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Recent content by mackenzie99d

  1. M

    Looking for some advice around pension/salary sacrifice

    I think NEST is ok with salary sacrifice if you google it. Maybe it's your umbrella that has a problem with doing it?
  2. M

    take pension yearly and still contribute via ltd?

    As soon as you withdraw anything over your 25% tax free allowance this is seen as a crystallising event and you are then withdrawing from your pension. From that moment on the maximum you can then pay into your pension per year is £3600.
  3. M

    Transferring Defined Benefit pension

    Most IFAs are affiliated with a specialist transfer company so just ask your IFA. The one I used wasn't great as they took 6 months. Having said that the transfer value increased 10% during that time so it worked out well!! A friend of mine just got his transferred in 6 weeks. It's nice little...
  4. M

    Transferring Defined Benefit pension

    I should also note that the IFA advised me not to transfer and I had to send a statement saying I was aware of the risks and give a list of reasons why I wanted to still go ahead. They then proceeded with the transfer.
  5. M

    Transferring Defined Benefit pension

    I've just been through this myself and so have a couple of friends. I got offered nearly 40 x transfer value and I decided to take it. My reasons were I could take the pension earlier (DB pension was from 60) and hopefully 25% tax free. Other points to consider is what state is your companies...
  6. M

    Legal Advice Re Redundancy Package

    If it's redundancy, apart from the statutory minimum it's up to the employer how generous they are. They would have had to follow strict procedures and if you need to check up on these then the ACAS website and hotline are really helpful. My mrs has used their hotline a lot recently due to work...
  7. M

    Are Kwikfit reliable? (I am doing an MOT with them)

    I've used Halfords for my last 2 MOT's and thought they were really good. No upsell at all just advice that my front suspension needs keeping an eye on (car is 13 years old and I live in London so loads of speed bumps!) I've used Kwikfit for tyres and found them great especially the mobile...
  8. M

    Pension and allowance

    You need to get proper advice and you're running a bit short of time. In my opinion giving your wife a bigger pension contribution than yourself will cause problems as HMRC will consider it unreasonable. Have a search on the internet. I had a quick look and found this.. Adviser confirmation |...
  9. M

    Pension and allowance

    OP - when you say you may want to pay a large amount into your wifes pension I assume your wife is an employee / director of the company? HRMC will need to be satisfied that the salary / bonuses / pension contribution she receives is commercially reasonable for the work done. When you have...
  10. M

    Warchest in pension fund and withdraw immediately at 55

    The tax free lump sum might be going! £4bn raid on pension savings likely, says former Osborne adviser | Money | The Guardian
  11. M

    Pensions - How to pick one

    I'm not sure about 'joining fees' but I spoke to a couple of IFA who wanted to charge 3% upfront for sorting a pension and then 1% a year onwards. Realistically all they do for this is pick a spread of funds dependant on the level of risk you want to take based on a survey you fill in. I ended...
  12. M

    transfer define benefit pension to personal pension?

    It depends on what you are being offered and what other benefits are included as part of the pension. I'm going through the same thing at the moment and have decided to go ahead and transfer. You have to talk it over with a qualified advisor not just a normal IFA before going ahead. I was...
  13. M

    Pension Setup Fee £500??

    That seems quite normal. I shopped around recently and ended up with someone charging the same as that. There were some that were charging 3% set up cost and 1% per annum. I guess it also depends how much you want to invest and some IFAs will negotiate.
  14. M

    Directors Pension?

    Hi Jessica, I asked my SIPP provider and they said that changing pensions wouldn't affect carry forward allowance. I look on the web and can't find any reference to that . Everyone seems to quote that you just have to be a member of 'a' registered scheme in the qualifying years and nothing...
  15. M

    Directors Pension?

    Thanks for the replies guys! Yes I've had a pension scheme for many years although recently I transferred it into a SIPP but I don't see that being an issue? I've got an IFA and my accountant looking at it at the moment but yet to get a definite yes or no so was starting to get a bit worried as...
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  1. Contracting
    1. General
      1. Brexit
    2. Business / Contracts
      1. Coronavirus Assistance
    3. Accounting / Legal
      1. Umbrella Companies
      2. HMRC Scheme Enquiries
      3. The Future of Contracting
      4. IR35 Reform
    4. Technical
    5. Welcome / FAQs
  2. Social
    1. Light Relief
    2. Social / Events
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