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SIPP Issue - Paid more than I should into it
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There’s no limit on the amount that an individual can contribute to a registered pension scheme. However, tax relief is limited to 100% of your UK taxable earnings or £3,600, whichever is higher. It doesnt have a specific name. Its just a reference point.intalex said:
What is this £3,600 freebie officially called?masonic said:There is a £3,600 gross freebie given to non-earners.
Then you have the other allowances/restrictions that can play within that (annual allowance, tapering, MPAA, carry forward etc)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.1
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