I've been making contributions to a company pension scheme over the last 10 years. It's my understanding that if I get forced to use an umbrella company (if I'm IR35 caught) I may be able to make pre-deduction contributions (and therefore be tax efficient) but not necessarily to my existing provider but to whatever provider the umbrella co has avalable.
Don't particularly want my pension spread over several pots so I'm wondering how it would compare to make a personal contribution to my existing scheme instead. My understanding is that for every £100 that I contribute, the taxman pays £20 so a net payment would be £120 (or so).
I'm guessing the personal contribution approach is less tax efficient? Is there a limit I can put in and, if I say, contribute £50,000 in one year, withh the taxman put in 40p in the pound for everything over the higher rate threshold?
Don't particularly want my pension spread over several pots so I'm wondering how it would compare to make a personal contribution to my existing scheme instead. My understanding is that for every £100 that I contribute, the taxman pays £20 so a net payment would be £120 (or so).
I'm guessing the personal contribution approach is less tax efficient? Is there a limit I can put in and, if I say, contribute £50,000 in one year, withh the taxman put in 40p in the pound for everything over the higher rate threshold?
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