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out of curiosity lump sum
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if I put any lump sum from this pot into a sipp would i still get tax contribution off taxman or is that what they call recyclingKeep in your thoughts the poor Beasts of burden around the World and curse All who do them harm.0
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You are approaching your 62nd birthday and have now fully retired?
https://forums.moneysavingexpert.com/discussion/6185295/retiring-at-62/p2
https://forums.moneysavingexpert.com/discussion/6170365/tax-free-lump-sum-and-sipp#latest
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That is correct.Keep in your thoughts the poor Beasts of burden around the World and curse All who do them harm.0
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You only get the tax benefit where your contribution comes out of earned income. Do you have earned income from other sources?thebullsback said:if I put any lump sum from this pot into a sipp would i still get tax contribution off taxman or is that what they call recyclingGoogling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0 -
My only income apart from savings is £8400 from pension
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Keep in your thoughts the poor Beasts of burden around the World and curse All who do them harm.0 -
In that case the most you can add is £2880 nett / £3600 gross. I would be absolutely amazed if HMRC followed that level of contribution up to check for recycling.thebullsback said:My only income apart from savings is £8400 from pension
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