SIPP contributions - personal vs via Ltd Company SIPP contributions - personal vs via Ltd Company - Page 2
Page 2 of 2 FirstFirst 12
Posts 11 to 15 of 15
  1. #11

    More time posting than coding

    Craig at Nixon Williams's Avatar
    Join Date
    Sep 2012
    Location
    Blackpool
    Posts
    452

    Default

    Quote Originally Posted by eek View Post
    Can you use previous year's allowances if you didn't contribute the full £50,000 last year?
    Yes, you can actually utilise unused allowances from the previous three pension input periods (this may not be the same as the tax year).

    Also, the £50,000 previously mentioned is being reduced to £40,000 in 2014/15.

    Craig

  2. #12

    Contractor Among Contractors


    Join Date
    Jul 2005
    Posts
    1,191

    Default

    Quote Originally Posted by Craig at Nixon Williams View Post
    Remember in this example, the maximum that you can contribute to a pension each year is £50,000.

    Craig
    Yes, sorry I was forgetting the limit which was introduced more recently. It is going down to £40,000 for 2014/2015

  3. #13

    Contractor Among Contractors


    Join Date
    Jul 2005
    Posts
    1,191

    Default

    In order to use unused allowance from previous years, you do actually have to have had a pension scheme then, even if you didn't contribute to it.

  4. #14

    More time posting than coding

    Craig at Nixon Williams's Avatar
    Join Date
    Sep 2012
    Location
    Blackpool
    Posts
    452

    Default

    Good point!

    You must also earn as much as you wish to contribute during that year.

    For example - say I had unused allowances for £25,000 from the past 3 years plus my £50,000 allowance this year, I could make a contribution of £125,000 to my pension - however I must earn at least £125,000 this year in order to do this. My earnings from the previous 3 years would not count towards this.

    Craig

  5. #15

    Nervous Newbie


    Join Date
    Jul 2013
    Posts
    2

    Default Thanks guys

    Sounds like company contributions are the way to go, ta.

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •