Regarding Employer Pension carry forward

[WhereItRains]

Hi all,

Long time lurker here, please be gentle

I did indeed speak to my accountant on this, and the reply wasn't convincing to me. A brief summary:

• Limited company contractor since 2013 - Only director
• Opened a SIPP in March 2017 against my name, never mentioned my company's name anywhere (but then I was the only director)
• Never made any employer contributions into the SIPP (own fault, and agree wasn't sharp )
• Moved into permanent employment last year, thanks to COVID and personal health issues (a bit hard hit, let us say)
• Planning to do an MVL soon (funds in excess of £100K) and would like to do an employers pension carry forward for the last 3 years before I take any left over money out via MVL.

My concern/doubt: I opened the SIPP in my name and not as an employer in March 2017. Can I still do an employers contribution into that SIPP even though the limited company is not named on the scheme?

Agent says I can, but then I cannot find any guidance on this anywhere. Given my health situation, I'd prefer not to have any stress from HMRC on this in the future

Any views or guidance please?

[Lance]

what did the accountant say?
And what does it have to do with an agent?

[northernladuk]

what did the accountant say?
And what does it have to do with an agent?

This.. and bearing in mind you said..

Never made any employer contributions into the SIPP (own fault, and agree wasn't sharp )

then it's time to get sharp and go back to your accountant and get everything you need to understand it. If you don't go back and get them to explain it and link you resources to read. Asking a bunch of contractors isn't the best way to validate what the accountant said, particularly if you don't understand it.

You pay him so use his time to understand it fully.

[WhereItRains]

what did the accountant say?
And what does it have to do with an agent?

Hi Lance,

Thanks for your reply. My apologies, it was Accountant (not agent).

My accountant says that:

• It shouldn't matter if my Limited company is registered on the Pension scheme, as I am the sole director and since I was registered (as person) with the SIPP during the period I am looking to carry forward, I am fine to do the Employers contribution.
• I cannot however claim any Corporation tax refund from the carry forward years (which I am happy to write off due to my own stupidity)

[Lance]

Hi Lance,

Thanks for your reply. My apologies, it was Accountant (not agent).

My accountant says that:

• It shouldn't matter if my Limited company is registered on the Pension scheme, as I am the sole director and since I was registered (as person) with the SIPP during the period I am looking to carry forward, I am fine to do the Employers contribution.
• I cannot however claim any Corporation tax refund from the carry forward years (which I am happy to write off due to my own stupidity)

so what's the problem then?
He's right about the name. It's a SIPP. One of the Ps is for personal.
So you doubt him on the CT question? Not sure what you're asking us for. But if your accountant says it is so, that's enough for me.