Sole traders and partnerships
How to pay
Make lump sum payments using your debit card or set up regular payments by Direct Debit from your personal bank account.
Tax relief
We'll automatically claim basic rate (20%) tax relief on your behalf and add it into your pension. If you're a higher rate or additional rate tax payer, you can claim up to an extra 20% or 25% through your Self Assessment tax return.
Limited company directors and owners
Make a payment
You can make single payments using a company debit card from a UK bank account.
Verifying your company
If it’s the first time you’ve done this we’ll need to verify your company. This can take a few weeks and we’ll need a few details like registered business number and how many shareholders you have. You can make one company payment while you wait for your company to be verified.
Who can open a pension
You’ll need to be a registered company director or shareholder of the business.
Frequently asked questions
No. We can only accept single lump sum contributions from a debit card registered to your company. We don’t currently accept Direct Debits, standing orders or bank transfers for any company contributions.
To make a company contribution directly to your Vanguard Personal Pension:
- you must be a registered company director or shareholder of the business
- anyone who owns 25% or more of the business or has significant control will have to sign a declaration to approve your company payments
- you’ll need to make your payment using a debit card registered to your company. You can make one payment while your company is being verified. Once your company has been verified, you’ll be able to make more company payments
No. The payment can only come from a bank account in the name of your company. If the payment comes from a holding company or a subsidiary we will not be able to accept it, even if it’s related to your company.
You can make one company payment while we verify your company. You’ll need to wait until we’ve verified your company before you can make any more company payments. This usually takes around 10 business days but can sometimes take a few weeks.
Company contributions work differently to personal contributions and Vanguard will not claim any additional tax relief on your behalf as we do with personal contributions.
Instead, company pension contributions can be treated as an allowable business expense and may reduce your company’s corporation tax bill. You should speak to your accountant before making any company contributions to your Vanguard Personal Pension.