limited company

john_cliff

One of the benifits of the limited company is the there are very good tax savings especialy if you pay into a private pension. This is a question that my accountant could probably answer but if i were paying large amounts each year into a pension i am guessing this could not be touched?

PS can my csa payments be based on estimates for my forthcomming year as it willl be my first year trading limited? or will they go back to my last tax return? these would be very differing outcomes.

thanks again

john_cliff

john_cliff wrote: »

One of the benifits of the limited company is the there are very good tax savings especialy if you pay into a private pension. This is a question that my accountant could probably answer but if i were paying large amounts each year into a pension i am guessing this could not be touched?

PS can my csa payments be based on estimates for my forthcomming year as it willl be my first year trading limited? or will they go back to my last tax return? these would be very differing outcomes.

thanks again

can anyone shed any light on the above questions???

thanks

PreludeForTimeFeelers

They'll not use your pension for assessment purposes, providing you can show you're making these payments.

As to your current income vs your last tax return, normally they would use the last tax return however in your case you would have to say the tax return wouldn't be representative of your income. Instead it's more likely that you'd have to give estimated earnings or your current profit/loss sheet. They would also ask for your dividends.