Quote Originally Posted by beechcustom View Post
On the advice of my accountant I saw an IFA recently with z view to reduce my tax liability. The IFA suggested setting up a pension as its mega tax efficient. If I've got this correct, £10k per annum into a pension will cost me £500 per month after factoring in the tax relief. No brainer!

The IFA is looking to charge me £780 to effectively set up the pension. All the tax stuff will be dealt with by my accountant. I don't mind paying people to do a job but £780 seems steep. Is setting up a pension something I can do relatively easily myself or should I stop moaning and pay the IFA?

Any help from the wise much appreciated.
Yes a pension is tax efficient and you get tax relief at your marginal rate

https://www.gov.uk/tax-on-your-priva...ion-tax-relief

Your IFA doesn’t work for nothing and as well as his charges there will probably be others (fund, platform).

You can set up a pension yourself but it sounds as though you need some help. Only you can judge if £780 is good value as it won’t just be for setting up a pension but assessing your attitude to risk, recommending investments etc etc