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Pension Contributions

Pension Contributions that are made by your company to a pension scheme are no longer automatically allowable expenses.

We would advise you to consult with your pension advisor prior to making any pension arrangements. 123 Contracting are not authorised to offer advice regarding pensions and other investment products. If you would like to speak to our pension specialists who are Independent Financial Advisers (IFAs) please do call our office on 0845 834 0269.

With regards to making personal pension contributions not from your company, these are now capped at 100% of the salary you choose.

There is not a great deal of difference in the tax benefit between contributions paid personally or by your company. Therefore if you choose to pay yourself a low salary, it may make sense to have pension contributions paid by your company.

Disclaimer:

This information is for general information only. We take no responsibility for any action taken or refrained from in consequence of its contents. Always seek our professional advice specific to your circumstances before acting.