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Own Ltd Company Pension Contributions vs Personal Contributions
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Thanks for the clear explanation above.
If i put in 6720, how does the government make up the shortfall of £1,680? as I do not pay any tax on my income. Is it from their own pockets?
Who would I need to speak to if I need to set all these up? is it my accountant or an independent financial advisor?
The government's 'own pockets' are funded by the kindly taxpayer.... Relief at source schemes allow the provider to claim back basic rate tax on your behalf even if you are a non-taxpayer.
Depends how much you/your company want to contribute as to the sort of advice (if any) you need. A simple stakeholder or SIPP can be opened online.Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0
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