Directors pension

kirsty1144

My husband and I are directors of a company, we currently don’t pay into a pension. How do we go about starting to pay into a pension? I believe it’s worth our time as we have just paid 18k in corporation tax, the same kind of figure for the last two years. Any guidance much appreciated.

dunstonh

How do we go about starting to pay into a pension?

Very easy. Pick a pension provider for you both, choose your investments (many would argue the other way around investments then provider but that assumes you know how you want to invest) and then make employer contributions to them both.

Marcon

kirsty1144 said:

My husband and I are directors of a company, we currently don’t pay into a pension. How do we go about starting to pay into a pension? I believe it’s worth our time as we have just paid 18k in corporation tax, the same kind of figure for the last two years. Any guidance much appreciated.

If you move swiftly, you'll be able to make a contribution in the current tax year. Don't forget (if indeed you ever knew!) that company contributions aren't limited to 'earnings' (personal contributions are - but you won't be paying those because it's more tax efficient to let your company make the contributions), so within reason you could make quite hefty contributions up to the maximum 'annual allowance' of £40,000 each.