Can I swap between Contributing and Drawing Down ? Or even do both?

ader42

I believe you can’t offset a loss against pension income if you use cash-basis accounting. 

ader42

I seem to remember there is a £50k limit to the size of the loss too.

optoutDB

I do accrual accounting for my tax return.  I'm happy making around £10k to £!5k. No expectation that the business might take off and start earning me £50k plus (because it's based on my labour and I've not been able to change that so far).

My SIPP is held with ii.

Seems like I have to make a decision whether to drawdown  £16,760 this year, based on how much the MPAA 10k limit might hurt me if the business earns optimistic amounts.  I don't have an optimistic forecast yet, just 'expected' and 'bad' !  Putting highly optimistic earnings values into my model doesn't seem quite right