Save Tax With a Contractor Pension
If you’ve not already set up a contractor pension or don’t currently make full use of the allowances available, you could be paying substantial amounts of tax uneccessarily! Pensions are big news and they represent one of the few remaining tax breaks available to contractors, regardless of whether you’re inside or outside of IR35.
Get the equivalent of up to 64% tax relief with a Contractor Pension!
As a contractor you can invest money personally from your own funds or direct from your company bank account. If caught by IR35, you save not only the income tax that would ordinarily be payable but also avoid the employees and employers national insurance as well. The amount of tax relief can be as much as 64%, meaning that for every £100 invested, you pay £31 and the tax man pays the rest!
Could you achieve up to 64% tax relief?
Simply complete our Pension finder form or call 0845 062 8888 and a member of our team will contact you to discuss your circumstances and requirements.
Those outside of IR35 still gain substantial tax savings of up to 50% but in order to exploit these tax breaks and invest for the future you need to ensure that you choose a pension provider that meets certain criteria that are vital for contractors.
5 Ways Contractor Money Will help you Maximise your Pension Benefits?
- We understand that it is important to avoid companies that levy initial set up costs. This ensures that 100% of your contribution goes into your pension which is crucial given the fact that your employment status may mean that you do not fund the scheme continuously for the rest of your life.
- We only recommend providers with the financial strength to remain the steward of your investment throughout your life. Providers who have made a commitment to invest in product development to exploit changes to the rules and new opportunities as they arise in the future.
- Any contractor pension we recommend will be versatile enough to allow contributions regardless of whether you continue to work through a one-man limited company, umbrella company, are between contracts or a permanent employee.
- We understand how to fully exploit tax rules that are little understood by more general advisors/providers to ensure that you get the best possible benefit from your time as a contractor.
- As a contractor, your employment status is inherently changeable; any pension we recommend will give you complete freedom to increase, decrease, restart and cease contributions at will.
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