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Pension Contributions
Whilst there are a wealth of pension products available for those who want to invest their money in
their futures, advice on which of these should be sought from someone who specialises in this area.
However, if you want advice on the tax situation surrounding pension contributions and the best way
to structure them to ensure that you are getting the tax relief you are entitled to, then an accountant
who specialises in self-employment, contracting and running your own business is ideal.
If you want to make contributions to a pension fund, then there are two ways doing so: you can
make them directly as personal payments or through your company. There are tax advantages to
both, so which one works best for you will depend on your circumstances.
Deciding Factors
If you arent sure whether you should be contributing to a pension on a personal basis or through
your company, then it could help to consider some of the following:
To Conclude
For most people, personal contributions up the level of their gross salary and then company
contributions for any excess is considered the most tax efficient way of funding a pension. However,
many people prefer the administrative simplicity of solely making company contributions, especially
given the relatively low value of the contributions that can be made when a lower salary is paid.
For more information about what expenses you can claim as a contractor, please get in
touch with Your Dedicated Account Manager who will be happy to answer any of your
questions on his direct extension or on 020 3818 9530 or
email support@oasisaccountants.co.uk.