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Posted Tue, 26 Mar 2024 11:31:41 GMT by Na tax
In the following scenario: Income for tax of 52737 which is comprised of £49,637 of PAYE and £3100 of savings interest. Currently my Savings allowance has been reduced to £500 and I would not be eligible for Marriage allowance. Can you confirm that a payment into a SIPP of circa £2000 would bring me back into a basic rate tax payer, thus giving me the max £1000 savings limit and be eligible for marriage allowance? If yes, please could you confirm the exact amount I would need to pay into a SIPP? the pensions and marriage allowance guidance is not clear at all so please do not simply point me there!
Posted Mon, 08 Apr 2024 07:47:02 GMT by HMRC Admin 5
Hi Naphtoli Englard

Guidance on adjusted net income can be found here Personal Allowances: adjusted net income

Thank you

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