Another SJD Rant

[Captain Kangaroo]

Just finalised my the closure of my company only to discover that SJD have ignored my suggestion. I proposed taking cash out by an exec pension - which I suggested in Mar-09. Now they tell me its too late to do this which will leave me out of pocket by A Very Large Amount. Left some messages...maybe someone will call....

[VectraMan]

It's your company. Why are you making suggestions to your accountant about what you want to do?

[Captain Kangaroo]

It's your company. Why are you making suggestions to your accountant about what you want to do?

Unfortunately, yes - I have had to on more than one occasion - despite their website marketing which boasts of SJD being 'Proactive in providing tax saving tips and general taxation advice '

[simondolan]

By all means mail me over the details, but we can't possibly enact a payment from your company into your pension. If that was what you wanted to do you would have needed to have done that prior to your year end on advice from your IFA

Just finalised my the closure of my company only to discover that SJD have ignored my suggestion. I proposed taking cash out by an exec pension - which I suggested in Mar-09. Now they tell me its too late to do this which will leave me out of pocket by A Very Large Amount. Left some messages...maybe someone will call....

[Captain Kangaroo]

By all means mail me over the details, but we can't possibly enact a payment from your company into your pension. If that was what you wanted to do you would have needed to have done that prior to your year end on advice from your IFA

I aked your representative 'Tom' for advice in March 2009. I know you can't make a payment from my company. I don't need advice from an IFA regarding my financial affairs. I needed advice from SJD regarding tax-effective mangement of my company.

[malvolio]

I aked your representative 'Tom' for advice in March 2009. I know you can't make a payment from my company. I don't need advice from an IFA regarding my financial affairs. I needed advice from SJD regarding tax-effective mangement of my company.

You also need to grow up and understand your own responsibilities.

HTH

[Captain Kangaroo]

At least you are providing me advice - even if its unsolicited and pointless.

[simondolan]

I aked your representative 'Tom' for advice in March 2009. I know you can't make a payment from my company. I don't need advice from an IFA regarding my financial affairs. I needed advice from SJD regarding tax-effective mangement of my company.

No - you do need advice from an IFA for matters regarding your pension.

Am I right in thinking that Tom would have advised something along the lines of "Yes, you would save tax if you put the funds into a pension, but you would need to seek the advice of your IFA to make sure this is the right thing in your particular circumstances" ?

Also, if we did the Company closure for you I'm guessing that we've put in place the mechanism for you to claim a capital distribution and claim entrepreneurs relief, meaning the tax rate on the final distribution would have been less than 10%?

It is not, and never has been our remit to advise on pension strategy - the tax implications are only one part of it - it is a much more involved decision than that.

[VectraMan]

Unfortunately, yes - I have had to on more than one occasion - despite their website marketing which boasts of SJD being 'Proactive in providing tax saving tips and general taxation advice '

That wasn't what I meant. As Simon says, they cannot do anything with your money. If you asked a question and didn't receive a prompt reply, I'd suggest the thing to have done would be to send a reminder. Not wait 9 months until it's too late and then complain on a public forum.

[Captain Kangaroo]

That wasn't what I meant. As Simon says, they cannot do anything with your money. If you asked a question and didn't receive a prompt reply, I'd suggest the thing to have done would be to send a reminder. Not wait 9 months until it's too late and then complain on a public forum.

I know they can't do anything with my money. I didn't ask them to. I did ask them to provide timely and accurate advice. Some thing on the lines of 'given you are closing the company down in 3 months time, I suggest you (1) make an payment of X into a pension plan now, draw Y in divs and use the cap. gains method for the remainder'. Advice I requested, but didn't receive.