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  • FIRST POST
    • andy001
    • By andy001 6th Jan 18, 6:52 PM
    • 42Posts
    • 17Thanks
    andy001
    Pension planning
    • #1
    • 6th Jan 18, 6:52 PM
    Pension planning 6th Jan 18 at 6:52 PM
    Hi experts
    I need some guidance please.
    I used to think that I'm very savvy with money and hence went ahead with BTL investment. Stopped pension and invested in BTL. Have 2 properties and rent covers BTL mortgage. Due to recent changes in taxes for BTL, I'm thinking to sell one property now and other one once the fixed mortgage is at the end of initial fix (2.5yrs still to go as opted for 5yrs fixed )
    I'm thinking to invest in SIPP for my pension.
    I have some old pension saved for 6 years but not done any pension savings for 5 years as decided then to go with BTL.
    I've started investing through S&S ISA and started investment in Vanguard LS 60 for last 8 months already
    Is it better to do it myself or go through FA to start investing towards pension?
    Any recommendations for best / preferred SIPP investments for better returns?
    What are the tax liabilities for SIPP? Which are the lowest cost SIPs and reputable ones?
    Sorry if these are daft questions
    Is it better to put this Question in savings/investment forum?
    Thanks in advance
    Andy
Page 1
    • atush
    • By atush 7th Jan 18, 11:27 AM
    • 16,814 Posts
    • 10,493 Thanks
    atush
    • #2
    • 7th Jan 18, 11:27 AM
    • #2
    • 7th Jan 18, 11:27 AM
    You can put in 100% of earned income, up to the annual allownce (40k at this time).

    Ifa or not depends on how comfortabe you are in choosing investments. Can use same as in isa if you like.

    Tax depends on the rate you pay. Brt, 100 into a pension costs you 80. Hrt, 100 into a pension costs you 60. 25% tax free when you take it, tax on the rest is as income in the year you take it. Take 12k or less, no tax.

    Are you employed?
    • andy001
    • By andy001 7th Jan 18, 11:34 AM
    • 42 Posts
    • 17 Thanks
    andy001
    • #3
    • 7th Jan 18, 11:34 AM
    • #3
    • 7th Jan 18, 11:34 AM
    Thanks Atush
    I'm now self employed.
    I've charles stanley direct account for ISA investment and will look into this in details.
    Thanks again
    • AlanP
    • By AlanP 7th Jan 18, 1:12 PM
    • 1,206 Posts
    • 866 Thanks
    AlanP
    • #4
    • 7th Jan 18, 1:12 PM
    • #4
    • 7th Jan 18, 1:12 PM
    Thanks Atush
    I'm now self employed.
    I've charles stanley direct account for ISA investment and will look into this in details.
    Thanks again
    Originally posted by andy001
    Self employed or as a Ltd company?

    If Ltd there are advantages to making emperor contributions to a pension.
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