Lambert Chapman LLP, Contractors Seminar - PCG

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Profit Extraction – Using Pensions: The BenefitsCompany Pension Contribution 50,000£PAYE and NIC Savings 19,90825% Tax Free Lump Sum 12,500Net Pension Fund 37,500Unizone Limited 2012
Profit Extraction – Using Pensions: The Benefits•The introduction of pension contributions in additionto salary can improve tax efficiency.•Help meet the personal needs of directors andpotentially reduce tax•CT relief on Company contributions•Marginal rate of income tax relief up to 50% forindividuals•Grows tax free (with exemption of withholding tax ondividends)•Death benefits normally IHT free•25% tax free cash in retirement•Remainder used to purchase income – wide choice•Wide investment choice•Advantages of SIPPs and SSASUnizone Limited 2012
Page 1 and 2: IF HMRC COME A’ KNOCKING…ARE YO
Page 3 and 4: 2) If your business is selected for
Page 5 and 6: 4) You need to keep business record
Page 7 and 8: 6) HMRC run the checks at 4 differe
Page 9 and 10: 8) HMRC powers to obtain informatio
Page 11 and 12: 10) Production of Information• Bu
Page 13 and 14: 12) HMRC visits to premises…• T
Page 15 and 16: 14) Computer Records• HMRC have t
Page 17 and 18: THANK YOU FOR LISTENINGChris Harman
Page 19 and 20: What is the 24 month rule?• The c
Page 21 and 22: What travel costs can be claimed?
Page 23 and 24: Will a contract with a new client r
Page 25 and 26: What is the 40% test?• The 40% te
Page 27 and 28: Examples…• See the notes at the
Page 29 and 30: What are the risks of getting this
Page 31 and 32: Tax Efficient Strategies Incorporat
Page 33 and 34: Company with £300k profit or less.
Page 35: Getting The Mix RightProfitCompany
Page 39 and 40: Relevant Life Assurance•Life assu
Page 41 and 42: Thank you for attendingIf you requi

Lambert Chapman LLP, Contractors Seminar - PCG

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