Investments as a pension?

C

cunninst

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I want to invest in the stock market as a pension, run and managed by myself. So I would be taking a portion of my salary and putting it into a seperate account used only for investing in stocks/bonds and maybe some more property.

The account would be purely for retirement and not used for any other purpose. I will not be taking any return from these investments until my retirement so it will not be an additional income.

I already own my own home and am currently acquiring a foreign property.

My question is would i be able to take this money from my salary as a pension deduction? If i wasn't able to do so i would be taxed through paye and then again in capital gains tax? Is that correct?

Advice is much appreciated. I'm not very sure on pensions.
 
You would have no problem at all transferring money from your company (do you own your company?) or...if you don't...then you could set up a personal pension that does this also.
 
What you will need is to first set up either a Self Administered or Self Directed pension arrangement. You don't buy or own the shares - your pension fund does - but you can control what shares it buys.

Liam D. Ferguson
www.ferga.com
 
Your understanding in relaxting to double taxation (PAYE and then CGT) is correct - if the money was transferred to a pension there would be NO PAYE and NO CGT, however when the money eventually gets converted to a pension income there may be PAYE at that stage but you would certainly avoid the CGT on share price growth.

A self-administered pension would be suitable for you if you are an owner-manager.
 
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