Seems to me he's set up a pension scheme that has no contributions from the Director, only the Ltd, which is why there's no deductions showing on the payroll. As far as I understand it, the employer contributions are allowable, and are corp tax deductible.
Is the question where to allocate the £400 on the accounts? If so, I will check in the morning when I get to the office. I did one of these a while back, although that was a 50/50 split.
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Hi John
Thanks. Sorry the heading/my rambling is misleading. Really what I was wanting to check was whether or not it should have gone via payroll given what was said on page 3, I guess.
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
This is very odd - if I look at the attached document in the above post on my mobile there is no redaction, I can see all of the
information which you have tried to hide.
On my desktop, I can't see it, it is redacted.
Very strange - and potentially breaking the GDPR rules?
My understanding is that as long as the companies payments to a pension company are gross it is allowable and doesn't need to go through payroll. Not sure if that helps in your situation?
Hi John Thanks. Sorry the heading/my rambling is misleading. Really what I was wanting to check was whether or not it should have gone via payroll given what was said on page 3, I guess.
Can't check what was on page 3 now but unless he was contributing personally I can't see how you would have been able to have put it through payroll. If it helps I only saw the redacted attachment as I don't use mobile when viewing the forum.
__________________
John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
My understanding is that as long as the companies payments to a pension company are gross it is allowable and doesn't need to go through payroll. Not sure if that helps in your situation?
Thanks for your help Mike
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Hi John Thanks. Sorry the heading/my rambling is misleading. Really what I was wanting to check was whether or not it should have gone via payroll given what was said on page 3, I guess.
Can't check what was on page 3 now but unless he was contributing personally I can't see how you would have been able to have put it through payroll. If it helps I only saw the redacted attachment as I don't use mobile when viewing the forum.
Thanks John. Had to delete in case anyone else could see it on a mobile. Thought I was being so careful!
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
