Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [pension-sipp]

19 questions
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2 answers

Will Poland tax my SIPP?

I am UK resident for tax purposes and have a SIPP. If I become resident in Poland for tax purposes then will Poland tax my SIPP? If so then in what way? My SIPP holds a single fund which does not pay dividends. So the only activity is the change in…
cja
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6
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1 answer

US tax handling of UK pension contributions

The UK currently has a pension (SIPP) contribution limit of up to 40,000 GBP per year (approx 60,000 USD at current exchange rates). 100% of this amount can be self-funded, in which case your contribution is treated as non-taxable income. But I'm…
davmp
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1 answer

Does the FSCS protection limit of £85K mean I have to spread my pension pot across different providers?

Considering the FSCS only pays compensation up to £85k in the event of a SIPP provider going bust, should I be spreading my pensions across different providers even if I predominantly invest in stock and shares, and not cash? I understand as the…
Dan
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5
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1 answer

Does higher rate tax relief count towards pension contribution limits in the UK?

I understand for 20/21 the annual pension contribution limit is 100% of your salary or £40,000, and this effectively means that the total of your employer pension contributions + personal pension contributions + HMRC top ups cannot exceed this…
Dan
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4
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2 answers

Pension LTA (Life Time Allowance) limit criteria

I've been reading about pensions and specifically the LTA (Life Time Allowance), and after spending days reading everything anyone has to say about it, the only thing I'm sure of is that there are many pension administrators/trustees and various…
Michael
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4
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2 answers

How Does a Workplace Pension Interact With A SIPP In The UK

I currently have a workplace pension with People's Pension. My understanding is that this means that: I pay into it each month My employer pays into it each month The government gives me a certain amount of tax relief each month I have been paying…
Undistraction
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4
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Claiming UK benefits with a SIPP/ISA

I am ask for a friend, who is expecting hard times soon. My friend is not computer literate, and I know nothing of the UK benefits system. The best information I can find is How do savings and lump sum pay-outs affect benefits?, which says Some…
Sam Fox
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1 answer

Which Novo Nordisk ticker is most tax efficient in a UK SIPP?

I'd like to own some Novo Nordisk and my investment vehicle is a UK SIPP (pension) account. There don't appear to be any Novo Nordisk listings directly on the UK, but there are many tickers listed on various non-UK stock exchanges…
davmp
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2
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3 answers

Putting borrowed money into an SIPP

I am employed and have about three years' salary in a stocks-and-shares ISA (an investment from which dividend income and capital gains are tax-free). I generally save £600 a month. The bank associated with Tesco, the largest supermarket in…
Thomas Womack
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1 answer

UK Pension Annual Allowance and Carry Forward

If i have a pension and for the last 3 years didn't make any contributions. Then, this current tax year i make the full £60k contribution as per the annual allowance. Next year, what would my maximum contribution be - the way i see it there are 2…
Adam Stewart
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Sample illustration for UK pension

Is the following sample illustration for contribution to a UK SIPP correct? Annual salary - £60,000 (Top marginal tax bracket 40%) Total tax (including national insurance) £16,558 (according to tax.service.gov.uk) Contribution to SIPP :…
user2371765
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How can I estimate future pension pot limit?

To ensure I don't overflow my pension in future, I require some way of best-guessing what the pension pot limit will be when I retire (it's currently £1.25M, soon to be £1M due to new policy). Assuming I can withdraw from age 55 in the future, I…
Lawrence Wagerfield
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UK: Contributing to SIPP to maximise tax relief: Lump sum vs several contributions?

I've just started to organise my personal finances - I have some money (~40k) depreciating away in a low interest savings account. I have a question that I've tried in vain to find an answer to on the googles. My situation is that I'm a higher rate…
mattb
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UK SIPP allowance

If I have 10k of rental income and 10k of earnings from employment? What is the maximum amount I can pay into a SIPP? I assume this would be 8000 and (plus SIPP automatically reclaim 20% income tax, hence adding 25% to the amount contributed) so…
Lost1
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SIPP pension withdrawal tax obligations (UK HMRC)

When investing in a SIPP you get tax relief. How much depends on whether you are a basic or higher rate tax payer. For this post, I am focussing on basic rate payer. My understanding is that when you go to withdraw money from a SIPP when you hit…
Gary Green
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