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SIPPS and Cash ISAs
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You can do that, but...Confused--my IFA says it can be done. Can transfer funds from my SIPP each year put them in cash ISA then withdraw from the ISA and avoid paying any income tax. If this is possible why is it not mentioned as a strategy by the experts?
at this point the money coming from the SIPP is added to your taxable income so you'll pay income tax on it.Confused--my IFA says it can be done. Can transfer funds from my SIPP each year
Once the money is in the ISA any further income is free of income tax, it's just that you pay the income tax to get it out of the pension.0
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