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!

Am I too late to pay into a SIPP for 2019/2020 tax year?

Asking for a friend. Is it too late to use unused income tax benefits to deposit money into a SIPP for last tax year, ie 2019/2020? Tax return about to be submitted so taxable income now know and want to use up spare cash to limit of taxable income to deposit into SIPP to get tax relief benefit.
Or are contributions as of now only limited to the current tax year limits (taxable income or AA whichever lower)?

Signature on holiday for two weeks

Comments

  • Dazed_and_C0nfused
    Dazed_and_C0nfused Posts: 18,176 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    edited 27 January 2021 at 12:29PM
    Unless they have a TARDIS yes, they are too late to pay into a SIPP for 2019:20.

    They may be able to use carry forward to pay more in the current tax year but any tax relief due will be calculated by reference to the tax position for this tax year, not 2019:20.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.2K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.3K Spending & Discounts
  • 245.3K Work, Benefits & Business
  • 600.9K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.