Originally posted by northernladuk
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Saving for pension - any regrets?
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I'm very surprised that as contractors making £400+ a day that not manythe start of the thread are contributing much.
You could easily put £20k pa away at £400+pd.
At £600pd you could fill a pension allowance annually.
Also there's the conmpany just literally paying this for you, it's not even out of your pocket.
Also there's a reduction in corp tax.
£1m in retirement for you or your partner is pretty handy ~£30k+ a year plus a 25% lump sum for the 911.Comment
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Originally posted by clembot View PostAlso there's the conmpany just literally paying this for you, it's not even out of your pocket.
For me warchest and cashflow are paramount. As it's possible to pay three years back I'd rather keep it in the account until it either gets too much or starts pushing teh FCSA limits and then put a lump sum in as and when. It doesn't need to be done monthly or anually. Just because a contractor isn't contributing regurlarly it doesn't mean the pension will be used at some point.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by clembot View PostI'm very surprised that as contractors making £400+ a day that not manythe start of the thread are contributing much.
You could easily put £20k pa away at £400+pd.
At £600pd you could fill a pension allowance annually.
Also there's the conmpany just literally paying this for you, it's not even out of your pocket.
Also there's a reduction in corp tax.
£1m in retirement for you or your partner is pretty handy ~£30k+ a year plus a 25% lump sum for the 911.Comment
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Originally posted by northernladuk View Post
Erm.. Explain please. All the income from your LTD eventually ends up in your pocket so how is it not coming out of your pocket?
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Originally posted by clembot View PostI'm very surprised that as contractors making £400+ a day that not manythe start of the thread are contributing much.
You could easily put £20k pa away at £400+pd.
At £600pd you could fill a pension allowance annually.
Also there's the conmpany just literally paying this for you, it's not even out of your pocket.
Also there's a reduction in corp tax.
£1m in retirement for you or your partner is pretty handy ~£30k+ a year plus a 25% lump sum for the 911.
Whereas property ownership is (almost) human rightLast edited by GitMaster69; 21 September 2022, 12:07.Comment
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