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SIPP fees - legitimate expense?

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    #21
    Originally posted by rectifier View Post
    III charge a yearly SIPP fee and a quarterly admin fee - about 196 quid a year in total.

    For those who use III (or any other provider that has such fees) do you pay either/both/none of these fees from your Ltd or out of your own pocket?

    Cheers
    Jamie
    A SIPP is a Self Invested Personal Pension.
    The words "Self Invested" would mean you should not be paying them out of your limited company, but paying them yourself.
    If your accountant is saying you can pay it out of your Ltd, then I'd suggest changing accountants. (But I suspect that if your accountant was saying you can pay it out of your Ltd, then you wouldn't be asking on here)
    …Maybe we ain’t that young anymore

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      #22
      Originally posted by WTFH View Post
      A SIPP is a Self Invested Personal Pension.
      The words "Self Invested" would mean you should not be paying them out of your limited company, but paying them yourself.
      If your accountant is saying you can pay it out of your Ltd, then I'd suggest changing accountants. (But I suspect that if your accountant was saying you can pay it out of your Ltd, then you wouldn't be asking on here)
      Self invested refers to where the money is invested, not where it comes from. It's not just my accountant who advised I could make employer contributions, but my IFA and Hargreaves Landsdown:

      Employer Contributions and Tax Relief | Hargreaves Lansdown

      Comment


        #23
        Originally posted by FrontEnder View Post
        Self invested refers to where the money is invested, not where it comes from. It's not just my accountant who advised I could make employer contributions, but my IFA and Hargreaves Landsdown:

        Employer Contributions and Tax Relief | Hargreaves Lansdown
        Good point, I stand corrected. I reckon the OP should take advice from his accountant.
        …Maybe we ain’t that young anymore

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