(master trust) self employed contributions

[Redder Than Red]

hi,
I finally got good news yesterday that my new pension (via master trust) can start and the plan is to stick in 42,000 lump sum from the business (self employed) and write it off as business expense to avoid paying tax on profits etc and also do direct debit monthly 600 euro again with company paying it rather than me personally etc....

My pension advisor tells me I'm below the threshold with these figures etc.
However, my question is this, do I need to do anything regarding ROS or wages or is it simply a matter of sending the money to the pension company and doing nothing else?

My fear is will this impact my wages or tax liability next year if I'm not inputting it into the ROS system or on my wage slip or something, probably a stupid question but I'm new to this.
thanks in advance....

 

[cloughy]

Deleted

 

[Redder Than Red]

That's great, thank you very much Cloughy!

 

[cloughy]

Sorry I deleted it, as thought it was a company rather than self employed, so leave it to someone who might be more familiar with reporting of self employed.

 

[Redder Than Red]

You were right the first time Cloughy, I'm self employed but it's a limited company not sole trader. So I think your advice was perfect thanks

 

[Steven Barrett]

You are a company director. The money goes directly out of the company account and into the pension. It is a business expense. It is nothing to do with your personal tax. Your pension advisor should be telling you this.


Steven
www.bluewaterfp.ie

 

[Redder Than Red]

Perfect, Thanks Steven!

 

[Redder Than Red]

Edit - had follow up question but will start new thread as different topic, thanks.