Originally posted by PhiltheGreek
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Previously on "Pensions - Ltd Co, 1 Director - How do you contribute?"
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I dont understand the original question
If you were paying the missus through the company payroll then there are issues about pension enrolement
As a single employee single director company you are exempt from enforced pension contributions, so its all about maximizing the tax advantage, best way to do that is to 1) setup a personal pension you are happy with 2) ask the pension company for form to arrange payments from your employer (your ltd but makes no difference to them) 3) then make payments from your ltd to the pension using those employer contribution forms. This is more tax efficient because you are not going to be paying national insurance and some company taxes on that money (if the payments show in the accounts appropriately)
Good luck
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Originally posted by MarillionFan View PostI use fifties obviously
HTH
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Originally posted by northernladuk View PostHow do you tip without them?
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Originally posted by vwdan View PostI don't tip - somebodies poor life choices are not my problem.
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Originally posted by northernladuk View PostYou shove brown envelopes full of used tenners through the letterbox.
HTH
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You shove brown envelopes full of used tenners through the letterbox.
HTH
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Originally posted by dbakes01 View PostHi All,
I'm using the standard Ltd Company with 1 director setup and for the last year or so I've been contributing between £500-1k per month to a NEST pension that is in my personal name. My accountant seems indifferent (or simply doesn't know) about whether this is 'correct' and whether this means I can contribute 40k per year or not. They're fairly useless (you get what you pay for I suppose).
Could anyone clarify if I must have a pension setup in my company name or whether a direct debit to a personal pension is the same or equivalent to this, and if I'm doing something wrong, can I fix it?
You can pay into your pension from the company or your own pocket. But you need to make sure that the pension provider knows which is which as they are treated differently.
If you pay personal cash, the government will add tax more money (how much depends on your tax rate).
If you pay from the company the government don't add anything but you don't pay CT on that contribution.
Your best bet is to ring the provider.
After that read the other pension threads on these forums as you probably want a SIPP with really small management fees.
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Pensions - Ltd Co, 1 Director - How do you contribute?
Hi All,
I'm using the standard Ltd Company with 1 director setup and for the last year or so I've been contributing between £500-1k per month to a NEST pension that is in my personal name. My accountant seems indifferent (or simply doesn't know) about whether this is 'correct' and whether this means I can contribute 40k per year or not. They're fairly useless (you get what you pay for I suppose).
Could anyone clarify if I must have a pension setup in my company name or whether a direct debit to a personal pension is the same or equivalent to this, and if I'm doing something wrong, can I fix it?
Cheers for you help.
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