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  • FIRST POST
    • nickb05
    • By nickb05 13th Jul 17, 3:04 PM
    • 1Posts
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    nickb05
    Can employer pay into life time ISA
    • #1
    • 13th Jul 17, 3:04 PM
    Can employer pay into life time ISA 13th Jul 17 at 3:04 PM
    hello,
    iv got a limited company that only employs myself, does any one now if i can set up a life time ISA in my name (as an employee) and have the company match my contributions as a pension pot or would it have to be a proper pension scheme? thanks in advance
Page 1
    • dunstonh
    • By dunstonh 16th Jul 17, 2:47 PM
    • 89,490 Posts
    • 54,955 Thanks
    dunstonh
    • #2
    • 16th Jul 17, 2:47 PM
    • #2
    • 16th Jul 17, 2:47 PM
    ISA stands for Individual Savings Account.

    Whilst ISAs can get some third party payments (where source is identified), it would be classed as income if taken via a limited company and taxed accordingly.

    LISAs are not at all popular. They offer very little for most people and the pension or S&S ISA is better for most. They can fill a niche but pension & S&S ISA are better in most cases.

    Are you sure you are an employee? Normally, where you are the shareholding director with no employees, you are just an officer and not an employee. If you are employed then you would be forced to have an auto-enrolment scheme.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
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