Reply to: SIPP contributions from company account

[SueEllen]

At a recent computer expo someone reportedly compared the computer
industry with the
automobile industry, suggesting that if the car industry had kept up
with
technology like the computer industry has, we would all be driving £25
cars
that do 1000 miles to the gallon.

The car industry fought back with the following:-

Yes, but would you want your car to crash twice a day?"

Every time they repainted the lines on the road would you want to buy a
new car.
Occasionally your car would die on the motorway for no apparent reason,
and
you would just accept this, restart and drive on.

Occasionally, executing a manoeuvre would cause your car to stop and
fail
and you would have to re-fit the engine. For some strange reason, you
would accept this too.

You could only have one person in the car at a time, unless you bought
"Car95" or "CarNT".
But then you would have to buy more seats.

Someone would make a car that was powered by the sun, was reliable, five
times as
fast, twice as easy to drive, but would only run on five percent of the
roads.

Some car owners would get expensive upgrades to their cars, which would
make their cars run much slower.

The oil, fuel and alternator warning lights would be replaced by a
single "general car fault" warning light.

New seats would force everyone to have the same sized backside.

The airbag system would say "are you sure?" before going off.

If you were involved in a crash, you would have no idea what happened.

Mmmm

[AtW]

Ever been to Turkish prison?

[MarillionFan]

I'm doubtful about this, but happy to be proved wrong. Maybe you can provide a link?

I thought the impact of Net Relevant Earnings on the maximum contribution was only on employee contributions, and it had no impact on employer contributions. I haven't spotted anywhere that suggest that the NRE for the current year (or indeed previous ones) affects the ability to roll forward unused allowance.

Would have to work it out, but I would assume you could pay yourself up to a maximum salary (say £120x (ie 3 x £40k)) and then make the employees contribution & claim all of the tax back. I'd assume you'd have to Pay NICS, possibly employers NICS as well. Not sure as last time did it when I was employed.

[GJABS]

Ah, soz. Suspect I've just made your point for you.

I'll let you off just this once. But don't let it happen again! lolz

[Lambert Simnel]

Indeed. I think those who replied to OP on page 1 should be taken immediately for mental examination. Serious responses in "General" is a sign of trouble in the mind!

Ah, soz. Suspect I've just made your point for you.

[Lambert Simnel]

Yes, but you can only carry forward to match(or less) the salary you'll take in the present financial year.

I'm doubtful about this, but happy to be proved wrong. Maybe you can provide a link?

I thought the impact of Net Relevant Earnings on the maximum contribution was only on employee contributions, and it had no impact on employer contributions. I haven't spotted anywhere that suggest that the NRE for the current year (or indeed previous ones) affects the ability to roll forward unused allowance.

[GJABS]

Just a tip - next time you post a serious thread in general you will be taken the p*ss out off.

In future post serious threads in the professional part of the forums.

Indeed. I think those who replied to OP on page 1 should be taken immediately for mental examination. Serious responses in "General" is a sign of trouble in the mind!

[greenlake]

Yeah, WSES you cockwomble.

There's now a test for that....

[SueEllen]

Yeah, WSES you cockwomble.

Mmm yep

[northernladuk]

Just a tip - next time you post a serious thread in general you will be taken the p*ss out off.

In future post serious threads in the professional part of the forums.

Yeah, WSES you cockwomble.

[SueEllen]

Many thanks to all. My first post and I'm delighted with the quick and helpful responses. Thanks again everybody.

Just a tip - next time you post a serious thread in general you will be taken the p*ss out off.

In future post serious threads in the professional part of the forums.

[northernladuk]

Many thanks to all. My first post and I'm delighted with the quick and helpful responses. Thanks again everybody.

Which is an absolute miracle bearing in mind where you posted it.

[blueb0y]

No, you're right - as long as you were in a pension scheme in those years, then you can carry them forward.

You can carry forward if you’re an active member currently building up pension benefits; a deferred member with paid-up pension benefits; a pensioner member, in receipt of pension benefits from your pension scheme, or a pension credit member, where you have a share of your ex-partner’s pension scheme.

Many thanks to all. My first post and I'm delighted with the quick and helpful responses. Thanks again everybody.

[MarillionFan]

Yes, but you can only carry forward to match(or less) the salary you'll take in the present financial year.

[TheFaQQer]

Are you sure? I agree that you need to have been a member of a registered pension scheme to roll forward unused allowance. I didn't think it needed to be the same registered pension scheme that you are now paying the contribution into. Happy to be told otherwise.

No, you're right - as long as you were in a pension scheme in those years, then you can carry them forward.

You can carry forward if you’re an active member currently building up pension benefits; a deferred member with paid-up pension benefits; a pensioner member, in receipt of pension benefits from your pension scheme, or a pension credit member, where you have a share of your ex-partner’s pension scheme.