Pension contributions rules on backdating
There is no HMRC requirement for contributions to pro rata shareholdings, nor (as far as I am aware) are HMRC "cracking down" on anything.Where the problem arises is that to be deductible pension contributions need to be "reasonable".However, they also said that if my accountant was ok with it then they would be also.I however cannot backdate any contributions as I do not have an existing pension.
Hi In answer to the questions: (a) We are not marrried. She is a fee earner (but not the main one) bringing in about £25K per year based on a 3 day a week contract. Thanks - Iguy Total remuneration (salary pension) must be "reasonable" for the duties involved.
This, means that if you were born between 1st January 1949 and 31st December 1954 inclusive, the minimum qualifying State Pension age will be 66.
If you were born between 1st January 1955 and 31st December 1960 inclusive, the minimum qualifying State pension age will be 67.
IMHO, you should be seeking advice from a tax specialist accountant for the non-investment aspects of your decision.
From January 2014, pension age in Ireland became 66.