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SIPP contribution, avoid 40%
after a couple of false starts ChatGPT says 40% tax will be paid on £2290. Based on a tax code of C1299L . Do we agree?
How much to pay into a SIPP today to not pay any 40% tax?
Comments
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How can ChatGPT know the answer to that without knowing the make up of your tax code?
Your code is largely irrelevant once the tax year has ended but the make up of it can identify things which need to be taken into account.
Other than the £52,980 earnings do you have any other taxable income of any sort in 2025/26?
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Oh D&C I love you.
Take the tax code at face value but I think (I’m not 100% sure) the little bit extra is uniform washing allowance. Interest kept under £500. No other income.0 -
I wouldn't say ~£420 is a little bit of uniform washing allowance. Unless you're an airline pilot maybe!
But if it is all work related expenses of some sort then you would be paying tax on £39,990.
A gross relief at source contribution of £2,290 would increase your basic rate band to £39,990.
And all your interest would be taxed at 0%.
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