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HMRC Tax Relief and Tax Years

BillyHorner · 2022-02-09 15:15:15

I have a friend who is a pensioner and whose income is just the state pension (i.e. below the income tax personal allowance). I've previously mentioned to them about making a £2,880 contribution to a SIPP each year and then receiving the additional £720 tax relief from HMRC. They've now decided this a good idea. Obviously,…

Comments

BillyHorner Posts: 41 Forumite

12 February 2022 at 7:13PM

Scrudgy said:

Your friend is below age 75 I take it? This tax relief stops at that age I think.

Yes, 68 years old (69 later this year). I'm figuring that they might be able to do this for 7/8 tax years until the tax relief stops (presuming HMT don't change the rules during that period).

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