Pensions Automatic Enrolment for one man Ltd company...
Discussion
I just wondered what the contractors and slightly built mild mannered company directors of PH are planning to do with respect to the auto enrolment legislation, I've just got my letter from the Pensions Regulator. I've already got two ailing and rather measily pensions (one stake holder, one private pension) which barely tick over, can I adopt one of those for this, will it pass muster? Where's the best place to go for advice on this? I asked my accountant a couple of years ago but he was non commital, I'm seeing him this week and will ask again in the light of this new regulation.
Jockman said:
If I'm reading you correctly you should be exempt.
£883 per month seems to be the magic number, the only way to be execpt is to take a salary below that, which is possible for me but I'm not sure with the dividend tax etc... going forward there is going to be much in it as the tax savings on making contributions from the company are going to be worth something, plus I've got to start saving for retirement at some point... Could be the kick up the arse I need to do something (bloody government and their incentives to do the right things)Gassing Station | Finance | Top of Page | What's New | My Stuff