Max Company Pension Contributions

EdInvestor

borntobefree wrote: »

See http://forums.moneysavingexpert.com/showthread.html?t=873525&page=11

Note the SIGNATURE of !!!!!! Here

You mean this signature:

Anyway, I've emailed my accountant to try and find out what the rules are and if I glean any further information, I'll keep you posted (ED permitting)

Very amusing.

"!!!!!! here" aka Dithering Dad has lately taken to wasting people's time on the endowment forum.I guess it's all those lonely nights sitting in hotel rooms with nothing to do.....

:rolleyes::rolleyes:

borntobefree

I'm abit speechless Makes a change for me.;) I wouldn't mind but he's had people kicked of this forum for trolling.:-(

Dithering_Dad

EdInvestor wrote: »

[/b]


You mean this signature:




Very amusing.

"!!!!!! here" aka Dithering Dad has lately taken to wasting people's time on the endowment forum.I guess it's all those lonely nights sitting in hotel rooms with nothing to do.....

:rolleyes::rolleyes:

Sorry to disappoint you ed, etc. but I have absolutely no idea who "!!!!!! here" is or why he (or she) put my quote into their signature box. Seems rather odd that I have a run in with ED and then suddently I'm gettign attacked in a board she frequents?

For the record, I haven't been in the endowment board for at least a year - since I asked a question about my own crappy endowment (one where ed advised me very well, and for that I thank you - and did at the time as I recall).

I'm sorry if any of my 'barbs' offended you ED, but you started it all with your forst comment on this thread. Like they say, if you can't take it, then don't dish it out. I've no idea if !!!!!! Here is your alter ego or what, but as I said, it seems really odd that all this has happened since our 'run in'.

This is all VERY juvenile, can we just get back to helping each other?

p.s. I've just noticed the time you posted your comment, ED. 12:03 AM, and you have the gall to mention my "lonely nights sitting in hotel rooms with nothing to do". I was tucked up asleep in bed when you posted that - after spending a rather enjoyable evening out with my pals in London. You, on the other hand were home with your husband but chose to spend your time on here into the wee small hours... Looks like I'm not the lonely one, dear.

Dick_here

EdInvestor wrote: »

[/b]
You mean this signature:




Very amusing.

"!!!!!! here" aka Dithering Dad has lately taken to wasting people's time on the endowment forum.I guess it's all those lonely nights sitting in hotel rooms with nothing to do.....

:rolleyes::rolleyes:

And what's your excuse, Ed ?

Dithering_Dad

meester wrote: »

...As to the OP's questions, they come up about once a month.

Here is one of the most recent, I won't bother repeating myself:

http://forums.moneysavingexpert.com/showthread.html?p=9652761

Cheers for the link meester, very informative. As an MSE veteran (1 year and counting), I really should have done a search to see if the question had already been asked!

I noticed that ED Investor made a single contribution to that thread too. Surprise, surprise, it was a sarcastic post aimed against one of the contributors (in this case, Dunstonh). On that thread everyone simply ignored her. I wish I had done the same on this one.

meester

Dithering_Dad wrote: »

Cheers for the link meester, very informative. As an MSE veteran (1 year and counting), I really should have done a search to see if the question had already been asked!

I noticed that ED Investor made a single contribution to that thread too. Surprise, surprise, it was a sarcastic post aimed against one of the contributors (in this case, Dunstonh). On that thread everyone simply ignored her. I wish I had done the same on this one.

Hmm, I think threatening to sue MSE because you had a disagreement with edinvestor might have been taking things too far....

wheredoesallthetimego

I'm in a similar position to you and unfortunately there's no clear cut answer.
The general opinion is that contributions equal to your salary shouldn't raise eyebrows but no one really knows. That will probably apply to the employers contributions in your case - the tax man keeps trying to pretend the company isn't there when it suits him.

You may have problems with income shifting by also paying your wife if she's not a fee earner - but who knows until the new law is drafted (and probably not even then).

As to leaving money in the company - there was a way out by closing down the company every few years, the tax rules for that were very advantageous but you had to have less than $100k and have been trading in the last year. I suspect this may have changed this year but don't know.
I'm also have a lot of cash in the company - it's earning 5.95% at the moment but could do better ourtside.

I take it you pay yourself up to the higher rate band in dividends?
This has always been the problem with doing this sort of thing

Why don't you want to ask your accountant? That should be what they are for.

Dithering_Dad

meester wrote: »

Hmm, I think threatening to sue MSE because you had a disagreement with edinvestor might have been taking things too far....

Hmnn, the other issue I have with MSE apart from people offering advice on complex issues when they have no experience, qualifications or knowledge (and potentially ruining the OP's finances to boot) are that there are a lot of people who read the headlines and none of the content :rolleyes:, (actually I suspect you're just pulling my leg, so I'll forgive you ) however, there were so many people who got the wrong end of the stick it does make me wonder if anyone reads anything other than the title. Perhaps next time I'll put the whole post into the title bar?

I didn't threaten to sue anyone, in fact I went out of my way in the FIRST paragraph to distance myself from that sort of 'compensation culture' nonsence. I thought it was a valid question to ask because I felt certain people were offering direct advice based on nothing more than a bit of knowledge and a lot of prejudice. I feel that this is dangerous to a website that I really enjoy using and after biting my tongue for a long time, felt that I should stand up and say how I felt.

Clearly we're not allowed to debate these things as that thread was locked by MSE Martin himself, but sticking your fingers in your ears and closing your eyes does not make the problem go away.

As Dunstonh said in his very informative post on that thread, someone was given poor advice that would have saved him a bit in IFA fees but cost him 200k in IHT. It's good to offer opinion but always to put a caveat of "But I'm not a professional, so if I were you, with such a large amount of money involved, I'd see an expert". It might save someone from a financial disaster.

What is interesting is the number of PMs you get in support. If you post a contentious issue, many people are afraid to post in support but do it privately. What does that say about the bullies on this site? Freedom of speech? Only if you follow the herd my friends...

meester

wheredoesallthetimego wrote: »

I'm in a similar position to you and unfortunately there's no clear cut answer.
The general opinion is that contributions equal to your salary shouldn't raise eyebrows but no one really knows. That will probably apply to the employers contributions in your case - the tax man keeps trying to pretend the company isn't there when it suits him.

The company is always there, unless IR35 applies.

You may have problems with income shifting by also paying your wife if she's not a fee earner - but who knows until the new law is drafted (and probably not even then).

It would almost certainly apply then if that law is ever passed, but doesn't apply yet.

As to leaving money in the company - there was a way out by closing down the company every few years, the tax rules for that were very advantageous but you had to have less than $100k and have been trading in the last year.

Less than $100k? Not sure what you are referring to there.

Business asset taper relief has simply been renamed to entrepeneurs' relief, and the lifetime limit is £1m. It's effectively the same as it was apart from the £1m limit.