40% Taxpayer - how much into Sipp

kidmugsy

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?

lvader

Make hay while the sun shines.

Lokolo

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

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

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

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???