Limited Company - Sole Employee paying myself a pension

Mqrk

Hello!

Need some advice and a poke in the right direction,

I have had my own limited company since the end of December, first date of trading was the 3rd January. Only myself as a contractor and looking on best way/how to pay myself a pension out of my weekly earnings. If anyone has a idiots guide how to do this it would be appreciated as I have read numerous ways so far.

:money:
Thanks in advance!

Savvy_Sue

Have you talked to your accountant?

da_rule

You say you're a contractor, are you therefore employed by the company or self employed?

phill99

Why are you trading as a limited company AND self employed? You have just increased your tax burden and your accounting fees. Bizarre.

Mqrk

I have my own limited company and employing myself under the limited company so only 1 employee and myself as Director.

I haven't spoke to accountant yet, just want to know what questions I should be asking etc

Allan53

Contributing to pension from Ltd Co will reduce Corporation Tax, where-as contributing from Net Pay will reduce your "take-home pay", but gain tax credit. Also limits on company and personal annual contributions. Just another topic to discuss with accountant along with salary level and dividends.