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Is this an effective strategy to stay within £100k tax bracket (avoid 60%)
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CityLatina
Posts: 10 Forumite
in Cutting tax
If my salary is £112k and my work pension scheme set to 'net arrangements' and in the interest of remaining within the £100k tax bracket, can I pay £12k (monthly or as lumpsum bend f each march) onto a SIPP (non work related, RAS)?
ps. yes, overall annual figure would stay <£60k AA.
ps. yes, overall annual figure would stay <£60k AA.
0
Comments
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If you are paying into a SIPP you only need to pay £9600 which will be grossed up to £12000 by the provider when basic rate tax is claimed.1
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Perfect, even better... thank you.0
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