pension

[lukemg]

All, soon to be working through umbrella company (yeah I know it could be a mistake). Anyway, what is the score with pensions, how much can I chuck in there to lower my tax liability ? I know you can't get it straight away but would rather stash some for later than get totally shafted tax wise.

 

[DimPrawn]

You can stash pretty much as much as you like now. As of April this year the stupid rules have gone.

 

[Lucifer Box]

Lifetime limit of ca. £1.5m IIRC.

 

[DaveB]

The best way is still to fund it from your won ltd though. That way you avoid CP on the contributions.

 

[DimPrawn]

DaveB is correct. A limited company paying the pension is more tax efficient than personal contributions.

Also you can't get the money till aged 55 now. Was 50.