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Posted Wed, 30 Nov 2022 07:01:57 GMT by dtk dtk
This is the 4th tax year in which I will have contributed to a SIPP. This year I have resumed full time employment, my previous job share partner having retired. Utilising the carry forward option, I wish to maximise my SIPP contributions. I have 3 sources of income. The first is my PAYE employment, I understand I can contribute my gross earnings from this employment as tax relief qualifying SIPP contributions, subject to the Annual Allowance £40,000. Second I receive from DWP the state pension which is subject to income tax. Third and for the first time I will be taking a lump sum drawdown from an Australian superannuation fund, which will be reported in the foreign income section of my self assessment return and I understand is subject to income tax. My question .......... the DWP pension and overseas pension drawdown are both subject to UK HMRC income tax, do they also satisfy the criteria as SIPP contributions with associated tax relief subject to the carry forward calculation being greater than my gross SIPP contribution this tax year. dtk
Posted Fri, 02 Dec 2022 14:06:20 GMT by HMRC Admin 2
Hi,

You can find guidance here:

HS345 Pension savings — tax charges (2022)

Thank you.

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