Contractors should start investing in a pension at the start of their contracting career.
- Contractors can invest up to £40,000 each year.
- No more annuities. Contractors can draw from their fund.
- 25% can be withdrawn tax free.
- Pension savings can be passed onto family.
- Funds can be kept in stocks or cash - just like an ISA.
- The amount of tax relief can be as much as 50%.
Broadbench is a contractor specialist who will offer you an initial meeting to assess your situation and needs. They will then refer you to the correct Pension Adviser given your contracting status of either inside or outside of IR35.
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Broadbench is a contractor specialist who will offer you an initial meeting to assess your situation and needs.
