Hi,
I have a VAT-registered limited company, and I am the sole director. Currently, I don’t run a payroll system but want to make employer pension contributions directly from my company bank account to my private pension provider.
I’ve read that it’s possible to simply make the payment and tag it in the bank feed as “Employer Pension Contributions.” However, I’ve also come across other approaches involving payroll-related entries or invoicing, which I’m not using at the moment.
Can someone confirm if it’s acceptable to record the contribution by tagging the transaction directly in QuickFile, and if so, which nominal code I should use? Alternatively, is there a better method for handling this without setting up payroll?
Thanks in advance for your help!