficient to cover these 'expenses'.
Please advise.
Thanks.
Myself and my wife are both IT contractors working for 2 separate clients (outside IR35) and contributing more or less equally to our company's revenue.
We are both directors with 50:50 share holding.
Currently, we are not contributing any pensions(neither employee nor employer).
I have opened an SIPP account recently and not paid into it (zero balance for this FY)
My question is , how much can my company(employer) contribute as Employer Pensions? Is it 40k£ for individual director and 80K in total.
The profit is sufficient to cover these 'expenses'.
Please advise.
Thanks.
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