pay myself a pension

[dude69]

AFAIK that's the way to do it. 100% non contributary is the max these days isn't it? You could ask the accountant of course.

NN

100%/£3800 as a personal contribution, or about £250k from the company

[aucomptoir]

Thanks all. I've just found those old threads. Will take a long read.

[Lewis]

Does anyone know the mechanics of paying yourself a pension through a LTD Co. ? I already have two stakeholder pensions through previous management companies, now I'm running my own LTD Co. I want to start paying myself a pension through the LTD Co, but I am not sure how this is done. Do I simply transfer the cash straight into the stakeholder pension every month from my business bank account, then account for all the contributions at the end of the tax year ? Or is there some other process. Advice welcome.

There was a big thread recently about this (mainly about paying from Co. account vs. personal account). Do a search and you should find it fairly easily.

Personal account better until this April when Co. account better. You need to inform your pension company that the money is coming gross from a Ltd so they don't reclaim tax. I sent off my form last week to switch from personal to company payments.

[IR35 Avoider]

Does anyone know the mechanics of paying yourself a pension through a LTD Co. ? I already have two stakeholder pensions through previous management companies, now I'm running my own LTD Co. I want to start paying myself a pension through the LTD Co, but I am not sure how this is done. Do I simply transfer the cash straight into the stakeholder pension every month from my business bank account, then account for all the contributions at the end of the tax year ? Or is there some other process. Advice welcome.

Ask the pension provider for their procedure for an employer contribution. Typically you fill in a form and send off a company cheque with it. (I pay single contributions once a quarter, once I know know how much I want to contribute. Avoid regular contributions, there is extra hassle involved.)

You just record the amounts in the company accounts as an expense. I keep acknowledgement letters or print-outs of contributions statements from the providers web-site as evidence of where the money went.

[NickNick]

AFAIK that's the way to do it. 100% non contributary is the max these days isn't it? You could ask the accountant of course.

NN

[aucomptoir]

Does anyone know the mechanics of paying yourself a pension through a LTD Co. ? I already have two stakeholder pensions through previous management companies, now I'm running my own LTD Co. I want to start paying myself a pension through the LTD Co, but I am not sure how this is done. Do I simply transfer the cash straight into the stakeholder pension every month from my business bank account, then account for all the contributions at the end of the tax year ? Or is there some other process. Advice welcome.