I know this has been asked before, but I am still a little confused over what is likely to be allowed this year with respect to my company contribution to my personal pension. I have a SIPP which I contributed 20k to last year, drawing a salary of 6k and net dividends of 39.6k. No issues with this so far, but I have yet to file the company accounts and personal tax return!
This year I would really like to increase my SIPP contribution to 50k or more, but am I likely to get into trouble over this? At what level would I ring HMRC alarm bells? e.g. could I get away with 100k? A few years ago I paid myself about 100k salary and paid the lot into a pension as a personal contribution, but I do not want to go down this route again due to the NI hit.
Last year's profit before tax, but after salaries, pension and other expenses was about 120k. This year's should be similar. At the end of last year (March 2010) I had about 107k in my profit and loss account.
This year I would really like to increase my SIPP contribution to 50k or more, but am I likely to get into trouble over this? At what level would I ring HMRC alarm bells? e.g. could I get away with 100k? A few years ago I paid myself about 100k salary and paid the lot into a pension as a personal contribution, but I do not want to go down this route again due to the NI hit.
Last year's profit before tax, but after salaries, pension and other expenses was about 120k. This year's should be similar. At the end of last year (March 2010) I had about 107k in my profit and loss account.
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