We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
SIPP Pension Top Up: Carry Forward Rules
macman
Posts: 53,129 Forumite
I'm considering topping up a SIPP pension by contributing some of my unused allowances for the last 3 years under the carry forward rules. I'm clear about the annual allowance calculation, but please can someone explain the total upper limit calculation, which is no more than your income in the current tax year. Is this based on gross income, taxable income, earned income, earned income plus savings/investment income or what? I am self- employed, so it's not just a matter of plugging in my annual salary.
Some guides refer to 'earned income', while others mention 'relevant earnings'?
Some guides refer to 'earned income', while others mention 'relevant earnings'?
No free lunch, and no free laptop 
0
Comments
-
Is this based on gross income, taxable income, earned income, earned income plus savings/investment income or what? I am self- employed, so it's not just a matter of plugging in my annual salary.
it is your gross earned income from employment or self employment. In other words, whatever your accounts shows your gross profit to be.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards