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Posted Fri, 11 Aug 2023 10:24:00 GMT by vk79
I have a limited company, where I am the single Director, holding 100% of the shares and there are no other employees or associate parties. The company is a close company. I am the only shareholders and participant and driver of the company and its revenues. The pension contribution will go into the Director SIPP account only; the SIPP pension account is fully in the name of the Director. No other parties are linked to neither the LTD nor the SIPP pension account. a) I would like confirmation that based on the above conditions the company contributions to the director’s pension will be tax-free and subject to the full tax relief. b) I would like confirmation that there are no limits to how much the company can contribute to the director pension each year i.e. the company can contribute 100% of its available retained earnings reserve in any year and there are no limits to that.
Posted Tue, 15 Aug 2023 11:07:06 GMT by HMRC Admin 17

In the first instance I would advise that when the SIPP was taken the company you chose should have given you advice on the limits and
general rules for the contributions, there are limits which were previously £40,000 and are now £60000, but the amounts are
also based on the company income.

I would refer you to BIM46030 & 46035 for more information and also :

Pensions Tax Manual    .

Thank you.

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