Change ltd year end to access new pension year

Extend year end to allow another further employer pension contributions in next financial year

Didn't find your answer?

Hello, most of my company profit goes into employer pension contributions but this year I have been fortunate enough to make over £60k and so it won't all go in (I have used the three previous years allowances and there is no one else's allowance to use).  My year end is the end of October - if I extend it to the end of April could I make further contributions in April and therefore reduce my CT bill?  I am unlikely to hit the problem in future years as revenue is expected to decrease, this year is very much a one-off.  Thanks!

Replies (8)

Please login or register to join the discussion.

avatar
By David Ex
22nd Apr 2024 11:15

neildsimpson wrote:

Hello, most of my company profit goes into employer pension contributions but this year I have been fortunate enough to make over £60k
….

Well done! You can afford to pay your accountant to advise then.

Thanks (5)
JCACE
By jcace
22nd Apr 2024 13:43

You're fully updated with the annual allowance amounts, yes?

Thanks (0)
Replying to jcace:
avatar
By neildsimpson
22nd Apr 2024 13:56

What annual allowances are you referring to - the maximum annual pension contribution amount?

Thanks (0)
By JCresswellTax
22nd Apr 2024 14:01

Are you paying £60k into a pension without taking advice from an accountant or IFA? Wow.

Thanks (2)
Replying to JCresswellTax:
avatar
By neildsimpson
22nd Apr 2024 14:11

I have an accountant, but she isn't sure about my question, so I thought I would try asking online.

Thanks (0)
Replying to neildsimpson:
VAT
By Jason Croke
22nd Apr 2024 14:14

neildsimpson wrote:

I have an accountant, but she isn't sure about my question, so I thought I would try asking online.


An Accountant or IFA would never tell their client they "aren't sure", a decent one would go off and find the answer instead of leaving their client to the risks of random (and potentially bad advice) from a public forum. Maybe time for a new Accountant by the sounds of things.
Thanks (5)
Replying to Jason Croke:
avatar
By neildsimpson
22nd Apr 2024 14:20

Yes I think you're right, I was beginning to suspect I need to change accountant for a number of reasons. Thanks for your helpful advice Jason, it's much appreciated.

Thanks (0)
Replying to neildsimpson:
avatar
By Postingcomments
22nd Apr 2024 14:45

She is a non-qual who works off her kitchen table isn't she? Also offers dog walking services and is "spiritual". We have a couple of those round here.

Thanks (2)