DIY Pensions Advice for a Limited Company! DIY Pensions Advice for a Limited Company! - Page 15
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  1. #141

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    Quote Originally Posted by Lance View Post
    It shouldn't make any difference to your mortgage offer. A cursory view of your accounts will determine profitability before 'staff costs'.
    'Shouldnt' but unfortunately does. Many mortgage providers just look at the one profit figure.

  2. #142

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    Quote Originally Posted by kryten22uk View Post
    I have a SIPP which to date I have contributed ad-hoc payments direct from my Ltd. But now I have some more largeish payments to make, I am thinking of taking them as dividends and paying them into SIPP personally. This should generate tax refund/uplift such that I've invested same amount as if just done gross via Ltd?

    Reason for asking about this approach is that for mortgages etc, they look at company profits. Making company pension contributions depresses the company profits, hence making the amount available to loan lower.
    Not sure if this is an option for you, but some lenders (e.g.: Halifax) look at the day rate multiplied by 48 weeks, so they tend to be a good choice of lender...... Historic profits are irrelevant.

  3. #143

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    Quote Originally Posted by fiisch View Post
    Not sure if this is an option for you, but some lenders (e.g.: Halifax) look at the day rate multiplied by 48 weeks, so they tend to be a good choice of lender...... Historic profits are irrelevant.
    Thanks. It is an option for me, and indeed it is the route I chose for my current mortgage. The thing is that some lenders only look at the profit line, and hence I try to forward plan in order so as to not reduce the pool of possible lenders come remortgage time.

  4. #144

    Still gathering requirements...


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    Quote Originally Posted by aa2006 View Post
    Good news, following Fred Bloggs advice i called CB back and explained to them I wasn't happy with the fact for 20+ years every month i would have to submit a form, especially since other platforms provide this functionality. After she spoke to the SIPP department they said if I am planning to pay the same amount each month then what they can do is reuse the same form.

    So next month when I send in the form and as long as tthe amounts are the same they will reuse the form, which means i don't need to resubmit every month.

    Very pleased they worked something out for me, I am very happy now
    So I thought I would give an update to my experience with Close Brothers after 6 months and how bad things have become.

    As mentioned in my previous post I was manually making monthly contributions, each month I would log into my portal and make a credit card payment. I would inform them of the payment and they would reuse one of my previously submitted forms to process the payment into my SIPP account.

    This has now changed, after a few months they changed their minds and told me that I would now have to send them a new form every month a payment is made. Obviously I wasn't happy about this since they renegade on what we agreed after just a few months.

    So now not only do I have to manually make payment and then send the form in each month, but things have now got worse. About a month ago after I purchased some funds for my SIPP, I noticed the value for my account doubled, my SIPP balance was showing twice the funds I actually had. Then a day later I noticed I was not able to make further purchases since my cash accounts balance dropped from 1800 to 0.

    I reported this to CB and for the first week I called every day and kept being told that they were still trying to resolve the issue. 3 weeks have passed the portal still doesn't work and have had no further updates from them.

    They are one of the cheapest brokers around for the value of my pension, but I am thinking of moving to another broker who can handle monthly payments and is more reliable. I don’t want to spend the next 20+ years manually making monthly contributions and filling in forms etc.

    So basically not happy with Close Brothers

  5. #145

    Froglike

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    Numpty question but does a fund charge the same fees regardless of platform assuming the platform has access to it?

  6. #146

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    Quote Originally Posted by Pondlife View Post
    Numpty question but does a fund charge the same fees regardless of platform assuming the platform has access to it?
    Yes, however each platform will levy their own fees on top and might even discount the fund fee to attract customers
    “Live a good life. If there are gods and they are just, then they will not care how devout you have been, but will welcome you based on the virtues you have lived by. If there are gods, but unjust, then you should not want to worship them. If there are no gods, then you will be gone, but will have lived a noble life that will live on in the memories of your loved ones.”

    ― Marcus Aurelius

  7. #147

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    Quote Originally Posted by Pondlife View Post
    Numpty question but does a fund charge the same fees regardless of platform assuming the platform has access to it?
    It's not quite that simple, I'm afraid. I assume by "funds" you are referring to OEICs or unit trusts, but not investment trusts. It is very common now for funds to have different classes with different charges attached. Depending where you buy the fund from, depends on the class they offer. So, it can indeed vary by the platform you choose, or if you buy directly with the the fund house. On top of that, your choice of platform will levy it's own charges on top. These vary rather a lot. They also vary between a % fee and a fixed rate fee. You have to do your homework, I'm afraid here. HTH.
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  8. #148

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    Quote Originally Posted by SimonMac View Post
    Yes, however each platform will levy their own fees on top and might even discount the fund fee to attract customers
    Not universally true, I'm afraid. See previous reply.
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  9. #149

    Nervous Newbie


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    Default Pension contributions

    Hi, sorry if this is a silly question, but is the general rule that it is most tax efficient to pay into your pension straight from your LTD? This is assuming i have used up all my Basic rate band already

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