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Max SIPP contribution with zero income

AleisterCrowley
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Max SIPP contribution with zero income

#658392

Postby AleisterCrowley » April 7th, 2024, 11:09 pm

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

swill453
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Re: Max SIPP contribution with zero income

#658400

Postby swill453 » April 8th, 2024, 6:36 am

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.

AleisterCrowley
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Re: Max SIPP contribution with zero income

#658447

Postby AleisterCrowley » April 8th, 2024, 11:14 am

Thanks!
Worth doing for the 6.25% 'round trip' gain then, if nothing else

AleisterCrowley
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Re: Max SIPP contribution with zero income

#658463

Postby AleisterCrowley » April 8th, 2024, 12:26 pm

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?

GeoffF100
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Re: Max SIPP contribution with zero income

#658659

Postby GeoffF100 » April 9th, 2024, 1:14 pm

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.

AleisterCrowley
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Re: Max SIPP contribution with zero income

#658703

Postby AleisterCrowley » April 9th, 2024, 5:31 pm

Cheers!


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