Pension when self employed

[Yuckypretty]

As a sole trader am I right in thinking I can't claim paying into a pension as a business expense? But I'll get tax relief paid into the pension instead.

I'm just trying to work out if I should pay my pension from my business account or my personal account.

Thanks

I don't think it makes any difference as a sole trader. Whilst it's wise to maintain a separate business account, it's all "your money".

@Yuckypretty

As a sole trader am I right in thinking I can't claim paying into a pension as a business expense? But I'll get tax relief paid into the pension instead.

I'm just trying to work out if I should pay my pension from my business account or my personal account.

Thanks

Correct - LTD company can make a payment from the business to reduce Corp tax, as it is an employer contribution to you the employee.

As a sole trader you correctly state, you make a contirbution, receive basic rate tax relief from the pension provider and then ensure any higher rate relief is claimed via your self assessments.

Your business and personal account are in essnce the same thing as you are a sole trader. Take it from the account that will miss it the least.