Pension.......

[ContractorNW]

Does it work like this.....

can I buy a property and pay for it out of my limited company bank account - by getting a mortgage and take the payments out each month and call it my pension?

sorry if the above sounds a bit thick - but I have no clue or pension for that matter!

thanks...

[AtW]

No.

What you propose strikes at the heart of the pension system as it exists today - take your hard earned money to repay current "top level" members of this ponzi scheme, naturally there won't be anything left for you when you retire, however any attempt to avoid paying additional money into this scam would lead to its much quicker collapse. This is why Govt offers generous tax breaks on those pensions - why not if you can use that money now and who cares what happens in 30 years?

Have a nice day!

[TimberWolf]

No.

What you propose strikes at the heart of the pension system as it exists today - take your hard earned money to repay current "top level" members of this ponzi scheme, naturally there won't be anything left for you when you retire, however any attempt to avoid paying additional money into this scam would lead to its much quicker collapse. This is why Govt offers generous tax breaks on those pensions - why not if you can use that money now and who cares what happens in 30 years?

Have a nice day!

So what are your pension plans?

[Support Monkey]

So what are your pension plans?

None, I will Throw myself on the mercy of the state, hopefully workhouses will be back in fashion by then.

and has there will be no retirement age why will anyone need a pension, we will all just drop down dead at our desks

[AtW]

So what are your pension plans?

After SKA's imminent success I plan to do a hostile takeover of CUK and turn it into yet another successful subscription business: it's so addictive that I reckon I'll be quids in.

[Gonzo]

After SKA's imminent success I plan to do a hostile takeover of CUK and turn it into yet another successful subscription business: it's so addictive that I reckon I'll be quids in.

How is that going to work? You'll be the biggest subscriber.

[AtW]

At least he won't need to delete TPD since it's dead on its feet.

That one would be the first to go

[Pondlife]

Does it work like this.....

can I buy a property and pay for it out of my limited company bank account - by getting a mortgage and take the payments out each month and call it my pension?

sorry if the above sounds a bit thick - but I have no clue or pension for that matter!

thanks...

You are not buying the property, your company is. Therefore the property does not belong to you. I would suggest maybe you repost in accounting/legal as all you'll get here is the usual abuse and we'll be off topic by page 2.



Edit: and by page 2 I meant post 2.

[doodab]

Actually, it's not impossible to pay into a pension and use it to buy a house, although there are tax implications to doing so.

Buying Properties using a Self Invested Personal Pension Plan (SIPP)

[northernladuk]

The intelligent thing would really have been to post this in the right forum so I guess doing a bit of basic research is too much to expect.