business costs

dshart

With regard to pensions you can set up an executive pension scheme where your company makes contributions to your pension. These contributions are deductable from your company profits so are not subject to Coporation Tax (assuming you are set up as a Ltd. company) . It depends on your personal tax situation to see if it is worth setting it up this way as if you are a higher rate tax payer you may get more benefit by making personal contributions.

There are limits to how much you can contribute each year and it is worthwhile seeking professional advice as to which is the most tax efficient way to make pension contributions.

ben.bayliss

BoGoF wrote: »

Pleased ignore that 'advice' - it is so wrong unless you have an old retirement annuity policy.

Fixed for clarity. Thanks for your 'comment'.