Pensions
Pension Payments for Company Directors
Company Directors with 31 December company year ends you should be looking at 2011 draft figures for the year and taking whatever actions are necessary from a tax planning and financial management point of view. For example those wishing to make additional pension payments for the year must do so before 31 December. Pension payments cannot be accrued after year end. Remember stocks takes must be carried out on 31 December which is Monday this year.
For sole traders there may be a benefit to moving year ends away from 31 December year ends in order to give more flexibility for effective tax planning. This is something sole traders with 31 December year ends should explore.
For more information contact Pat Sutton, Managing Partner, O’KellySutton, Sutton@okellysutton.ie, 086 2523637
Hidden charges and exit penalties in pensions and other investment products.
Charlie Weston personal finance editor for the Irish Independent, interviewed Patrick Sutton, partner of O’Kelly Sutton Accountants,Kildare on the 6th of August 2012.
Finance expert Patrick Sutton, of O’Kelly Sutton accountants in Kildare, said many pension funds had been badly invested, causing losses of between 30pc and 40pc.
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