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Paying into SIPP in 24/25, tax relief arrives in 25/26
pterri
Posts: 372 Forumite
I think I saw this mentioned a while ago but can’t find the answer? I may drop some cash into my SIPP this year, the tax relief will arrives in the next tax year. Will the HMRC consider that to count toward next years 25/26 allowance or will they treat it as part of the 24/25 payment? It will be what it will be but just curious.
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Date of payment to the scheme is what matters.0
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Tax relief is a relief, not a bonus. So, your pension contribution is the gross amount, and that is the date that matters, and the tax relief, if not pre-funded, doesn't matter when it arrives.pterri said:I think I saw this mentioned a while ago but can’t find the answer? I may drop some cash into my SIPP this year, the tax relief will arrives in the next tax year. Will the HMRC consider that to count toward next years 25/26 allowance or will they treat it as part of the 24/25 payment? It will be what it will be but just curious.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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