Pension advice

[Megahurtz400]

Hey all,

Finally trying to get something sorted pension wise after years of saying I should be doing it.

I think i've got a pension from an old job with next to nothing in it (Less than £1000).

Have been doing some research and have found some info on SIPP's and Lifetime ISAs.

Was planning on opening a SIPP and and Lifetime ISA and putting money into them every month, the SIPP definitely needs more research before pulling the trigger, but is there anything WRONG with this plan?

Also, with the Lifetime ISA, I currently have a Stocks & Shares ISA with H&L, am I right in thinking that I can only pay in up to £20,000 (£4000 into the LISA) into all of my ISAs before having to pay tax on them? (

Obviously speaking to an IFA would be the best way to go, but just trying to get my head around a few things first.

 

[Megahurtz400]

Your employer doesn't offer a salary sacrifice pension scheme?

Always the best option as you avoid 32%/42% tax and NI.

Self employed, Director of Ltd. Company

 

[Megahurtz400]

Then the company money will be your employer contributions reducing your corp tax.

You really need to speak to a specialist though

Will give the accountant a message now

Listen to this bloke.


I just lumped it all in to Pensionbee with a low risk investment strategy purely for simplicity's sake. Seems to be working fine so far, the amount earned so far has already spanked what the big guns were achieving.

Might give you a message once i've spoken to accountant, cheers