Hi all,
I've been reading the great advice given to other posters and hoping for the same.
I have a part time paye job where I pay into a pension (£90 per month and employer contributes the same). Employer doesn't match any further contributions.
I am also the director of my Ltd co. I never knew that I could potentially pay into a pension via this way, so was interested to hear this.
At the minute I keep my overall 'salary' from paye and company (when I do my SA) to just under the higher rate tax bracket (50k), but I do make more in the business so could pay myself more if I needed it. I know that there can be some tax advantages for pensions being a higher rate tax payer.
I do pay £350 per month into an under 40's lifetime ISA. I also pay into premium bonds (£50 per month).
I want to add approximately an additional £300per month (I'd like flexibility in this) into an investment or pension. I'm pretty clueless in these regards and trying to educate myself.
Based on the information I have given would you recommend opening a SIPP (e.g I have looked at vanguard). If I do this am I better doing it through Ltd co or from my personal account? Is there any benefit of increasing my work place contributions?
Further information: I am 39 so a long term investment is what I'm looking. No mortgage or other debts.
Thanks for reading