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40% Taxpayer - how much into Sipp

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Comments

  • kidmugsy
    kidmugsy Posts: 12,709 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    bigadaj wrote: »
    Though for many people it considered to be one way of limiting spending and also Alsace where it can't be accessed for short term spending needs.

    I thought it was Luxembourg that people used?
    Free the dunston one next time too.
  • lvader
    lvader Posts: 2,579 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Make hay while the sun shines.
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    ukjoel wrote: »
    Downside is less flex that SIPP

    It is possible to use salary sacrifice and SIPP. My company has an agreement with HL for exactly this.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    MinMoz wrote: »
    Looking for pointers please.

    Looking to start an additional pension and put my salary that is subject to the 40% tax rate into it.

    Currently earning £48k - how much should I be thinking about putting away?

    Thanks in advance for your help.



    you say an 'additional' pension ?

    how much do you currently put into a pension?
  • MinMoz
    MinMoz Posts: 156 Forumite
    Thanks for all the replies - in a fortunate position at the moment. Saving a lot each month, manageable mortgage and in a house that could be our rest of our life house. Just a bit sickened to see our savings attracting little interest.

    Clapton - Current pension is 10% non-contrib. Ok, but thinking I should be adding more.

    UKJOEL - Fair point on the salary sacrifice - going to find out about that as realise that this could mean more going into the pot.
  • ispookie666
    ispookie666 Posts: 1,194 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Hi
    I'm kind of in the same boat.
    I have a NHS pension contribution of 9%, my Pensionable pay is 46K but my gross pay is around 56k.

    I have recently opened a SIPP; I had a look through the self assessment forms and they are a complete mystery. :mad:

    I think i'll give HMRC a call.

    Do I need to let my employer know about the SIPP???
    “Don't raise your voice, improve your argument." - Desmond Tutu

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