Contractor SIPP (advice for 2013) Contractor SIPP (advice for 2013) - Page 5
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  1. #41

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    Quote Originally Posted by lukemg View Post
    Finally - make sure you max out your ISA first, much more flexible access options.
    Trouble with this though is you need to pay the tax to get it out the Ltd - which unless you can get by on less than the 40% threshold will cost... which is a reason to look at investing from the company no?

    [Edit: will cost regardless of which tax band you're in]
    "Experience hath shewn, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny. "


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  2. #42

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    If you make company funded SIPP contributions you tell HL (or whoever) of that fact and they then do not make a tax claim. It's very tax efficient way to get the money out of the company.

  3. #43

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    Agreed - for getting money out of the company it is a good option if that is first priority but if it's personal contributions it's not as clear.
    Personally I am doing both because I can see 55 from here but if I was 32, I might want a bit more control.

  4. #44

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    Quote Originally Posted by lukemg View Post
    Agreed - for getting money out of the company it is a good option if that is first priority but if it's personal contributions it's not as clear.
    Personally I am doing both because I can see 55 from here but if I was 32, I might want a bit more control.
    The closer you are to 55 (I'm 56) the more attractive it becomes as you can take the 25% tax free lump sum from age 55 onwards. I'm maxing out my SIPP contributions.

  5. #45

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    So for contributions from my own limited company it's just a very tax efficient way of taking money out of the company - basically I don't pay any tax when taking that money out (as opposed to divi tax etc. if I was doing contributions from a personal source)?

  6. #46

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    Quote Originally Posted by faxfan View Post
    So for contributions from my own limited company it's just a very tax efficient way of taking money out of the company - basically I don't pay any tax when taking that money out (as opposed to divi tax etc. if I was doing contributions from a personal source)?
    Yes, SIPP contributions are an allowable expense for your co ltd. As a bonus, it "IR35 proofs" that portion of your turnover too.

  7. #47

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    Default Efficient Market Hypothesis / Random Walk


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