Pension Advice - new contractor

[SueEllen]

Thanks SueEllen, so can I open a SIPP and put (almost) nothing in it personally, then the company can pay in up to £40K as a cost before company tax?

Yep.

BTW If you start doing your homework on pensions you won't need an IFA.

There is lots of information on this forum which you can find via Google. Plus other financial forums/websites have basic to in depth info on pensions.

[SenorMark]

Thanks everyone - I suspected there would be a thread already somewhere... thanks for the pointers.

[kaiser78]

Get some advice from an IFA as a starting point - they normally offer an initial meeting for free.

[WordIsBond]

If you look above in the Accounting forum, you'll see a "sticky" thread near the top: http://forums.contractoruk.com/accou...d-company.html

On the fourth page, cojak put a comment with links to other useful threads as well.

As many Pension questions as keep popping up here, a case could be made that having a Pension subforum under accounting might be a good idea. Same with mortgages. People would be more likely to find their answers without asking the same question that has been asked a million times before.

[SenorMark]

Thanks SueEllen, so can I open a SIPP and put (almost) nothing in it personally, then the company can pay in up to £40K as a cost before company tax?

[SueEllen]

A SIPP can be a company pension.

In other words your company can make employer contributions into it.

[SenorMark]

Hi, I am in my first year of contracting and looking to put some money into a company pension, rather than a personal stakeholder pension.

Can anyone make any recommendations on any good finance companies/schemes to approach, and any gotchas I should watch out for?

Thanks