MSE News: Minister: Tax returns could allow self-employed to build up a pension

edited 1 March 2017 at 1:00PM in Pensions, Annuities & Retirement Planning
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Legacy_userLegacy_user Forumite
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The Pensions Minister is in favour of using self-employed people's tax returns as a way of deducting pension savings...
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'Pensions Minister: Tax returns could allow self-employed to build up a pension'
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  • edited 1 March 2017 at 6:01PM
    jamesdjamesd Forumite
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    edited 1 March 2017 at 6:01PM
    It's very important for this to notice the difference between being self employed and being an employee of your own limited company. If you are an employee of your own limited company it would usually be better to have the company make the contributions instead of you.

    If you are self employed instead of being an employee of your own limited company it's also worth considering whether you should change that. There's a good chance that it will save you money.

    It might be a good move for MSE to produce an article and even calculator to help people to consider the company or sole trader choice, though advice from their accountant would still be the best way.
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