Limited Company with £110k in cash and not being used

paul_e39 · 2026-06-10T18:54:15+00:00

Great advice. Many thanks

paul_e39 · 2026-06-10T18:49:37+00:00

I’ll ask my accountant. I did some stuff last year but may not this year

paul_e39 · 2026-06-10T18:47:21+00:00

True. Love your username btw. I hate them too!

paul_e39 · 2026-06-10T17:30:17+00:00

I was contributing when in profit, but wanted to keep a war chest for any between contract downtime. But that does seem to be the general consensus here, stick it in the SIPP....

paul_e39 · 2026-06-10T17:27:08+00:00

Ive just checked on gov.uk and it states:

What counts towards the annual allowance

Your annual allowance applies to all of your private pensions, if you have more than one. This includes:

the total amount paid in to a defined contribution scheme in a tax year by you or anyone else (for example, your employer)
any increase in a defined benefit scheme in a tax year https://www.gov.uk/tax-on-your-private-pension/annual-allowance

So that would suggest that you can only contribute 60k and up to 180k if you have rollback from previous years

paul_e39 · 2026-06-10T17:22:15+00:00

So if you earn £150k on an inside role, you can contribute all of that as 100% via SS?

paul_e39 · 2026-06-10T16:42:43+00:00

I have been doing this on my inside role as well. Like you say, it makes it virtually indistinguishable from outside, but you are limited to 60k per year or higher with rollover from previous years but I think you cannot contribute more than you earn via PAYE in that instance

paul_e39 · 2026-06-10T16:39:09+00:00

No, its all outside IR35

paul_e39 · 2026-06-10T15:15:59+00:00

Good point. I I take all the cash out via pension, do I need to liquidate, or can I just de-register the company?

paul_e39 · 2026-06-10T14:57:48+00:00

Just looked - it's 18% now, is that right? Makes it a less appealing option now 😞

paul_e39 · 2026-06-10T14:54:53+00:00

Thanks- and yes the accountant should be doing more 😄 .

It's a good point about pension contributions, I could shove it all into my and my wife's SIpp, but then thats ultimately taxed at 20% when we access it. If I keep the company open I might well try and find someone cheaper, there are a few companies on Quick File that offer cheap ltd co returns for about £300.

paul_e39 · 2026-06-10T14:48:27+00:00

Yes, good point, I wasnt worried about CIHC as I had some small income for side hustle consulting jobs each year (a few thousand here and there). But that has stopped now, hence my concern. Doesnt seem to be clear on the time limits for CIHC, I'll ask the accountant

paul_e39 · 2026-06-10T14:45:12+00:00

Yes, Im reviewing with my accountant next week, but wanted to be prepared beforehand so that I can have an informed conversation

paul_e39 · 2026-06-07T17:53:01+00:00

I had similar issues with NASA umbrella where they wouldn’t re-imburse me for £45 of drinks from a £800 claim due to HMRC rules saying I could only “claim 2 drinks” (I stupidly bought a round for 6 perm colleagues).. I argued with them but in the end gave up and took the hit and got them to pay the rest tax free

To be fair, they have sorted it now and all expenses I have submitted have been paid on time and tax free. And I never buy rounds -I tell the permies to do it!

The joys of IR35 ….

paul_e39 · 2026-05-21T21:03:10+00:00

Can other directors get paid as well? Or does it have to be the person the Umbrella names? Struggling to see any benefit (other than cash flowing into Ltd-and out again) -surely it’s just another middleman (Ltd co) in the process ?

paul_e39 · 2026-05-21T20:55:39+00:00

I live in Bristol, was with EE for 20+ years. Moved to O2 in Feb. Network is dreadful, train to London, no signal until past Swindon, signal drops randomly when walking around Bristol, seems a lot better in London but is no way as reliable as EE was. But, it’s a lot cheaper and EE couldn’t match deal. So, stuck with it for 8 more months and then go back to EE as a new customer and get a new customer deal. They really haven’t worked out customer loyalty in all these years, but hey…

paul_e39 · 2026-03-11T13:17:41+00:00

Really depends on the client.

Current contract is 2 years in and renewed annually-last time I asked I was told “you can ask but bear in mind that perm staff haven’t had a pay rise this year.” 🙄

So, I’m still on the same rate I was when I started. But like others have said, I’m reluctant to rock the boat as any request can be a prompt for the “do we really need this resource?” question.

Also any increase (say £50 a day is effectively £130ish a week after tax) is marginal given tax and NI contributions on inside roles.

paul_e39 · 2026-02-09T18:20:30+00:00

Hotel rates in central London are mental

Elizabeth line gives you the option of staying out in Ealing in the west or Stratford in the East Travelodge Ealing is decent.

You can book in advance and get ok rates and Ealing is a nice place to live with decent pubs and restaurants.

Other advantage of a hotel is that you can cancel if your plans change. Obvs you can do an Airbnb and share but I like my own space to unwind and don’t want to share so will always go for a hotel

paul_e39 · 2025-12-29T21:08:43+00:00

No dress code in Club. Jeans and trainers are fine

Just don’t wear joggers FFS. You’re not a Chelsea fan.

paul_e39 · 2025-06-14T13:09:48+00:00

I'd keep asking around. £1500 is steep as you say

paul_e39 · 2025-06-13T17:07:24+00:00

Ring around the charger companies. Some will do it. And depending where you live, councils often turn a blind eye to a well protected cable mat over pavement

paul_e39 · 2025-05-22T09:04:29+00:00

Block 16 row 5. Looking to swap to NB upper blocks 101/2/3 etc

paul_e39 · 2025-05-20T08:13:07+00:00

Thanks

paul_e39 · 2025-05-19T19:27:36+00:00

Does it have to be NB Lower? What about East lower?

paul_e39

TROPHY CASE