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@hippy
"As a contractor you can personally invest up to 100% of your income into a pension and benefit from income tax relief at your highest marginal rate, so for every £6 that you contribute, the government could be paying £4."
"If you operate as a one-person 'Ltd' then you can get the company to fund a pension on your behalf. This allows you to continue drawing a tax efficiently low salary to reduce your national insurance, without missing out on the lucrative tax savings associated with pension investment. The company can invest up to £255,000 per annum which can significantly reduce your corporation tax bill, while transferring money from the company into personal hands."
http://www.contractoruk.com/money/what_are_my_pensions_options.html