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Posted Thu, 29 Feb 2024 15:34:30 GMT by C Cheng
Assume my total income is £80,270 including salary £270 salary, dividend income £20,000 and savings income £60,000 savings income. Can I make one-off pension contribution of £30,000 to SIPP to obtain tax relief: 1) Get extra £7,500 on top of £30,000 pension contribution in my pension account 2) Basic tax bracket expanded by £30,000 to £80,270, so that my tax payable will be calculated according to basic tax rate (£12,570 income tax allowance and 20% income tax rate; £2,000 income dividend tax allowance and 8.75% dividend tax; £1000 saving income tax allowance)
Posted Mon, 04 Mar 2024 11:37:39 GMT by HMRC Admin 32

You will need to contact our pension schemes services helpline for assistance.

Pension schemes

Thank you.

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