If you are thinking about working as a freelance contractor, you have made a great decision. You will be able to enjoy many perks of being self-employed. However, there are certain limitations and you have to know them before you make your decision to work as a contractor. Contractors are different in many ways when […]
Well, they don’t differ in terms of the structure of the investments per se, but where they do differ is how the pension will actually be funded. What a permanent employee would do is he’d fund his pension, from their own personal bank account. And, then he’d claim back the tax relief via self assessment.
The financial benefits of contracting are quickly diminish once you’ve been caught by IR35, however all is not lost if you are within IR35 you are able to invest your gross taxable income into a contractor pension scheme well before the taxes can be applied. This means that you are able to invest as much […]
If you are not currently contributing to a contract pension there is a chance you up paying significantly more tax to HMRC then you need to. Pensions are one of the only true tax breaks that are left in the UK and can play an important role in minimising your taxable income, whether or not […]
No mater what stage in life you are in it’s always a good time to start thinking about starting a pension. With the UK’s ageing population the state pension is becoming more and more strained. Apart from the importance of putting money aside for the future it is one of the most tax efficient ways of saving money. […]