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Paying platform fees directly from crystallised pot - MPAA?
artyboy
Posts: 1,790 Forumite
Just something that's been niggling at me - I currently pay platform/fund management fees for some of my SIPPs by selling units from time to time. Tax efficient and all that.
But if/when I come to crystallise these pensions and take my 25% - would future unit sales to pay fees be treated as taking taxable income that would trigger the MPAA?
But if/when I come to crystallise these pensions and take my 25% - would future unit sales to pay fees be treated as taking taxable income that would trigger the MPAA?
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Comments
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No.artyboy said:Just something that's been niggling at me - I currently pay platform/fund management fees for some of my SIPPs by selling units from time to time. Tax efficient and all that.
But if/when I come to crystallise these pensions and take my 25% - would future unit sales to pay fees be treated as taking taxable income that would trigger the MPAA?
Added rhubarb.0 -
No.You aren't drawing a taxable income. A provider is taking their fees.0
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