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Maximising Higher Rate Tax Relief When Opening First SIPP
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Interest within the PSA still counts as taxable (even though it is taxed at 0%). So if that interest is £1k you should add £1k to the £102k figure. You may not know the precise figure so it is probably best to over estimate it even though that may mean you contribute a bit too much to the SIPP.
The pension contributions to your DC scheme are relief at source contributions. You would deduct £7k instead of the £8750 I guessed.1
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