(lack of) retirement planning

sjp999

I'm in a similar position - director, chief bottle washer and IT tart working out of my own company.

My accountant advised against using my declared salary for further pension contributions as it made much more sense making company, non-tax reclaimable, payments into my SIPP.

Again with the hit post only to find a more succinct response has been made.

Slinky

As a matter of interest, how old is this accountant? He seems stuck in the dark ages.

db75

early 50's? its definitely been a case of better the devil you know, hes just looking at my accounts at the moment so i suppose ill have to move on next year now. So ill be on the hunt for accountant recommendations!

db75

dunston - thanks so much for following the thread and responding to the come back from my accountant. I feel particularly stupid - he's been 'looking after' my accounts for 20 years. Started when i was a new princes trust business and have just stuck with him feeling that he must know my business better than anyone else... im not a tax specialist - its why i have an accountant, im not savvy in these matters and put my faith in him as he talks a good talk.

Whats done is done I guess. just need to find some good people to work with.

xylophone

Whats done is done I guess. just need to find some good people to work with.

Have you read post 35?

db75

I have, I’ll do some more research I was referring to accountants in the last post though

Thanks all for the input. Hopefully I can find my way through to a good solution

Zola.

https://theescapeartist.me/2014/10/05/help-ive-got-too-much-cash/

This may be of interest.

db75

thanks - thats an interesting if depressing read!