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Max SIPP contribution with zero income
Posted: April 7th, 2024, 11:09 pm
by AleisterCrowley
Evening all
I understand that one can still pay £2,880 into a SIPP with zero eligible income (and Gov top up by £720)
Does this still apply when the MPAA has been triggered?
I assume it does, but wanted to check and I can't find any reference to this scenario on the usual sites
(well below age limit for SIPP contributions!)
thanks
Re: Max SIPP contribution with zero income
Posted: April 8th, 2024, 6:36 am
by swill453
AleisterCrowley wrote:Evening all
I understand that one can still pay £2,880 into a SIPP with zero eligible income (and Gov top up by £720)
Does this still apply when the MPAA has been triggered?
Yes definitely. I've been doing exactly that for the last few years.
Scott.
Re: Max SIPP contribution with zero income
Posted: April 8th, 2024, 11:14 am
by AleisterCrowley
Thanks!
Worth doing for the 6.25% 'round trip' gain then, if nothing else
Re: Max SIPP contribution with zero income
Posted: April 8th, 2024, 12:26 pm
by AleisterCrowley
Just out of interest (at the moment) - if someone had a significant pension/investment income would this default minimum still move the basic rate band out by £3.6k and potentially save 40% tax on the top slice?
Re: Max SIPP contribution with zero income
Posted: April 9th, 2024, 1:14 pm
by GeoffF100
AleisterCrowley wrote:Just out of interest (at the moment) - if someone had a significant pension/investment income would this default minimum still move the basic rate band out by £3.6k and potentially save 40% tax on the top slice?
Yes.
Re: Max SIPP contribution with zero income
Posted: April 9th, 2024, 5:31 pm
by AleisterCrowley
Cheers!