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Investing in my own company using SIPP or SSAS?
Comments
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I didn't take offence for my sake, but for yours.
In case you were being flippant with the risks. Which you should take account of. For your own sake.0 -
The important thing to remember is that you or your business must not benefit from the SIPP - you cannot take the benefits from a pension (either directly or indirectly) until you retire and go into drawdown/
Yes you can. I took PCLS from my SIPP a year ago. Still working for company, SIPP owns the company premises. All with full knowledge/advice from IFA and the pension provider.
If you want you can segment the SIPP and do different things with different bits.You can be making employer contributions into one bit while drawing down from another.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Yes, you can do that with any SIPP. Maybe I wasn't clear - what I meant was you can't benefit from the SIPP except in the way you can benefit from any pension, you could have done the same with any pension, ie taken the TFLS and left the rest invested assuming you're 55+.Clifford_Pope wrote: »Yes you can. I took PCLS from my SIPP a year ago. Still working for company, SIPP owns the company premises. All with full knowledge/advice from IFA and the pension provider.
If you want you can segment the SIPP and do different things with different bits.You can be making employer contributions into one bit while drawing down from another.
The point is you can only benefit from the SIPP by crystallising, not by (eg) letting the company off rental payments when the going gets tough etc.0 -
The point is you can only benefit from the SIPP by crystallising, not by (eg) letting the company off rental payments when the going gets tough etc.
But you could forgo your salary and draw down more pension instead, which would have the same effect.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Assuming you're 55+ and are eligible for flexible drawdown - as you could with any pension.Clifford_Pope wrote: »But you could forgo your salary and draw down more pension instead, which would have the same effect.0 -
Assuming you're 55+ and are eligible for flexible drawdown - as you could with any pension.
Ordinary capped drawdown would do it, if within your current GAD limit.
The point is that there are lots of indirect ways in which a pension owning the company premises can be used to benefit the company.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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