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Lisa or pension
Options
louloubelle79
Posts: 411 Forumite
advice pls for husband after left pension with previous employee with county council. Age 38 has own Ltd company, he is only employee. Would a pension or S&S LISA be better for him now? Able to pay £300 pm in.
Sorry I'm sure this has been asked many times before.
Sorry I'm sure this has been asked many times before.
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Comments
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Age 38 has own Ltd company, he is only employee. Would a pension or S&S LISA be better for him now? Able to pay £300 pm in.
Pension...I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thank so thought that would be the better option just wanted to check with you experts
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Paid in via the Ltd company as opposed to personal contribution possible?
Absolutely.
A LISA is paid out of income that has already left the company and suffered corporation tax and dividend tax.
A pension with employer contribution has no personal taxation and is a business expense which reduces the CT bill.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Can you open a LISA within a SIPP? Get the 25% bonus and the tax relief?0
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Can you open a LISA within a SIPP? Get the 25% bonus and the tax relief?
No.
http://www.taxcafe.co.uk/pensionmagic.html might be worth a read.0 -
Def pension, paid by the LC.
But nothing stopping you having an LISA too if you want.0 -
Can you open a LISA within a SIPP? Get the 25% bonus and the tax relief?
No. You cannot open a tax wrapper within a tax wrapper.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
As well as the advantages dunstonh has mentioned, you can also often arrange things to take all or most of the money out of a pension tax free, not just 25% tax free. The LISA just can't match that combination of benefits for the company and individual.0
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OT - but it's really weird having a tax wrapper called the same as you.0
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