Auto Enrolement Pensions increase this week

[Mr Bump]

New tax year starts on Friday so those in auto enrolment pensions have to put in minimum of 3% but also means employers have to up there contributions to 2% minimum.

next year it goes up to 5% and 3%

 

[MatBin]

New tax year starts on Friday so those in auto enrolment pensions have to put in minimum of 3% but also means employers have to up there contributions to 2% minimum.

next year it goes up to 5% and 3%

Oh no they dont, oh yes they do.
3 options, put in extra, stay as you are or opt out.

 

[Mr Bump]

lots of folk will be much better off going along with the auto enrolment as its free money.
Wish I could get some, being self employed its only me and ummmmm me.

 

[Byker28i]

I'm happy our company has to put some money in as well. I've been putting 15% in since they started it

 

[Byker28i]

lots of folk will be much better off going along with the auto enrolment as its free money.
Wish I could get some, being self employed its only me and ummmmm me.

My wife is self employed. Salary sacrifice is before tax so it's worth putting a lot in to minimise your tax

 

[MatBin]

lots of folk will be much better off going along with the auto enrolment as its free money.
Wish I could get some, being self employed its only me and ummmmm me.

If you run a Ltd Co you can claim back the Corp Tax you have paid on contributions to a pension plan, if I recall the numbers correctly I got £12k back on £60k contributions.
Of course you have to have already paid the £12K tax on your profits, you can only claim back the same amount as you have paid.

 

[Mr Bump]

If you run a Ltd Co you can claim back the Corp Tax you have paid on contributions to a pension plan, if I recall the numbers correctly I got £12k back on £60k contributions.
Of course you have to have already paid the £12K tax on your profits, you can only claim back the same amount as you have paid.

what's corporation tax

Joking aside, yeah all my spare has been going to pension for a few years now.