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Self Employed Contributions to SIPP
pmdpmd
Posts: 10 Forumite
I understand that I can contribute up to 100% of my PAYE income to a SIPP.
Can I also contribute self-employment earnings (i.e. non-PAYE earnings)?
How about rental income?
Any advice much appreciated.
Cheers,
Paul.
Can I also contribute self-employment earnings (i.e. non-PAYE earnings)?
How about rental income?
Any advice much appreciated.
Cheers,
Paul.
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Comments
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I understand that I can contribute up to 100% of my PAYE income to a SIPP.
You can contribute 100% of your earnings to a stakeholder, personal pension or SIPP. Its not just SIPP.How about rental income?
That isnt earned income. Its investment income. So no.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 -
Thanks Dunston.
Can I contribute 100% (or any %) of my non-PAYE earnings. I.e. the earnings I make from my self-employment as a computer programmer? It is not clear on the HMRC site.
Many thanks for your help in this.
Paul.0 -
It doesnt matter too much where the income comes from that you put into the pension. So you could use surplus rental income to pay into the pension but it would go against your earned and/or self employed income. It can be the total of both.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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Can I contribute 100% (or any %) of my non-PAYE earnings. I.e. the earnings I make from my self-employment as a computer programmer? It is not clear on the HMRC site.
Just to be clear, you can obtain tax relief on a contribution equal to 100% of the profit you make i.e. the profit on which you pay income tax.Warning ..... I'm a peri-menopausal axe-wielding maniac
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